Today's Pre-Market Stock Movers: BBBY,LYFT,LULU,AMD and More
Gapping up
$Bed Bath & Beyond Inc(BBBY.US$ +5.78% (The company had a dramatic start to the year, even as the retailer warns of a potential bankruptcy. Year to date, Bed Bath & Beyond shares are up 17.1%.)
$Lyft Inc(LYFT.US$ +3.4% (The company was upgraded by KeyBanc, which Lyft should feel positive impacts from cost-saving measures including layoffs and a stabilization in demand.）
$Johnson & Johnson(JNJ.US$ +1% (The company reported mixed quarterly financial results. Johnson & Johnson beat profit estimates by 10 cents per share, excluding items, according to Refinitiv. It also missed revenue estimates. Its full-year outlook for earnings was slightly higher than estimates while its revenue forecast was about in line with estimates.)
$Blackstone(BX.US$ +1.3% (JPMorgan upgraded Blackstone to overweight from neutral, saying the investment management firm is a “best in class” business that's set for a soft landing.)
$Lockheed Martin(LMT.US$ +1.52% (The company posted latest quarterly results. The defense company's revenue came in at $18.99 billion, topping a Refinitiv forecast of $18.27 billion. Lockheed's earnings per share also topped expectations.)
Gapping down
$Verizon(VZ.US$ -1.51% (The company posted mixed results for the 2022 fourth quarter. While earnings met analyst predictions, forward earnings fell short of a Refinitiv consensus estimate.)
$Lululemon Athletica(LULU.US$ -2.07% (Bernstein downgraded the stock, warning that a reset is coming for the apparel stock and noting the company is facing an inflection point in its growth.)
$Advanced Micro Devices(AMD.US$ -2% (Bernstein downgraded the chipmaker to market perform from outperform. The Wall Street firm said the downgrade is due to the sliding computer and new parts demand in the inflationary environment.)
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