Walmart, Home Depot and Credit Suisse fall premarket; General Mills rises

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Walmart, Home Depot and Credit Suisse fall premarket; General Mills rises

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Tuesday, February 21st. Please refresh for updates.

  • Walmart (NYSE: WMT ) stock fell 3.9% after the retail giant forecast full-year earnings below estimates, saying it was cautious about the economic outlook for the coming year.

  • Home Depot (NYSE: HD ) stock fell 4% after the home improvement chain posted a surprise drop in fourth-quarter comparable sales and forecast annual profit below expectations on Tuesday as it grapples with higher costs and a tighter labor market.

  • General Mills (NYSE: GIS ) stock rose 1.5% after the packaged food manufacturer raised its annual organic sales and profit forecast, seeing strong demand for its popular snack bars and breakfast cereals.

  • Meta Platforms (NASDAQ: META ) stock rose 1.8% after the social media giant announced a new paid subscription service on its Facebook and Instagram platforms.

  • Visa (NYSE: V ) stock fell 1.1% and Mastercard (NYSE: MA ) stock fell 0.8% after Sky News reported that the payments giants face a major class action lawsuit on behalf of British businesses.

  • Vir Biotechnology (NASDAQ: VIR ) stock rose 12.3% after Goldman Sachs upgraded its stance on the biotech to ‘buy’ from ‘neutral’, saying its shares can more than double post COVID.

  • Credit Suisse (SIX: CSGN ) (NYSE: CS ) stock fell 5.6% following a report that Switzerland's financial watchdog is reviewing remarks from chairman Axel Lehmann about bank outflows.

  • HSBC (NYSE: HSBC ) ADRs rose 4.3% after the U.K. bank reported a sharp jump in its fourth-quarter profit on Tuesday and announced a special dividend on the sale of its Canadian business.

  • AutoNation (NYSE: AN ) stock fell 0.9% after JPMorgan downgraded its stance on the car dealer to 'underweight' from 'neutral', saying the stock is now overvalued.

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