By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Wednesday, March 31st. Please refresh for updates.
Chewy (NYSE:CHWY) stock rose 12% after the online pet supplier reported its first quarterly profit in the final quarter of last year, as pet ownership grew and online sales responded during the pandemic.
Lululemon Athletica (NASDAQ:LULU) stock fell 1.9% after the athletic apparel retailer warned that a resurgence of Covid-19 cases could cause additional store closures and disruptions to its supply chain, even though it forecast strong first-quarter revenue on sustained demand for home-exercise clothing.
Blackberry (TSX:BB) stock fell 4.7% after the tech company missed estimates for fourth-quarter revenue, with sales of its QNX car software under pressure due to a slow recovery in the U.S. auto industry amid a global semiconductor shortage and pandemic-related weakness.
Apple (NASDAQ:AAPL) stock rose 1.6% after UBS upgraded its investment stance on the iPhone maker to ‘buy’ from ‘neutral’, seeing stronger average sales prices.
PVH (NYSE:PVH) stock fell 0.4% after the clothing company missed expectations with its fourth-quarter revenue.
Pfizer (NYSE:PFE) stock rose 0.7% after the drugmaker announced its Covid-19 vaccine had demonstrated 100% efficacy in a phase three clinical trial testing its shot in children aged 12 to 15.
JD.com (NASDAQ:JD) ADR rose 0.6% after the Chinese e-commerce firm said it had sold JD Cloud and artificial intelligence business to its financial technology unit for a combined valuation of 15.7 billion yuan ($2.40 billion).
Walgreens Boots Alliance (NASDAQ:WBA) stock rose 2.5% after the pharmacy chain reported better than expected quarterly earnings and raised its full-year guidance despite weaker sales of cold products.
Tilray (NASDAQ:TLRY)stock rose 3.5%, Canopy Growth (NASDAQ:CGC) stock rose 1.5%, Aphria (NASDAQ:APHA) stock rose 3.7% and Aurora Cannabis (NYSE:ACB) stock climbed 1.1% after the state of New York passed a bill to become the 15th state to legalize the recreational use of cannabis.