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Palantir, Lordstown Motors Rise Premarket; eBay Falls

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By Peter Nurse

Investing.com — Stocks in focus in premarket trade on Thursday, August 12th. Please refresh for updates.

Palantir Technologies (NYSE:PLTR) stock rose 9.5% after the data-analytics company reported a 49% jump in second-quarter revenue year-over-year and also lifted its full-year free cash flow outlook. 

Lordstown Motors (NASDAQ:RIDE) stock rose 5.7% after the electric vehicle maker’s top management revealed plans to enter contract manufacturing as well as leasing out its gigantic plant in Ohio.

Baidu (NASDAQ:BIDU) stock fell 1.9% after the internet search giant offered up a disappointing outlook for the current quarter, weighed by the resurgent pandemic outbreak in China.

eBay (NASDAQ:EBAY) stock fell 1.7% after the e-commerce platform’s April-June revenue figures and outlook for the ongoing quarter both disappointed.

Virgin Galactic (NYSE:SPCE) stock rose 0.1% after Wednesday’s sharp losses. However, Credit Suisse reinstated coverage of the space travel company with a ‘neutral’ rating, saying the stock will struggle to rise until its flight schedule is ramped up.

Micron (NASDAQ:MU) stock fell 2.7% after Morgan Stanley downgraded its stance on the tech company to ‘equal weight’ from ‘overweight’, saying the memory chip market is due for a slowdown.

Wendy’s (NASDAQ:WEN) stock rose 1% after Evercore ISI upgraded its stance on the restaurant chain to ‘outperform’ from ‘in line’, saying the company is poised to grow in the future.

DoorDash (NYSE:DASH) stock rose 2% following a report that the food delivery company has held talks to buy grocery delivery firm Instacart for a likely price of between $40 billion and $50 billion.

Clover Health (NASDAQ:CLOV) stock soared 16% after the healthcare company reported a doubling of revenue and memberships in the second quarter.

Utz Brands (NYSE:UTZ)stock fell 4.5% after the snack food manufacturer missed quarterly earnings estimates, expecting costs to remain elevated for the remainder of the year.

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