By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Tuesday, May 3rd. Please refresh for updates.
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Chegg (NYSE:CHGG) stock slumped 40% after the online education services company offered up weak full-year guidance despite exceeding quarterly earnings expectations.
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Restaurant Brands (NYSE:QSR) stock rose 1.6% after the Burger King parent beat quarterly revenue estimates, boosted by higher prices and increased traffic at its restaurant chains.
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Pfizer (NYSE:PFE) stock fell 1.4% after the pharma giant said Paxlovid, its antiviral drug for treating Covid-19, will generate less in sales this year than expected.
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Avis (NASDAQ:CAR) stock rose 7.1% after the car rental company smashed first-quarter earnings expectations, helped by a recovery in U.S. travel demand and near-record used-car prices.
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Devon Energy (NYSE:DVN) stock rose 2.6% after the oil and gas exploration company announced a dividend as well as an increase in its share buyback plans.
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Paramount Global (NASDAQ:PARA) stock fell 3% after the media company posted disappointing first-quarter revenue, amid increasing video streaming competition and weak ad sales growth.
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Clorox (NYSE:CLX) stock fell 1.9% after the manufacturer of household products cut its full-year earnings outlook, citing stubbornly rising costs.
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Dupont (NYSE:DD) stock fell 5.2% after the industrial materials maker posted a fall in first-quarter profit, hurt by rising raw material and logistic costs.
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Marathon Petroleum (NYSE:MPC) stock rose 0.9% after the refiner posted a first-quarter profit, compared with a loss a year earlier, as demand for fuel and refined products recovered to near pre-pandemic levels.
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BP (NYSE:BP) ADRs rose 5.2% after the energy giant announced plans to increase share buybacks even after it recorded its biggest quarterly loss after writing down $24 billion to exit its Russia businesses.
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HSBC (NYSE:HSBC) ADRs rose 1.9% after the U.K.-based lender’s largest shareholder, Chinese insurance giant Ping An, urged a break-up of the bank, including potentially spinning off the Asian business, in a bid to improve returns.