By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Thursday, March 31st. Please refresh for updates.
Walgreens Boots Alliance (NASDAQ:WBA) stock fell 2.4% after the pharmacy chain posted disappointing second quarter revenue, hit by a decline in sales at its AllianceRx business.
Advanced Micro Devices (NASDAQ:AMD) stock fell 1.9% after Barclays downgraded its stance on the semiconductor to ‘equal weight’ from ‘overweight’, saying it’s time to move to the sidelines after gains of around 10% this month.
HP (NYSE:HPQ) stock fell 4.2% and Dell Technologies (NYSE:DELL) stock dropped 4.3% after Morgan Stanley downgraded both computer manufacturers to ‘equal weight’ from ‘overweight’, citing worries over PC demand.
Exxon Mobil (NYSE:XOM) stock fell 2.3% and Chevron (NYSE:CVX) stock dropped 1.8% after the sharp fall in oil prices on reports that the US plans a release of up to 180 million barrels from its Strategic Petroleum Reserve, the largest in the near-50-year history of the reserve.
CVS Health (NYSE:CVS) stock fell 0.6% after the drugstore chain agreed to pay the state of Florida nearly $500 million to resolve claims and avert a trial over its roles in fueling an opioid epidemic.
Baidu (NASDAQ:BIDU) stock fell 3% after the SEC added the search engine to its tally of US-traded Chinese stocks that could be delisted over problems with financial audits.
Expensify (NASDAQ:EXFY) stock slumped 9.3% after the expense management software company reported disappointing quarterly profit as well as a weaker-than-expected revenue forecast for the current quarter.
- Novavax (NASDAQ:NVAX) stock rose 1.3% after the drugmaker asked EU regulators to clear its COVID-19 vaccine for use in teenagers.