By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Wednesday, March 9th. Please refresh for updates.
Bumble (NASDAQ: BMBL ) stock soared 21% after the dating app said 2022 revenue could rise by more than 23%, an optimistic forecast, given the company’s decision to leave the important Russian market.
Stitch Fix (NASDAQ: SFIX ) stock fell 26% after the online personal styling service offered up a disappointing outlook for the third quarter, and cut its full-year forecast.
Macy’s (NYSE: M ) stock rose 3.1% after the department store chain decided to repay its existing debt at cheaper rates, proof that cash isn’t an issue for a company that has bounced back in recent quarters.
Apple (NASDAQ: AAPL ) stock rose 2.1% the day after the tech giant held its ‘Peek Performance’ event, where it announced its newest version of the iPhone SE with its latest mobile processor and 5G capability.
JB Hunt (NASDAQ: JBHT ) stock rose 3.7% after Goldman Sachs upgraded its stance on the transportation company to ‘buy’ from ‘neutral’, saying the company is likely to see a boost in the second half of the year as supply chain congestion eases.
Coinbase (NASDAQ: COIN ) stock rose 6.2% with the cryptocurrency exchange benefiting from the jump in bitcoin. Bitcoin , the most valuable of the digital currencies, jumped after a prematurely published U.S. Treasury statement allayed market worries about a sudden tightening of U.S. rules around digital assets.
PayPal (NASDAQ: PYPL ) stock rose 1.9%, benefiting from the overall positive tone, despite the Bank of America downgrading the online payments company to ‘hold’ from ‘buy’, saying the company is in “transition year” and investors should wait for operational improvements.
Campbell Soup (NYSE: CPB ) stock rose 1.7% despite the company’s quarterly revenue fell short of market expectations, in a sign that demand for its sauces and broths is slowing from the pandemic-led surge. Still, it maintained its full-year forecast.
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