By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Wednesday, February 23rd. Please refresh for updates.
Lowe’s (NYSE:LOW) stock rose 3.1% after the home improvement chain raised its full-year sales forecast, with demand for its tools and building materials remaining resilient.
Palo Alto Networks (NASDAQ:PANW) stock rose 7.8% as demand for cybersecurity solutions in an increasingly hybrid work environment brought a higher guidance from the company after second quarter earnings.
Virgin Galactic (NYSE:SPCE) stock rose 4.8% after the space company reported a smaller-than-expected loss in its fourth quarter, adding that its cash position remains strong.
TJX (NYSE:TJX) stock fell 8.2% after the owner of TJ Maxx department store missed estimates for quarterly sales, hurt by temporary store closures due to the Covid-19 pandemic.
Caesars (NASDAQ:CZR) stock rose 4.8% after the casino operator reported a sharp jump in revenue compared with a year ago, as well as a narrower loss as customers started returning.
Moderna (NASDAQ:MRNA) stock rose 1.4% after Morgan Stanley said the drugmaker’s flu vaccine is likely to be another winner, boosting the company’s stock.
Range Resources (NYSE:RRC) stock rose 5.3% after the energy company reported strong fourth-quarter earnings, boosted by record high crude and natural gas prices.
Marathon Oil (NYSE:MRO) stock rose 1.3% after Piper Sandler upgraded its investment stance on the company to “overweight” from “neutral”, saying the strong run for oil production stocks has more upside
Quest Diagnostics (NYSE:DGX) fell 2.1% after UBS downgraded its stance on the health care company to “neutral” from “buy”, saying rising costs and uncertainty over the future path of Covid means it will be tricky for it to meet profitability targets.