Stocks - Constellation Brands, Procter&Gamble Rise Premarket; Apple Falls

Investing.com - Stocks in focus in premarket trading on Friday:

• Constellation Brands (NYSE:STZ) surged 7.3% by 8:20 AM ET (12:20 GMT) in premarket trading after the brewer of Corona reported earnings that came in better than expected thanks to rising sales. The company also increased its forecasts for fiscal year 2020.

• Apple (NASDAQ:AAPL) stock was down 0.7% after its chief design officer, Jony Ive, left the company to start his own firm. Apple is expected to be his first client, the Financial Times reported.

• Boeing (NYSE:BA) stock was up 0.5% even after Reuters reported that the airplane maker will not complete its latest software update for the 737 Max until September, delaying flight tests until at least October.

• Procter & Gamble (NYSE:PG) stock rose 1.5% after Goldman Sachs upgraded the consumer product company, saying it has a “potential double-digit return,” CNBC reported.

• Banks were rising after they passed the Federal Reserve’s stress test, paving the way for them to increase returns to shareholders. JPMorgan Chase (NYSE:JPM) rose 2.1%, while Citigroup (NYSE:C) gained 1.9%, Bank of America (NYSE:BAC) was up 2.5%, and Goldman Sachs (NYSE:GS) ticked up 2.2%.

Nike (NYSE:NKE) stock inched down 0.2% after a rare earnings miss, after company chief financial officer Andy Campion downplayed the impact of the U.S.-China trade war on its business.

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