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Micron, Lululemon and BioNTech Rise Premarket; Five Below Falls

Investing.com
·2 min read

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Wednesday, March 30th. Please refresh for updates.

Micron Technology (NASDAQ:MU) stock rose 3.4% after the company gave a robust forecast for the ongoing quarter, suggesting demand for its memory chips from data centers remains strong.

Lululemon Athletica (NASDAQ:LULU) stock rose 6.8% after the athletic apparel retailer forecast full-year profit and revenue above estimates as demand has held up even as people return to offices, adding it plans selective price increases.

BioNTech (NASDAQ:BNTX) stock rose 6.7% after the drugmaker beat fourth quarter estimates, helped by surging cash flows from its Covid-19 vaccines, while announcing a special dividend and a likely share buyback of up to $1.5 billion.

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Five Below (NASDAQ:FIVE) stock fell 4.2% after the discount store’s quarterly revenue and comparable sales came in below expectations.

RH (NYSE:RH) stock fell 3.8% after the home furnishings chain disappointed with its revenues for the latest quarter, while announcing an upcoming three-for-one stock split.

Chewy (NYSE:CHWY) stock slumped over 13% after the pet supplies retailer reported a wider than expected quarterly loss and also issued weak revenue guidance for the first quarter and the full year.

Pearson (NYSE:PSO) ADRs fell 9.9% after the education group rejected a third takeover offer from Apollo to the tune of 6.7 billion pounds ($8.8 billion), prompting the U.S. investment company to walk away.

PayPal (NASDAQ:PYPL) stock rose 1.4% after Goldman Sachs initiated coverage on the online payments provider with a ‘buy’ rating, after falling 35% this year.

Royal Caribbean (NYSE:RCL) stock fell 0.3% and Carnival (NYSE:CCL) stock fell 1.4% after Wells Fargo started coverage of the cruise liners with respective ‘overweight’ and ‘underweight’ ratings.

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