Marriott, Intel, Rivian Rise Premarket; Weber, Gap Fall

  • Stock Market News
Marriott, Intel, Rivian Rise Premarket; Weber, Gap Fall
Credit: © Reuters.

By Peter Nurse -- Stocks in focus in premarket trade on Tuesday, February 15th. Please refresh for updates.

  • Intel (NASDAQ: INTC ) stock rose 1.4% after the Wall Street Journal reported that the chip giant is close to buying Israeli chipmaker Tower Semiconductor (NASDAQ: TSEM ), up 41%, for nearly $6 billion.

  • Microsoft (NASDAQ: MSFT ) stock rose 2.2% after the disclosure that Warren Buffett's Berkshire Hathaway (NYSE: BRKa ), up 1.4%, invested about $1 billion in Activision Blizzard (NASDAQ: ATVI ) stock before the world's second most valuable company bought the video games publisher.

  • Marriott International (NASDAQ: MAR ) stock rose 2.9% after the hotel chain posted a quarterly profit, compared to a loss a year earlier, as increasing vaccination rates and holiday-season traffic boosted occupancy rates across its hotels.

  • Rivian (NASDAQ: RIVN ) stock rose 5.8% on the news that seven state government employee pension funds as well as a few hedge funds bought into the EV-maker during the final quarter of last year.

  • Restaurant Brands (NYSE: QSR ) stock rose 1.4% after the Burger King parent beat quarterly revenue estimates at its restaurant chains after Covid-19 curbs were eased in Canada and the United States.

  • Weber (NYSE: WEBR ) stock fell 5.7% after JPMorgan downgraded its stance on the manufacturer of outdoor grills to ‘neutral’ from ‘overweight’, seeing the stock as expensive even after a tricky start to the year.

  • Gap (NYSE: GPS ) stock fell 1.9% after Bank of America downgraded its stance on the clothes retailer to ‘underperform’ from ‘neutral’, saying its Old Navy brand will struggle to replicate last year’s impressive first half sales in 2022.

  • Monster Beverage (NASDAQ: MNST ) stock rose 3.9% and Constellation Brands (NYSE: STZ ) stock rose 2.2% after Bloomberg reported that the two companies were in merger talks.

  • Arista Networks (NYSE: ANET ) stock rose 9.8% after the computer networking company beat quarterly earnings estimates and also provided an upbeat outlook.

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