Signet Jewelers, JPMorgan, Estée Lauder rise premarket; Herbalife falls
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Tuesday, December 6th. Please refresh for updates.
AutoZone (NYSE: AZO ) stock rose 0.7% after the retailer of automotive parts reported a big earnings beat, with first quarter same-store sales growing by 5.6%.
Signet Jewelers (NYSE: SIG ) stock rose 5.9% after the world’s largest retailer of diamond jewelry beat both top and bottom-line expectations in the third quarter and lifted its full-year guidance.
Herbalife (NYSE: HLF ) stock fell 12.1% after the marketing company proposed an offering of $250 million convertible notes.
Estée Lauder (NYSE: EL ) stock rose 2.7% after Deutsche Bank upgraded its stance on the cosmetics company to ‘buy’ from ‘hold’, citing the expected China reopening.
JPMorgan Chase (NYSE: JPM ) stock rose 0.9% after Morgan Stanley upgraded its stance on the investment bank all the way to ‘overweight’ from ‘underweight’, saying the lender is typically more resilient than its peers during a downturn.
Meta Platforms (NASDAQ: META ) stock fell 0.5% after the Facebook owner threatened to remove news from its platform if the U.S. Congress passes a proposal aimed at making it easier for news organizations to negotiate collectively.
PepsiCo (NASDAQ: PEP ) stock rose 0.1% after the Wall Street Journal reported that the soft drinks giant is set to lay off hundreds of people in North America in order to cut costs.
GitLab (NASDAQ: GTLB ) stock rose 16.6% after the development software firm reported a smaller quarterly loss than expected, while beating revenue expectations and offering up a strong full-year outlook.
General Electric (NYSE: GE ) stock rose 1.7% after Oppenheimer upgraded its stance on the industrial conglomerate to ‘outperform’ from ‘perform’, citing its debt reduction plan.
- Sumo Logic (NASDAQ: SUMO ) stock rose 9.8% after the big data firm beat Wall Street’s expectations with its third-quarter results and offered an upbeat forecast for the fourth quarter and full year.
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