By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Thursday, January 12th. Please refresh for updates.
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Walt Disney (NYSE:DIS) stock rose 1.9% after the entertainment giant named Mark Parker, the executive chairman of Nike (NYSE:NKE), its next chairman while opposing activist investor Nelson Peltz's attempt to join the board.
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Bed Bath & Beyond (NASDAQ:BBBY) stock soared 21.7%, continuing to rebound as this former meme favorite comes back into fashion despite weak quarterly results.
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Netflix (NASDAQ:NFLX) stock rose 1.3% after Jefferies upgraded its stance on the streaming giant to 'buy' from 'hold', saying it should offer investors a degree of safety as it cracks down on password sharing.
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KB Home (NYSE:KBH) stock fell 3% after the homebuilder posted disappointing fourth quarter earnings and revenue as its net orders plunged and the value of its backlog fell 25% against the same quarter last year.
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American Airlines (NASDAQ:AAL) stock rose 5% after the carrier expects its fourth quarter earnings to beat its previously issued guidance after strong demand late in the year.
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Cleveland-Cliffs (NYSE:CLF) stock rose 2.6% after Morgan Stanley upgraded the steel producer to 'overweight' from 'equal weight', saying the stock can jump 35%.
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Roku (NASDAQ:ROKU) stock fell 3.1% after Jefferies downgraded the video streaming device maker to 'underperform' from 'hold', saying its growth potential is likely to be tempered by a tough macro environment.
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Spotify (NYSE:SPOT) stock fell 1.9% after Jefferies downgraded the music streaming platform to 'hold' from 'buy', citing the possible impact of the looming recession.
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Boeing (NYSE:BA) stock rose 0.4% after Credit Suisse upgraded the aircraft manufacturer to 'neutral' from 'sell', citing the company's improved operational performance.
- Anheuser-Busch InBev (NYSE:BUD) ADRs fell 2.4% after UBS downgraded its stance on the brewing giant to 'sell' from 'neutral' as drinkers continue to pick spirits over beer.