By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Thursday, January 12th. Please refresh for updates.

• Walt Disney (NYSE: DIS) stock rose 1.9% after the entertainment giant named Mark Parker, the executive chairman of Nike (NYSE: NKE), its next chairman while opposing activist investor Nelson Peltz's attempt to join the board.

• Bed Bath & Beyond (NASDAQ: BBBY) stock soared 21.7%, continuing to rebound as this former meme favorite comes back into fashion despite weak quarterly results.

• Netflix (NASDAQ: NFLX) stock rose 1.3% after Jefferies upgraded its stance on the streaming giant to 'buy' from 'hold', saying it should offer investors a degree of safety as it cracks down on password sharing.

• KB Home (NYSE: KBH) stock fell 3% after the homebuilder posted disappointing fourth quarter earnings and revenue as its net orders plunged and the value of its backlog fell 25% against the same quarter last year.

• American Airlines (NASDAQ: AAL) stock rose 5% after the carrier expects its fourth quarter earnings to beat its previously issued guidance after strong demand late in the year.

• Cleveland-Cliffs (NYSE: CLF) stock rose 2.6% after Morgan Stanley upgraded the steel producer to 'overweight' from 'equal weight', saying the stock can jump 35%.

• Roku (NASDAQ: ROKU) stock fell 3.1% after Jefferies downgraded the video streaming device maker to 'underperform' from 'hold', saying its growth potential is likely to be tempered by a tough macro environment.

• Spotify (NYSE: SPOT) stock fell 1.9% after Jefferies downgraded the music streaming platform to 'hold' from 'buy', citing the possible impact of the looming recession.

• Boeing (NYSE: BA) stock rose 0.4% after Credit Suisse upgraded the aircraft manufacturer to 'neutral' from 'sell', citing the company's improved operational performance.

• Anheuser-Busch InBev (NYSE: BUD) ADRs fell 2.4% after UBS downgraded its stance on the brewing giant to 'sell' from 'neutral' as drinkers continue to pick spirits over beer.