Palantir, Coca-Cola, Occidental Petroleum rise premarket; Restaurant Brands fell
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Tuesday, February 14th. Please refresh for updates.
Palantir (NYSE: PLTR) stock rose 17% after the data analytics company reported its first-ever quarterly profit, as well as a top- and bottom-line beat in the final three months of 2022, boosted by an increase in customers.
Coca-Cola (NYSE: KO) stock rose 1% after the soft drinks giant reported strong revenue growth in the fourth quarter and forecast 2023 profit above analysts' estimates, betting on resilient demand for its sodas despite multiple price hikes to tackle rising costs.
Restaurant Brands (NYSE: QSR) stock fell 3.3% despite beating quarterly revenue estimates, boosted by strong demand at three of its main restaurant chains. The Burger King owner named company veteran and Chief Operating Officer Joshua Kobza as its new chief executive.
Ford (NYSE: F) stock rose 0.3% after the auto giant announced plans to cut 3,800 jobs in Europe over the next three years as part of a push towards producing electric vehicles on the continent.
Occidental Petroleum (NYSE: OXY) stock rose 1.2% after Goldman Sachs upgraded its stance on the energy company to 'buy' from 'neutral', saying its recent underperformance makes it cheap.
Palo Alto Networks (NASDAQ: PANW) stock rose 1.1% after Goldman Sachs initiated coverage of the cybersecurity company with the 'buy' rating, citing the company's diversification.
First Solar (NASDAQ: FSLR) stock fell 2.4% after Evercore ISI downgraded its stance on the company to 'in line' from 'outperform', saying its tailwinds may already be priced in.