Campbell Soup, Occidental Petroleum and WeWork rise premarket; Stitch Fix falls
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Wednesday, March 8th. Please refresh for updates.
Campbell Soup (NYSE: CPB) stock rose 0.7% after the food company raised its annual sales forecast, betting on higher prices, improved supply, and strong demand for its packaged meals and snacks.
Occidental Petroleum (NYSE: OXY) stock rose 3% after Warren Buffett’s Berkshire Hathaway (NYSE: BRKa) increased its stake in the oil company, buying another near 5.8 million shares, according to a regulatory filing disclosed late Tuesday.
Tesla (NASDAQ: TSLA) stock fell 1.3% after Berenberg downgraded its stance on the electric vehicle manufacturer to ‘hold’ from ‘buy’ on valuation, while data showed China's passenger vehicle sales fell 20% in the first two months of this year.
WeWork (NYSE: WE) stock rose 7.9% after the New York Times reported the workspace provider was in talks to restructure its outstanding debt of more than $3 billion and raise more cash.
Crowdstrike (NASDAQ: CRWD) stock rose 5.7% after the cybersecurity company offered upbeat full-year guidance after fourth-quarter results beat expectations on continued demand for cybersecurity solutions.
Stitch Fix (NASDAQ: SFIX) stock fell 9.5% after the personal styling platform missed on revenue and forecast lower-than-expected sales for the fiscal third quarter.
Palantir Technologies (NYSE: PLTR) stock rose 0.6% after the data analytics firm won a contract to sell up to $99.6 million worth of software to the U.S. Department of State for monitoring the health of the diplomatic corps.
Silvergate (NYSE: SI) stock rose 0.4% after Bloomberg reported the cryptocurrency bank is in talks with regulators, aiming to find a way to stave off collapse.