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Fed's Michelle Bowman echoes higher-for-longer mantra for interest rates

CarMax, Getty Images and Coinbase rise premarket; Moderna falls

Investing.com
Updated ·1 min read

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Tuesday, April 11th. Please refresh for updates.

CarMax (NYSE:KMX) stock rose 7.3% after the used car retailer posted fourth quarter profit above estimates, helped by cost cuts implemented in the quarter that offset a hit from cooling demand.

Getty Images (NYSE:GETY) stock rose 7.3% after an activist investor called on the visual media company to look for a strategic buyer to improve shareholder value.

Moderna (NASDAQ:MRNA) stock fell 4.8% after the biotech company suffered a setback on its first flu vaccine.

Alibaba (NYSE:BABA) ADRs rose 0.4% after the Chinese e-commerce giant entered the race to roll out a new artificial-intelligence-powered chatbot similar to ChatGPT.

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Coinbase (NASDAQ:COIN) stock rose 2.0%, with the cryptocurrency exchange benefiting from bitcoin, the most popular digital currency, rallying above the $30,000 level for the first time since June 2022.

National CineMedia (NASDAQ:NCMI) stock rose 113% after AMC Entertainment (NYSE:AMC), up 2.8%, disclosed a stake in the theater-focused advertising company.

Hexo (NASDAQ:HEXO) stock fell 22.5% after Tilray (NASDAQ:TLRY), down 6.5%, said it would buy the Canadian cannabis company for $56 million.

Whirlpool (NYSE:WHR) stock rose 3% after Goldman Sachs upgraded the home appliance company to 'buy' from 'neutral', seeing a compelling entry point.

WW International (NASDAQ:WW) stock rose 25% after Goldman Sachs upgraded the slimming company, known as Weight Watchers, to 'buy' from 'neutral', citing the potential for new obesity medication.

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