© Reuters.
By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Thursday, January 6th. Please refresh for updates.
Walgreens Boots (NASDAQ:WBA) stock rose 2.7% after the pharmacy chain posted a profit for the first quarter versus a loss a year ago, allowing the company to raise its full-year forecast. Heavy customer demand for Covid vaccines and tests were a big factor behind the results.
Bed Bath & Beyond (NASDAQ:BBBY) stock rose 3.3% in volatile trade and after dropping 10% during the previous session with the home goods retailer’s quarterly sales hurt by supply chain issues.
ConAgra (NYSE:CAG) stock fell 2.2% after the food company missed expectations for quarterly profit as raw material and shipping costs surged.
Lululemon Athletica (NASDAQ:LULU) stock fell 0.4% after footwear giant Nike (NYSE:NKE), down 0.4%, filed a lawsuit accusing the fitness clothing retailer of patent infringement over its Mirror fitness device and related mobile applications.
Allbirds (NASDAQ:BIRD) stock rose 5.8% after Morgan Stanley (NYSE:MS) upgraded its investment stance on the footwear retailer to “overweight” from “equal weight”, noting that the stock has fallen below its IPO price but it still has strong growth prospects.
Target (NYSE:TGT) stock fell 2.1% and Dollar General (NYSE:DG) stock fell 2.3% after Wells Fargo downgraded the retailers, both to “equal weight” from “overweight”, citing concerns that retail growth could slow.
Crowdstrike (NASDAQ:CRWD) stock rose 0.6% after Wells Fargo (NYSE:WFC) initiated coverage on the cybersecurity provider at “overweight”, saying the struggling stock can jump 50%.
Coinbase (NASDAQ:COIN) stock rose 0.6% after Bank of America upgraded its investment stance on the cryptocurrency exchange to “buy” from “neutral”, saying it is more than just a trading house.
Netflix (NASDAQ:NFLX) stock fell 2% after JPMorgan cut its price target on the movie streaming platform’s stock to $725 from $750, with the investment bank expecting fourth quarter subscriber additions to disappoint.
Uranium Energy (NYSE:UEC) rose 7.1% with the mining and exploration company benefiting from the likely disruption of supply from Kazakhstan, the world’s largest exporter of uranium, following the violent protests.
Source: Investing.com
