Apple, Bed Bath & Beyond, Tilray Rise Premarket; Honest Company Slumps
Investing.com
Published Mar 25, 2022 08:10AM ET
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Friday, March 25th. Please refresh for updates.
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FedEx (NYSE:FDX) stock rose 0.4% with the delivery giant set to test electric carts to make deliveries on its signature Express routes in 10 U.S. and Canadian cities throughout 2022.
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Apple (NASDAQ:AAPL) stock rose 0.2% following a Bloomberg report that the tech giant is looking at launching subscription plans for its hardware, including iPhones. Big Tech, in general, is likely to be in focus after the EU unveiled new draft legislation aiming at curbing their market power.
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Nio (NYSE:NIO) ADRs fell 5% after the China-based electric car maker guided for first quarter revenues well below market expectations.
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Honest Company (NASDAQ:HNST) stock fell 18% after the consumer products company reported a weaker-than-expected fourth quarter, hindered by a drop in hand sanitizers and face masks.
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Tilray (NASDAQ:TLRY) stock soared 18%, with cannabis stocks benefiting from the news that the House of Representatives will consider the Marijuana Opportunity Reinvestment and Expungement Act next week.
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Bed Bath & Beyond (NASDAQ:BBBY) stock rose 9% after Bloomberg reported that the housewares retailer is close to reaching a settlement with investor Ryan Cohen, which would see three new directors appointed to the company’s board.
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Teva Pharma (NYSE:TEVA) ADRs rose 4.5% after Bernstein upgraded its stance on the drugmaker to “outperform” from “market perform,” citing the potential of settling opioid litigation.
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Fortinet (NASDAQ:FTNT) stock fell 1.5% after Bank of America downgraded its stance on the cybersecurity company to “neutral” from “buy,” saying its recent strong results are already reflected in the price.
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