By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Monday, March 7th. Please refresh for updates.
Bed Bath & Beyond (NASDAQ:BBBY) soared 91.78% after GameStop Chairman Ryan Cohen revealed he had a nearly 10% stake in the retailer and was advocating for change to reverse market share losses.
Occidental Petroleum (NYSE:OXY) stock rose 5.8% following reports Berkshire Hathaway is adding the oil company to its holdings while activist investor Carl Icahn exits as a shareholder.
Whiting Petroleum (NYSE:WLL) stock rose 2.8% and Oasis Petroleum (NASDAQ:OAS) stock rose 1.74% after the Wall Street Journal reported the shale producers were talking about a merger in an all-stock deal.
Philip Morris (NYSE:PM) stock fell 1.7% after J.P. Morgan downgraded its investment stance on the cigarette giant to ‘neutral’ from ‘overweight’, saying Russia and Ukraine are key markets.
Citigroup (NYSE:C) stock fell 2.5% after Jefferies downgraded the U.S. bank to ‘hold’ from ‘buy’, saying the lender is unlikely to meet its new financial targets.
Boeing (NYSE:BA) stock fell 0.5% after the Wall Street Journal reported that the plane-maker has suspended parts of its business in Russia.
Uber (NYSE:UBER) stock rose 2.3% after the ride-hailing firm raised its current quarter guidance, citing a “significant” improvement in February’s demand for mobility.
- Visa (NYSE:V) stock fell 1.6% and Mastercard (NYSE:MA) stock fell 1.7% after both credit card giants announced over the weekend that they were suspending operations in Russia.