By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Tuesday, February 7th. Please refresh for updates.
Boeing (NYSE:) stock rose 0.5% after the planemaker announced plans to cut about 2,000 jobs this year in finance and human resources through a combination of attrition and layoffs.
Bed Bath & Beyond (NASDAQ:) stock fell 31% after the troubled home goods retailer announced plans to raise some $1 billion through an offering of preferred stock and warrants in an attempt to stave off bankruptcy.
- Hertz (NASDAQ:) stock rose 3.9% after the car rental firm a quarterly profit versus a year-ago loss, as demand stayed strong amid surging leisure travel and constrained production from automakers.
Chegg (NYSE:) stock slumped 23% after the education technology company revealed disappointing full-year revenue guidance, citing economic uncertainties and subscriber growth worries.
- CVS Health (NYSE:) stock fell 0.1% after the Wall Street Journal reported the pharmacy chain is set to announce a deal to buy Oak Street Health (NYSE:), up 36%, for $10.5 billion, building out a growing presence in the primary healthcare market.
BP (NYSE:) ADRs rose 4.1% after the posted record annual , with underlying earnings soaring by just over 115% to $27.65 billion, while also announcing a 10% dividend increase and a further $2.75B in share buybacks in the first quarter.
Baidu (NASDAQ:) stock rose 12% after the said it’s close to completing tests of an AI project akin to Microsoft-backed ChatGPT.
Tyson Foods (NYSE:) stock fell 0.6% after Goldman Sachs downgraded its stance on the meat producer to ‘neutral’ from ‘buy’, citing worries about future profitability.