Bed Bath&Beyond, Chegg fall premarket; Boeing, Hertz, BP rise
- Wall Street ends volatile week higher as Fed officials ease bank fears
- Deutsche Bank shares plunge after spike in credit default swaps
- 6-week inflows to bonds? Biggest ever; 7-day inflows to cash? $142.9 billion; Policy panic now 'inevitable' - BofA's Hartnett
- World stocks gyrate as bank contagion fears bite
- Activision (ATVI) gains 5% as UK's CMA narrows concerns scope in Microsoft (MSFT) deal
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Overall Analyst Rating:
BUY (= Flat)
Dividend Yield: 2.4%
Revenue Growth %: +26.5%
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By Peter Nurse
Investing.com -- 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.
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