Micron, Lululemon and BioNTech Rise Premarket; Five Below Falls
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Wednesday, March 30th. Please refresh for updates.
Micron Technology (NASDAQ: MU ) stock rose 3.4% after the company gave a robust forecast for the ongoing quarter, suggesting demand for its memory chips from data centers remains strong.
Lululemon Athletica (NASDAQ: LULU ) stock rose 6.8% after the athletic apparel retailer forecast full-year profit and revenue above estimates as demand has held up even as people return to offices, adding it plans selective price increases.
BioNTech (NASDAQ: BNTX ) stock rose 6.7% after the drugmaker beat fourth quarter estimates, helped by surging cash flows from its Covid-19 vaccines, while announcing a special dividend and a likely share buyback of up to $1.5 billion.
Five Below (NASDAQ: FIVE ) stock fell 4.2% after the discount store’s quarterly revenue and comparable sales came in below expectations.
RH (NYSE: RH ) stock fell 3.8% after the home furnishings chain disappointed with its revenues for the latest quarter , while announcing an upcoming three-for-one stock split.
Chewy (NYSE: CHWY ) stock slumped over 13% after the pet supplies retailer reported a wider than expected quarterly loss and also issued weak revenue guidance for the first quarter and the full year.
Pearson (NYSE: PSO ) ADRs fell 9.9% after the education group rejected a third takeover offer from Apollo to the tune of 6.7 billion pounds ($8.8 billion), prompting the U.S. investment company to walk away.
PayPal (NASDAQ: PYPL ) stock rose 1.4% after Goldman Sachs initiated coverage on the online payments provider with a ‘buy’ rating, after falling 35% this year.
Royal Caribbean (NYSE: RCL ) stock fell 0.3% and Carnival (NYSE: CCL ) stock fell 1.4% after Wells Fargo started coverage of the cruise liners with respective ‘overweight’ and ‘underweight’ ratings.
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