4 stocks to watch on Monday: Apple, Shopify and more
Nikada/iStock Unreleased via Getty Images


Stocks showed mild weakness in Monday's premarket trading as Wall Street looks for catalysts after the uncertain trading that dominated last week's holiday-shortened action. Here are some stocks to watch for Monday:

Apple (NASDAQ:AAPL) lost ground in premarket action amid concerns that turmoil in China will impact the iPhone maker's production in the country. This followed a report from Bloomberg that the tech giant could experience a shortfall of 6M units for its iPhone Pro product. Shares retreated about 2% before the opening bell.

Shopify (SHOP) received a premarket boost on hopes for the holiday shopping season, climbing about 6%. Over the weekend, the ecommerce platform revealed that its merchants saw a record total of $3.36B in Black Friday sales, rising 17% from last year.
A negative analyst comment prompted selling in Williams-Sonoma (WSM). The stock dropped 4% in premarket trading after Morgan Stanley downgraded WSM to Sell. Analyst Simeon Gutman predicted that the company will likely see significant promotional activity and the home furnishing sector will likely experience pressure going into 2023.
Axsome (AXSM) surged nearly 12% before the opening bell, bolstered by positive clinical trial data. The biopharma firm reported that its AXS-05 product met the main goal of a late-stage trial. AXS-05 is being tested as a candidate for the treatment of Alzheimerâs disease.


For more on the holiday shopping season, see why Bank of America thinks that deep discounts will likely lead to continued margin deterioration.