Microsoft, Citrix, Weber Rise Premarket; Wynn Resorts Falls

© Reuters.

By Peter Nurse 

AiVIF.com -- Stocks in focus in premarket trade on Wednesday, September 15th. Please refresh for updates.

• Microsoft (NASDAQ:MSFT) stock rose 1.2% after the software giant announced a $60 billion share buyback, with no expiration date, and a higher quarterly dividend.

• Apple (NASDAQ:AAPL) stock rose 0.2%, with the world’s largest company rebounding after the previous session’s lukewarm response to the unveiling of its Phone 13 and a new iPad mini.

• Chevron (NYSE:CVX) stock rose 0.5%, boosted by the rise in oil prices, even after JPMorgan (NYSE:JPM) downgraded the oil major, citing its ramp up in clean energy spending. The company said yesterday it will increase spending on alternative energy projects to $10 billion from $3 billion.

• Wynn Resorts (NASDAQ:WYNN) stock fell 4.9%. MGM Resorts (NYSE:MGM) stock fell 1.5% and Las Vegas Sands (NYSE:LVS) stock dropped 4.5%, continuing Tuesday’s selloff after the government of Macau sought to increase regulatory scrutiny over casinos in the world’s largest gambling hub.

• Weber (NYSE:WEBR) stock rose 2% after the maker of outdoor grills posted a strong first quarterly report since going public, with sales rising 19% from a year earlier.

• Theravance Biopharma (NASDAQ:TBPH) stock fell 17% on the back of the biopharmaceutical company announcing its drug to treat hypotension did not meet its primary endpoint. It now intends to cut its workforce by around 75%.

• Lucid Group (NASDAQ:LCID) stock rose 2.4% following Bank of America (NYSE:BAC) predicting a 50% gain, saying the newly floated electric vehicle company appears to be on a firm footing to become a real player in the growing market.

• Regeneron (NASDAQ:REGN) stock rose 1.9% after the drugmaker announced that the U.S. government would buy an additional 1.4 million doses of its Covid-19 antibody treatment.

• Sage Therapeutic (NASDAQ:SAGE) stock rose 3.4%, boosted by the FDA granting fast-track status to the drugmaker’s experimental treatment for Huntington’s disease. 

• Citrix Systems (NASDAQ:CTXS) stock rose 5.8% after Bloomberg reported the software company is working with advisers to consider a possible sale. Activist investor Elliott recently disclosed at 10% stake in the company.