Meta, Dick's Sporting Goods and WW International rise premarket; Rivian falls
Investing.com | Author Peter Nurse
Published Mar 07, 2023 07:45AM ET
Updated Mar 07, 2023 08:03AM ET
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Tuesday, March 7th. Please refresh for updates.
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Meta Platforms (NASDAQ:META) stock rose 1.8% after Bloomberg reported that the Facebook owner is planning thousands more job cuts in an attempt to restore profitability, with an announcement due as early as this week.
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Dick's Sporting Goods (NYSE:DKS) stock rose 5.9% after the retailer reported stronger than expected sales during the holiday quarter as customers stayed loyal even with higher prices.
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WW International (NASDAQ:WW) stock rose 17.5% after the company, also known as WeighWatchers, announced plans to acquire Sequence, a subscription telehealth platform.
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Rivian Automotive (NASDAQ:RIVN) stock fell 5.5% after the electric vehicle manufacturer unveiled plans to sell bonds worth $1.3 billion.
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Joby Aviation (NYSE:JOBY) stock fell 4.2% after Deutsche Bank downgraded its stance on the aviation company to 'sell' from 'hold', saying the risks to electric aircraft stock are being overlooked.
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Embark Technology (NASDAQ:EMBK) stock fell 5.5%, following on from Monday's hefty losses after the autonomous truck manufacturer announced it would lay off 70% of its employees and potentially wind down the business.
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