Target, ConAgra Fall Premarket; Walgreens, Bed Bath & Beyond Rise

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Target, ConAgra Fall Premarket; Walgreens, Bed Bath & Beyond Rise
Credit: © Reuters.

By Peter Nurse 

Investing.com -- Stocks in focus in premarket trade on Thursday, January 6th. Please refresh for updates.

  • Walgreens Boots (NASDAQ: WBA ) stock rose 2.7% after the pharmacy chain posted a profit for the first quarter versus a loss a year ago, allowing the company to raise its full-year forecast. Heavy customer demand for Covid vaccines and tests were a big factor behind the results.

  • Bed Bath & Beyond (NASDAQ: BBBY ) stock rose 3.3% in volatile trade and after dropping 10% during the previous session with the home goods retailer's quarterly sales hurt by supply chain issues.

  • ConAgra (NYSE: CAG ) stock fell 2.2% after the food company missed expectations for quarterly profit as raw material and shipping costs surged.

  • Lululemon Athletica (NASDAQ: LULU ) stock fell 0.4% after footwear giant Nike (NYSE: NKE ), down 0.4%, filed a lawsuit accusing the fitness clothing retailer of patent infringement over its Mirror fitness device and related mobile applications. 

  • Allbirds (NASDAQ: BIRD ) stock rose 5.8% after Morgan Stanley (NYSE: MS ) upgraded its investment stance on the footwear retailer to “overweight” from “equal weight”, noting that the stock has fallen below its IPO price but it still has strong growth prospects.

  • Target (NYSE: TGT ) stock fell 2.1% and Dollar General (NYSE: DG ) stock fell 2.3% after Wells Fargo downgraded the retailers, both to “equal weight” from “overweight”, citing concerns that retail growth could slow. 

  • Crowdstrike (NASDAQ: CRWD ) stock rose 0.6% after Wells Fargo (NYSE: WFC ) initiated coverage on the cybersecurity provider at “overweight”, saying the struggling stock can jump 50%.

  • Coinbase (NASDAQ: COIN ) stock rose 0.6% after Bank of America upgraded its investment stance on the cryptocurrency exchange to “buy” from “neutral”, saying it is more than just a trading house.

  • Netflix (NASDAQ: NFLX ) stock fell 2% after JPMorgan cut its price target on the movie streaming platform's stock to $725 from $750, with the investment bank expecting fourth quarter subscriber additions to disappoint. 

  • Uranium Energy (NYSE: UEC ) rose 7.1% with the mining and exploration company benefiting from the likely disruption of supply from Kazakhstan, the world's largest exporter of uranium, following the violent protests.

 

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