Shell, Dick's Sporting Goods Rise Premarket; Apple Edges Lower

  • Stock Market News
Shell, Dick's Sporting Goods Rise Premarket; Apple Edges Lower
Credit: © Reuters.

By Peter Nurse -- Stocks in focus in premarket trade on Tuesday, March 8th. Please refresh for updates.

  • Shell (NYSE: SHEL ) rose 0.8% after the oil major apologized for buying a heavily discounted consignment of Russian oil last week and announced it was withdrawing from involvement in the country.

  • Moderna (NASDAQ: MRNA ) stock fell 1.8% after the drugmaker signaled that it may begin to enforce patents of its COVID-19 vaccine in wealthier countries.

  • Apple (NASDAQ: AAPL ) stock fell 0.5% with the tech giant hosting its spring product launch event, with a 5G budget-friendly iPhone and a new iPad, topping expectations.

  • Dick’s Sporting Goods (NYSE: DKS ) stock rose 6.5% after the sporting goods retailer beat expectations with its important holiday quarter, offered an upbeat 2022 forecast, and approved a 11% increase to its quarterly dividend.

  • Tesla (NASDAQ: TSLA ) stock fell 0.7% after the electric vehicle maker sold 56,515 China-made vehicles in February, only slightly lower than the 59,845 sold in January despite supply side difficulties.

  • Caterpillar (NYSE: CAT ) stock rose 1.8% after Jefferies upgraded its stance on the heavy equipment manufacturer to ‘buy’ from ‘hold’, saying the stock could be used as a hedge against commodity inflation.

  • Alphabet (NASDAQ: GOOGL ) stock fell 0.6% after its Google unit said it would buy cybersecurity firm Mandiant for $5.4 billion in cash, aiming to boost the tech giant’s cloud computing business.

  • Dell Technologies (NYSE: DELL ) stock rose 2.7% after Evercore ISI upgraded its stance on the computer manufacturer to ‘outperform’ from ‘in line’, expecting a solid year and 20% potential upside.

  • Estee Lauder (NYSE: EL ) stock rose 0.04% after the makeup company said it had decided to suspend all commercial activities in Russia, including closing all its stores in the country.

  • Dollar Tree (NASDAQ: DLTR ) stock rose 1.5% after the discount store operator announced Paul Hilal, founder of activist investment firm Mantle Ridge, has joined its board.

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