Walgreens, AMD, and Baidu Fall Premarket; Novavax Rises

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Walgreens, AMD, and Baidu Fall Premarket; Novavax Rises
Credit: © Reuters.

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Thursday, March 31st. Please refresh for updates.

  • Walgreens Boots Alliance (NASDAQ: WBA ) stock fell 2.4% after the pharmacy chain posted disappointing second quarter revenue, hit by a decline in sales at its AllianceRx business.

  • Advanced Micro Devices (NASDAQ: AMD ) stock fell 1.9% after Barclays downgraded its stance on the semiconductor to ‘equal weight’ from ‘overweight’, saying it’s time to move to the sidelines after gains of around 10% this month.

  • HP (NYSE: HPQ ) stock fell 4.2% and Dell Technologies (NYSE: DELL ) stock dropped 4.3% after Morgan Stanley downgraded both computer manufacturers to ‘equal weight’ from ‘overweight’, citing worries over PC demand.

  • Exxon Mobil (NYSE: XOM ) stock fell 2.3% and Chevron (NYSE: CVX ) stock dropped 1.8% after the sharp fall in oil prices on reports that the US plans a release of up to 180 million barrels from its Strategic Petroleum Reserve, the largest in the near-50-year history of the reserve.

  • CVS Health (NYSE: CVS ) stock fell 0.6% after the drugstore chain agreed to pay the state of Florida nearly $500 million to resolve claims and avert a trial over its roles in fueling an opioid epidemic.

  • Baidu (NASDAQ: BIDU ) stock fell 3% after the SEC added the search engine to its tally of US-traded Chinese stocks that could be delisted over problems with financial audits.

  • Expensify (NASDAQ: EXFY ) stock slumped 9.3% after the expense management software company reported disappointing quarterly profit as well as a weaker-than-expected revenue forecast for the current quarter.

  • Novavax (NASDAQ: NVAX ) stock rose 1.3% after the drugmaker asked EU regulators to clear its COVID-19 vaccine for use in teenagers.

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