In this photo illustration the Disney+ logo seen displayed on a smartphone screen.
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Check out the companies making headlines in premarket trading.
21 hours ago
Bed Bath & Beyond — The retailer advanced 16% premarket, continuing to rally after a handful of meme stocks surged Wednesday. The stock surged almost 69% in Wednesday’s session.
American Airlines — The airline gained 5% after lifting its fourth quarter guidance, citing strong demand and high fares. American’s revenue forecast rose as much as 17% over 2019, up from a previous 11% to 13% increase. Other airlines gained in sympathy, with United, Delta and Southwest rising between 1.5% and 2%.
Logitech — The maker of mice and keyboards plummeted 16% after it missed earnings expectations for the recent quarter and slashed its sales outlook.
Netflix — The streaming giant gained 1.4% after an upgrade by Jeffries to buy from hold. The Wall Street firm, which also boosted its price target to $385 from $310, said the launch of its advertising-based offering and crackdown on password stealing will drive revenue and EBTIDA above estimates.
Anheuser-Busch InBev – Shares lost 2.5% premarket after UBS cut the brewer to sell, citing weakness in China and consumers reaching for spirits instead of beer.
Roku — The streaming stock slid 3.8% after Jefferies downgraded to an underperform rating, saying that consensus estimates are failing to account for a slowing advertising market.
Cleveland-Cliffs — The steel producer gained 2.6% following an upgrade by Morgan Stanley to overweight from an equal-weight rating, saying that shares can rally 35%.
KB Home — Shares dipped 3.4% after the homebuilder missed estimates for the recent quarter on the top and bottom lines. KB Home fourth-quarter earnings of $2.47 a share on $1.94 billion in revenue lagged analysts’ estimates of $2.86 per share on revenue of $1.98 billion.
Spotify – Shares of the audio streaming company fell by about 2% premarket after a downgrade to hold from buy at Jefferies, which said it expects Spotify’s growth margins to fall below Wall Street expectations in the next two years.
Cinemark – Shares gained 1.9% following an upgrade by analysts at JPMorgan to an overweight rating. The bank said that the movie chain looks attractive after its recent decline.
— CNBC’s Carmen Reinicke, Michelle Fox, Jesse Pound, Tanaya Macheel and Alex Harring contributed reporting
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