Stocks – Intel, Netflix, UnitedHealth Tumble in Premarket Trade

Investing.com – Stocks in focus in premarket trading on Tuesday:

• Semiconductor companies were in the red in premarket trade by 8:20 AM ET (13:20 GMT) after U.S. President Donald Trump said that a trade deal with China may have to wait until after next year’s election. Advanced Micro Devices (NASDAQ:) fell 3%, while Micron Technology (NASDAQ:) was down 2.5% and Nvidia (NASDAQ:) dipped 3.2%.

• Intel (NASDAQ:) slipped 1% after reports that it was in advanced talks to buy Isreali company Habana Labs for an estimated $1 billion.

• Netflix (NASDAQ:) tumbled 2.3% after analyst Andy Hargreaves at KeyBanc Capital said that its customer acquisition costs will rise due to increasing competition.

• ELF Beauty (NYSE:) stock fell 2% on news that it has priced a 3.4 million share offering at $15.90, a 3% discount to the $16.38 closing price on Monday.

• UnitedHealth Group (NYSE:) stock declined 2% after it announced its earnings forecasts for 2019 and 2020, with revenue expected to be $242 billion in 2019 and between $260 billion and $262 billion in 2020.

• Arrowhead Pharmaceuticals (NASDAQ:) stock slid 4.1% after it announced a 4 million-share offering for “general corporate purposes” and possibly new acquisitions.

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