Investing.com – Stocks in focus in premarket trading on Thursday:
• United States Steel Corporation (NYSE:) stock slumped 12.2% in premarket trade by 8:20 AM ET (12:20 GMT) after giving weak third-quarter guidance due to an unexpected drop in steel prices and weak market conditions in Europe.
• Microsoft (NASDAQ:) stock gained 1.2% after after increasing its quarterly dividend by 5 cents, bringing it to $0.51 per share. The company also announced a new stock buyback worth up to $40 billion.
• Beyond Meat (NASDAQ:) stock was up 1.8% after the company was rated ‘overweight’ in new coverage at Barclays (LON:). The analysts said the plant-based burger company was in a position to capture a significant share of the market.
• Tesla (NASDAQ:) stock inched up 0.4% after its Model 3 became the first Tesla to earn the top safety rating from the Insurance Institute For Highway Safety.
• Darden Restaurants (NYSE:) stock slipped 2.5% after the parent company of chain Olive Garden reported mixed earnings, with revenue coming in below forecasts as comparable-restaurant sales rose less-than-expected.
• AT&T (NYSE:) stock rose 0.7% after The Wall Street Journal reported that the company is exploring a spinoff of DirecTV, either as a standalone or in combination with Dish. The news comes only days after activist investor Elliott Management announced a $3.2 billion stake in AT&T.
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