Uber, Pfizer, Marriott rise premarket; Tesla, Chegg fall

Investing.com -- Stocks in focus in premarket trade on Tuesday, May 2nd. Please refresh for updates.

• Pfizer (NYSE: PFE) stock rose 0.9% after the pharma giant beat first-quarter profit expectations as strong demand for new products helped offset declining sales of its COVID-19 products.

• Uber (NYSE: UBER) stock rose 7.9% after the ride-hailing firm reported strong first-quarter results and forecast quarterly core earnings above estimates after a surge in demand for travel and food delivery.

• Tesla (NASDAQ: TSLA) stock fell 0.3% after the electric car manufacturer raised prices in Canada, China, Japan, and the United States, its website showed on Monday, after having slashed prices on its top-selling vehicles since the start of the year.

• Restaurant Brands (NYSE: QSR) stock rose 0.6% after the company beat expectations for quarterly revenue, boosted by higher prices and increased traffic at its Burger King and Tim Hortons chains.

• Chegg (NYSE: CHGG) stock slumped over 41% after the educational services company issued disappointing second-quarter guidance, citing increasing competition from ChatGPT.

• Marriott International (NASDAQ: MAR) stock rose 1.8% after the hotel operator raised its full-year profit forecast, citing pent-up demand for leisure and business travel.

• HSBC (NYSE: HSBC) ADRs rose 5.8% after the Asia-focused bank reported a tripling in profit in the first quarter, helping the lender pay its first quarterly dividend since 2019.

• BP (NYSE: BP) ADRs fell 5.1% after the energy giant slowed the pace of share buybacks, announcing it will repurchase $1.75 billion of shares before announcing second-quarter results, down by $1B from the prior period. Its first-quarter net income came in just under $5B, down from $6.25B a year earlier.

• Coinbase (NASDAQ: COIN) stock fell 1.6% after Citigroup downgraded its stance on the cryptocurrency exchange to ‘neutral’ and ‘buy’, seeing a lot of regulatory uncertainty surrounding its story.

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