HP, Levi Strauss, Roblox Rise Premarket; JD.com, Wayfair Drop

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HP, Levi Strauss, Roblox Rise Premarket; JD.com, Wayfair Drop

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Thursday, April 7th. Please refresh for updates.

  • Levi Strauss (NYSE: LEVI ) stock rose 2% after the denim retailer reported better than expected first-quarter earnings , selling more of its higher priced jeans and T-shirts.

  • HP (NYSE: HPQ ) stock soared over 12% after Warren Buffett’s Berkshire Hathaway (NYSE: BRKa ), up 0.2%, disclosed it had bought a $4.2 billion stake in the information technology company.

  • Meta Platforms (NASDAQ: FB ) stock rose 0.7% following reports the owner of Facebook is working on a plan to introduce virtual coins, tokens and lending services to its apps.

  • Euronav (NYSE: EURN ) stock rose 10% after the Belgian oil tanker group announced plans to merge with smaller Oslo-listed rival Frontline (NYSE: FRO ), down 5.3%, in an all-stock transaction valued at $4.2 billion, a move aimed at cutting costs.

  • Ford (NYSE: F ) stock fell 1.2% after Barclays downgraded its stance on the auto giant to ‘equal weight’ from ‘overweight’, saying the company will struggle as chip shortages continue.

  • JD.com (NASDAQ: JD ) ADRs fell 1.4% after the billionaire founder of the Chinese e-commerce giant, Richard Liu, stepped down from the CEO role as Beijing continues to tighten regulation on its domestic technology sector.

  • Roblox (NYSE: RBLX ) stock rose 2% after Citigroup started coverage of the online game creator with a ‘buy’ rating, saying it’s now trading at an attractive price after a rough start to the year.

  • Wayfair (NYSE: W ) stock fell 3.4% after Wells Fargo downgraded its stance to ‘underweight’ from ‘equal weight’, saying inflation and uncertainty in the housing market will hurt the online furniture retailer.

  • Pfizer (NYSE: PFE ) stock rose 0.2% after the drugmaker announced plans to buy privately-held ReViral for as much as $525 million, to gain access to some experimental drugs.

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