Disney, Netflix and American Airlines rise premarket; Roku, Spotify fall

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Disney, Netflix and American Airlines rise premarket; Roku, Spotify fall

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Thursday, January 12th. Please refresh for updates.

  • Walt Disney (NYSE: DIS ) stock rose 1.9% after the entertainment giant named Mark Parker, the executive chairman of Nike (NYSE: NKE ), its next chairman while opposing activist investor Nelson Peltz's attempt to join the board.

  • Bed Bath & Beyond (NASDAQ: BBBY ) stock soared 21.7%, continuing to rebound as this former meme favorite comes back into fashion despite weak quarterly results .

  • Netflix (NASDAQ: NFLX ) stock rose 1.3% after Jefferies upgraded its stance on the streaming giant to 'buy' from 'hold', saying it should offer investors a degree of safety as it cracks down on password sharing.

  • KB Home (NYSE: KBH ) stock fell 3% after the homebuilder posted disappointing fourth quarter earnings and revenue as its net orders plunged and the value of its backlog fell 25% against the same quarter last year.

  • American Airlines (NASDAQ: AAL ) stock rose 5% after the carrier expects its fourth quarter earnings to beat its previously issued guidance after strong demand late in the year.

  • Cleveland-Cliffs (NYSE: CLF ) stock rose 2.6% after Morgan Stanley upgraded the steel producer to 'overweight' from 'equal weight', saying the stock can jump 35%.

  • Roku (NASDAQ: ROKU ) stock fell 3.1% after Jefferies downgraded the video streaming device maker to 'underperform' from 'hold', saying its growth potential is likely to be tempered by a tough macro environment.

  • Spotify (NYSE: SPOT ) stock fell 1.9% after Jefferies downgraded the music streaming platform to 'hold' from 'buy', citing the possible impact of the looming recession.

  • Boeing (NYSE: BA ) stock rose 0.4% after Credit Suisse (SIX: CSGN ) upgraded the aircraft manufacturer to 'neutral' from 'sell', citing the company's improved operational performance.

  • Anheuser-Busch InBev (NYSE: BUD ) ADRs fell 2.4% after UBS downgraded its stance on the brewing giant to 'sell' from 'neutral' as drinkers continue to pick spirits over beer.

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