Stocks: Apple Rises in Premarket; Facebook, HP Fall

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Investing.com — Stocks in focus in premarket trade Friday.

  • Apple (NASDAQ:) rose 1.5% after a report that it’s increasing iPhone 11 production by 10% in anticipation of what CEO Tim Cook called a big upgrade cycle in smartphones
  • BP (LON:) rose 0.3% after confirming that CEO Bob Dudley is to retire and be succeeded by upstream head Bernard Looney
    • HP Inc (NYSE:) fell 5.4% after saying it would cut up to 9,000 jobs, or 16% of its global workforce to bolster profitability. News of an expanded buyback and a higher dividend hasn’t helped soften the blow.
  • Facebook (NASDAQ:) fell 0.4% amid reports that key backers are getting ready to quit its digital currency project Libra
    • PayPal (NASDAQ:), Visa (NYSE:) and Mastercard (NYSE:) were all in focus, after being cited by reports as likely to quit the Libra project.
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