Walgreens, Intel, US Bancorp and more
Check out the companies making headlines before the bell:
Walgreens (WBA) – The pharmacy chain operator’s stock added 1.5% in the premarket after Deutsche Bank upgraded the stock to buy from hold. Following a recent meeting with management, the firm said it is increasingly confident in Walgreens’ strategy to transition to a healthcare services company.
Intel (INTC) – The chip maker’s stock was rated underweight in summarized coverage at JPMorgan Chase following a restriction period, compared with its most recent rating of overweight. JPMorgan said Intel will participate in an overall industry rebound, but at a slower pace due to competitive pressures. Intel fell 2% in premarket action.
U.S. Bancorp (USB) – Warren Buffett’s Berkshire Hathaway has sold more than 91 million shares of US Bancorp since the start of the year, according to a regulatory filing. Berkshire now owns just over 53 million shares, a 3.6% stake.
Wynn Resorts (WYNN), Las Vegas Sands (LVS) – Shares of the casino operators rose after China eased Covid-19 restrictions. Wynn rose 3.4% in the premarket while Las Vegas Sands jumped 3.6%.
Doximity (DOCS) – Doximity surged 21.1% in premarket trading after the online platform for medical professionals reported better-than-expected quarterly results and announced a new share repurchase program.
Duolingo (DUOL) – Duolingo shares fell 3.2% in the premarket after reporting revenue for its most recent quarter fell slightly short of analyst forecasts. The provider of online language classes also reported a smaller-than-expected quarterly loss and increased its full-year revenue outlook.
LegalZoom (LZ) – LegalZoom rallied 15.4% in premarket action following better-than-expected quarterly results from the online provider of legal documents and advice. LegalZoom reported a quarterly loss that was smaller than analysts had anticipated and raised its full-year revenue forecast.
Beazer Homes (BZH) – Beazer rose 1.6% in premarket trading after its quarterly earnings and revenue came in above Wall Street consensus. Beazer benefited from gains in both home prices and profit margins.
CORRECTION: This article has been updated to correct JPMorgan Chase’s prior rating on Intel.