Meta, Dick's Sporting Goods and WW International rise premarket; Rivian falls
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Tuesday, March 7th. Please refresh for updates.
Meta Platforms (NASDAQ: META) stock rose 1.8% after Bloomberg reported that the Facebook owner is planning thousands more job cuts in an attempt to restore profitability, with an announcement due as early as this week.
Dick's Sporting Goods (NYSE: DKS) stock rose 5.9% after the retailer reported stronger than expected sales during the holiday quarter as customers stayed loyal even with higher prices.
WW International (NASDAQ: WW) stock rose 17.5% after the company, also known as WeighWatchers, announced plans to acquire Sequence, a subscription telehealth platform.
Rivian Automotive (NASDAQ: RIVN) stock fell 5.5% after the electric vehicle manufacturer unveiled plans to sell bonds worth $1.3 billion.
Joby Aviation (NYSE: JOBY) stock fell 4.2% after Deutsche Bank downgraded its stance on the aviation company to 'sell' from 'hold', saying the risks to electric aircraft stock are being overlooked.
Embark Technology (NASDAQ: EMBK) stock fell 5.5%, following on from Monday's hefty losses after the autonomous truck manufacturer announced it would lay off 70% of its employees and potentially wind down the business.