Nvidia, HP and Ford rise premarket; Big Lots falls
Investing.com -- Stocks in focus in premarket trade on Tuesday, May 30th. Please refresh for updates.
Nvidia (NASDAQ: NVDA) stock rose 3.8%, with the chipmaker on course to join the $1 trillion club in terms of market capitalization for the first time, after last week it stunned investors with an impressive revenue forecast on the back of demand for AI.
HP (NYSE: HPQ) stock rose 0.7% ahead of the personal computer and printer maker's second quarter earnings, due after the close, with investors keen to see the extent of a post-pandemic slide in PC demand.
Ford (NYSE: F) stock rose 3.3% after Jefferies upgraded its stance on the auto giant to 'buy' from 'hold' following last week's investor event, saying its shares have more than 30% upside.
Coherent (NYSE: COHR) stock rose 9.3% after the maker of industrial and fiber laser equipment announced that it expects to take $150 million to $200 million in charges related to its restructuring plan.
Stratasys (NASDAQ: SSYS) stock rose 0.6% after the manufacturer of 3D printers and 3D production systems rejected the latest bid from rival Nano Dimension (NASDAQ: NNDM), down 1.6%. Stratasys entered into a definitive agreement to combine with Desktop Metal in an all-stock transaction earlier this month.
Coinbase (NASDAQ: COIN) stock rose 4% after Atlantic Equities upgraded the cryptocurrency exchange to 'overweight' from 'neutral', saying its first quarter results confirmed the management's focus on returning the business to sustainable profitability.
Big Lots (NYSE: BIG) stock fell 3%, continuing Friday’s selloff after the furniture retailer reported weaker-than-expected first quarter results and suspended its dividend.
Boston Beer (NYSE: SAM) stock rose 1.4% after Roth/MKM upgraded its stance on the beverages company to 'buy' from 'neutral', noting areas of upside at Seltzer and Truly.