Bed Bath & Beyond, Verizon, Lululemon and more

Bed Bath & Beyond, Verizon, Lululemon and more

Take a look at the businesses making headlines earlier than the bell.

Verizon — Verizon shares slipped 1.51% after the corporate posted combined outcomes for the 2022 fourth quarter. Whereas earnings met analyst predictions, ahead earnings fell wanting a Refinitiv consensus estimate. .

Bed Bath & Past — The meme inventory gained 5.78%, constructing on its dramatic begin to the yr, even because the retailer warns of a possible chapter. 12 months up to now, Bed Bath & Past shares are up 17.1%.

Lyft — The ride-sharing inventory gained 3.4% following an improve from KeyBanc, which Lyft ought to really feel constructive impacts from cost-saving measures together with layoffs and a stabilization in demand.

Johnson & Johnson — Shares of the drug maker ticked greater by lower than 1% premarket after the corporate reported combined quarterly monetary outcomes. Johnson & Johnson beat revenue estimates by 10 cents per share, excluding objects, in keeping with Refinitiv. It additionally missed income estimates. Its full-year outlook for earnings was barely greater than estimates whereas its income forecast was about in step with estimates.

Blackstone — Shares rose 1.3% after JPMorgan upgraded Blackstone to obese from impartial, saying the funding administration agency is a “best in class” enterprise that is set for a smooth touchdown.

Lululemon — The athleisure retailer fell 2.07% after Bernstein downgraded the inventory, warning {that a} reset is coming for the attire inventory and noting the corporate is dealing with an inflection level in its progress.

Lockheed Martin — Lockheed Martin shares gained 1.52% after the corporate posted newest quarterly outcomes. The protection firm’s income got here in at $18.99 billion, topping a Refinitiv forecast of $18.27 billion. Lockheed’s earnings per share additionally topped expectations.

AMD — The chip inventory fell more than 2% in premarket after Bernstein downgraded the chipmaker to market carry out from outperform. The Wall Road agency mentioned the downgrade is as a result of sliding laptop and new components demand within the inflationary surroundings.

— CNBC’s Alex Harring, Yun Li, Tanaya Macheel and Sarah Min contributed reporting

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