Bed Bath&Beyond, Chegg fall premarket; Boeing, Hertz, BP rise

February 7, 2023 8:54 AM EST

By Peter Nurse -- Stocks in focus in premarket trade on Tuesday, February 7th. Please refresh for updates.

  • Boeing (NYSE: BA) stock rose 0.5% after the planemaker announced plans to cut about 2,000 jobs this year in finance and human resources through a combination of attrition and layoffs.

  • Bed Bath & Beyond (NASDAQ: BBBY) stock fell 31% after the troubled home goods retailer announced plans to raise some $1 billion through an offering of preferred stock and warrants in an attempt to stave off bankruptcy.

  • Hertz (NASDAQ: HTZ) stock rose 3.9% after the car rental firm reported a quarterly profit versus a year-ago loss, as demand stayed strong amid surging leisure travel and constrained production from automakers.
  • Chegg (NYSE: CHGG) stock slumped 23% after the education technology company revealed disappointing full-year revenue guidance, citing economic uncertainties and subscriber growth worries.

  • CVS Health (NYSE: CVS) stock fell 0.1% after the Wall Street Journal reported the pharmacy chain is set to announce a deal to buy Oak Street Health (NYSE: OSH), up 36%, for $10.5 billion, building out a growing presence in the primary healthcare market.
  • BP (NYSE: BP) ADRs rose 4.1% after the energy giant posted record annual results, with underlying earnings soaring by just over 115% to $27.65 billion, while also announcing a 10% dividend increase and a further $2.75B in share buybacks in the first quarter.

  • Baidu (NASDAQ: BIDU) stock rose 12% after the Chinese search engine giant said it’s close to completing tests of an AI project akin to Microsoft-backed ChatGPT.

  • Tyson Foods (NYSE: TSN) stock fell 0.6% after Goldman Sachs downgraded its stance on the meat producer to ‘neutral’ from ‘buy’, citing worries about future profitability.

You May Also Be Interested In

Related Categories

Special Reports

Related Entities

Goldman Sachs, Earnings