Etsy, Shopify, eBay Fall Premarket; Twitter, Albemarle Rise

Investing.com
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By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Thursday, May 5th. Please refresh for updates.

Etsy (NASDAQ:ETSY) stock slumped 12% after the arts-and-crafts marketplace failed to dispel concerns about sellers leaving the platform due to its hiking selling fees.

ConocoPhillips (NYSE:COP) stock rose 0.1% after the oil producer reported a higher first-quarter profit, helped by a surge in crude prices, and also increased its targeted 2022 returns to shareholders by an additional 25%, to a new total of $10 billion.

Twitter (NYSE:TWTR) stock rose 2.1% after Elon Musk secured over $7 billion in funding from a group of investors that includes Oracle co-founder Larry Ellison to fund his $44 billion takeover of the social media company.

Shopify (NYSE:SHOP) stock fell 14% after the Canadian e-commerce company announced plans to buy U.S.-based logistics firm Deliverr for $2.1 billion, to help mitigate supply chain snarls that have plagued the sector.

Booking Holdings (NASDAQ:BKNG) stock rose 9.6% after the online travel agency reported $27 billion in gross bookings for the first quarter, its highest quarterly amount, with the company’s management expecting a busy summer.

eBay (NASDAQ:EBAY) stock fell 7% after the online retailer provided a gloomy revenue forecast as growth slows in the e-commerce sector after two years of rapid expansion during the pandemic.

Albemarle (NYSE:ALB) stock rose 14% after the lithium producer raised its full-year forecasts on robust demand and higher prices for the metal used in electric-vehicle batteries.

Cognizant (NASDAQ:CTSH) stock fell 4% after the information technology company issued weaker-than-expected earnings and revenue guidance for the second quarter and the full year.

Shell (LON:RDSa) (NYSE:SHEL) ADRs rose 0.4% after the U.K.-based oil major reported a record first quarter profit of $9.13 billion, even after writing down $3.9 billion as a result of its decision to exit its operations in Russia.

Tupperware Brands (NYSE:TUP) stock fell 6.7% after Citigroup downgraded its stance on the food storage company to ‘neutral’ from ‘buy’, saying the company faces a troublesome macroenvironment.

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