HP, Levi Strauss, Roblox Rise Premarket; JD.com, Wayfair Drop

Investing.com

Thu, Apr 7, 2022, 3:51 AM2 min read

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By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Thursday, April 7th. Please refresh for updates.

Levi Strauss (NYSE:LEVI) stock rose 2% after the denim retailer reported better than expected first-quarter earnings, selling more of its higher priced jeans and T-shirts.

HP (NYSE:HPQ) stock soared over 12% after Warren Buffett’s Berkshire Hathaway (NYSE:BRKa), up 0.2%, disclosed it had bought a $4.2 billion stake in the information technology company.

Meta Platforms (NASDAQ:FB) stock rose 0.7% following reports the owner of Facebook is working on a plan to introduce virtual coins, tokens and lending services to its apps.

Euronav (NYSE:EURN) stock rose 10% after the Belgian oil tanker group announced plans to merge with smaller Oslo-listed rival Frontline (NYSE:FRO), down 5.3%, in an all-stock transaction valued at $4.2 billion, a move aimed at cutting costs.

Ford (NYSE:F) stock fell 1.2% after Barclays downgraded its stance on the auto giant to ‘equal weight’ from ‘overweight’, saying the company will struggle as chip shortages continue.

JD.com (NASDAQ:JD) ADRs fell 1.4% after the billionaire founder of the Chinese e-commerce giant, Richard Liu, stepped down from the CEO role as Beijing continues to tighten regulation on its domestic technology sector.

Roblox (NYSE:RBLX) stock rose 2% after Citigroup started coverage of the online game creator with a ‘buy’ rating, saying it’s now trading at an attractive price after a rough start to the year.

Wayfair (NYSE:W) stock fell 3.4% after Wells Fargo downgraded its stance to ‘underweight’ from ‘equal weight’, saying inflation and uncertainty in the housing market will hurt the online furniture retailer.

Pfizer (NYSE:PFE) stock rose 0.2% after the drugmaker announced plans to buy privately-held ReViral for as much as $525 million, to gain access to some experimental drugs.

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