Investing.com | May 02, 2023 13:00
Investing.com — Stocks in focus in premarket trade on Tuesday, May 2nd. Please refresh for updates.
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Pfizer (NYSE:PFE) stock rose 0.9% after the pharma giant beat first-quarter profit expectations as strong demand for new products helped offset declining sales of its COVID-19 products.
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Uber (NYSE:UBER) stock rose 7.9% after the ride-hailing firm reported strong first-quarter results and forecast quarterly core earnings above estimates after a surge in demand for travel and food delivery.
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Tesla (NASDAQ:TSLA) stock fell 0.3% after the electric car manufacturer raised prices in Canada, China, Japan, and the United States, its website showed on Monday, after having slashed prices on its top-selling vehicles since the start of the year.
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Restaurant Brands (NYSE:QSR) stock rose 0.6% after the company beat expectations for quarterly revenue, boosted by higher prices and increased traffic at its Burger King and Tim Hortons chains.
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Chegg (NYSE:CHGG) stock slumped over 41% after the educational services company issued disappointing second-quarter guidance, citing increasing competition from ChatGPT.
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Marriott International (NASDAQ:MAR) stock rose 1.8% after the hotel operator raised its full-year profit forecast, citing pent-up demand for leisure and business travel.
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HSBC (LON:HSBA) (NYSE:HSBC) ADRs rose 5.8% after the Asia-focused bank reported a tripling in profit in the first quarter, helping the lender pay its first quarterly dividend since 2019.
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BP (LON:BP) (NYSE:BP) ADRs fell 5.1% after the energy giant slowed the pace of share buybacks, announcing it will repurchase $1.75 billion of shares before announcing second-quarter results, down by $1B from the prior period. Its first-quarter net income came in just under $5B, down from $6.25B a year earlier.
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Coinbase (NASDAQ:COIN) stock fell 1.6% after Citigroup downgraded its stance on the cryptocurrency exchange to ‘neutral’ and ‘buy’, seeing a lot of regulatory uncertainty surrounding its story.
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Written By: Investing.com
