Bed Bath & Beyond, Pepsi and Starbucks Rise Premarket
Investing.com
Published Oct 01, 2020 08:06AM ET
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Thursday, October 1st. Please refresh for updates.
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PepsiCo (NASDAQ:PEP) stock rose 1.5% after its quarterly revenue grew more than 5%, boosted by higher snacks sales, and forecast full-year profit above market expectations.
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Palantir (NYSE:PLTR) stock will be in focus ahead of its second day of trading. The secretive data firm rose over 30% Wednesday after its direct listing on the New York Stock Exchange.
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Starbucks (NASDAQ:SBUX) stock rose 1.1% after the board of the coffee chain approved a 10% increase in its quarterly cash dividend, suggesting increased confidence in the company’s growth prospects.
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Morgan Stanley (NYSE:MS) stock rose 0.9% after the banking giant received approval from the Federal Reserve to acquire discount brokerage E*Trade Financial (NASDAQ:ETFC). The deal is expected to be completed on Friday.
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Alphabet (NASDAQ:GOOGL) (NASDAQ:GOOG) stock rose 1.3% after its CEO said the Google unit plans to pay $1 billion to publishers globally for their content over the next three years.
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Bed Bath & Beyond (NASDAQ:BBBY) stock rose 11% after the retailer reported its first same-store sales increase in nearly four years, boosted by a 80% surge in its online business.
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Tesla (NASDAQ:TSLA) stock rose 2.4% after cutting the starting price of its China-made Model 3, with the standard Model 3 to include a cheaper battery than the one currently used.
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American Airlines (NASDAQ:AAL) stock rose 2% after saying it will start laying off 19,000 workers as it needs to cut costs given the lack of customers during the pandemic. The airline will reverse the move if the government agrees to provide additional aid in the next few days, said CEO Doug Parker.
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HP (NYSE:HPQ) stock rose 1.3% after agreeing to pay a $6 million fine to settle SEC charges it misled investors by failing to disclose the impact of sales practices it used to meet quarterly sales and earnings targets.
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Marathon Petroleum (NYSE:MPC) stock rose 0.4% after cutting 12% of its workforce to compensate for the weak energy prices. It will take a $175 million charge as part of the restructuring.
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