Apple, UPS, Bilibili rise premarket; Hibbett, Chemours fall

November 29, 2022 8:30 AM EST

By Peter Nurse -- Stocks in focus in premarket trade on Tuesday, November 29th. Please refresh for updates.

  • Apple (NASDAQ: AAPL) stock rose 0.5%, rebounding on Chinese COVID optimism after earlier losses on unrest at the plant of a key iPhone supplier.

  • Hibbett Sports (NASDAQ: HIBB) stock fell 5.8% after the sporting goods retailer missed quarterly estimates, as higher expenses cut into its profit margins

  • Chemours (NYSE: CC) stock fell 6% after the chemicals maker said its full-year earnings were set to fall below the low-end of its guidance range.

  • United Parcel Service (NYSE: UPS) stock rose 1.4% after Deutsche Bank upgraded its stance on the delivery giant to ‘buy’ from ‘hold’, saying all the associated macro concerns are now priced into the stock.

  • Roku (NASDAQ: ROKU) stock fell 3.1% after KeyBanc downgraded the video-streaming device maker to ‘sector weight’ from ‘overweight’, saying it faces a challenging road to profitability.

  • Darden Restaurants (NYSE: DRI) stock fell 0.4% after Baird downgraded the multi-brand restaurants operator to ‘neutral’ from ‘overweight’, saying macro risks remain.

  • Bilibili (NASDAQ: BILI) stock rose over 10% after the Chinese video sharing website reported strong quarterly numbers, with the company’s daily and monthly active users increasing by 25% over a year earlier.

  • HSBC (NYSE: HSBC) ADRs rose 5.1% after the U.K.-based bank said it will sell its Canadian business to Royal Bank of Canada (NYSE: RY), its latest move to withdraw from its global ambitions in an effort to improve profitability.

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