Rent the Runway, Hershey, Exxon Mobil rose premarket; Tesla fell

December 8, 2022 8:53 AM EST

By Peter Nurse -- Stocks in focus in premarket trade on Thursday, December 8th. Please refresh for updates.

  • Rent the Runway (NASDAQ: RENT) stock rose 16% after the subscription-based fashion platform beat revenue expectations and raised its guidance for the full year, as active subscribers rose 15%

  • Hershey (NYSE: HSY) stock rose 1.8% after UBS upgraded its stance on the candy giant to ‘buy’ from ‘neutral’, adding the company’s strong 2022 is set to continue into the new year.

  • Tesla (NASDAQ: TSLA) stock fell 1.7% after Bloomberg reported that the electric car manufacturer plans to shorten shift hours at its Shanghai factory and has delayed onboarding of new staff at its most productive plant.

  • Exxon Mobil (NYSE: XOM) stock rose 1.4% after the oil giant announced its capital spending for 2023 would be closer to the top end of its annual target of $20 billion to $25B.

  • Alphabet (NASDAQ: GOOGL) stock rose 0.5% following reports the tech giant is considering merging its Waze and Maps divisions in an effort to cut costs, one of the first signs that pressure from activist investors is starting to generate results.

  • Salesforce (NYSE: CRM) stock fell 1% after Baird downgraded its stance on the software firm to ‘neutral’ from ‘outperform’, saying the exodus of the company’s executives brings “increased risk”.

  • TC Energy (NYSE: TRP) stock fell 0.5% after the energy company said it shut the Keystone pipeline after reports of an oil release into a creek in Nebraska.

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