Stocks – Wells Fargo, Lyft Rise in Premarket; Micron Slumps

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© Reuters. © Reuters. – Stocks in focus in premarket trading on Friday:

• Micron Technology (NASDAQ:) stock slumped 5.7% in premarket trade by 8:20 AM ET (12:20 GMT) after it forecast a disappointing holiday season due to falling demand for its memory products, while the company also said it was “mindful” of economic and trade uncertainty.

• Delta Air Lines (NYSE:) stock gained attention after the company announced it was buying a 20% stake in LATAM Airlines for $1.9 billion in cash and debt.

Las Vegas Sands (NYSE:) stock gained 5% after it was added to the , replacing Nektar Therapeutics. The move is effective Oct. 3.

Wells Fargo & Company (NYSE:) stock rose 2.7% after it named Bank of New York Mellon (NYSE:) CEO Charles Scharf as its new Chief Executive. The company has been without a CEO since Tim Sloan left earlier this year.

• LYFT (NASDAQ:) stock was up 1.3% after the ride-sharing company was rated as outperform in initial coverage at Wells Fargo (NYSE:), which cited expectations that revenue per rider will grow faster than expected.

• Apple (NASDAQ:) stock inched up 0.2% after the Wall Street Journal reported that it is planning to bring feature-length films to movie theaters ahead of the release of its Apple TV + streaming service.

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