Shell, Dick's Sporting Goods Rise Premarket; Apple Edges Lower
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Tuesday, March 8th. Please refresh for updates.
Shell (NYSE:SHEL) rose 0.8% after the oil major apologized for buying a heavily discounted consignment of Russian oil last week and announced it was withdrawing from involvement in the country.
Moderna (NASDAQ:MRNA) stock fell 1.8% after the drugmaker signaled that it may begin to enforce patents of its COVID-19 vaccine in wealthier countries.
Apple (NASDAQ:AAPL) stock fell 0.5% with the tech giant hosting its spring product launch event, with a 5G budget-friendly iPhone and a new iPad, topping expectations.
Dick’s Sporting Goods (NYSE:DKS) stock rose 6.5% after the sporting goods retailer beat expectations with its important holiday quarter, offered an upbeat 2022 forecast, and approved a 11% increase to its quarterly dividend.
Tesla (NASDAQ:TSLA) stock fell 0.7% after the electric vehicle maker sold 56,515 China-made vehicles in February, only slightly lower than the 59,845 sold in January despite supply side difficulties.
Caterpillar (NYSE:CAT) stock rose 1.8% after Jefferies upgraded its stance on the heavy equipment manufacturer to ‘buy’ from ‘hold’, saying the stock could be used as a hedge against commodity inflation.
Alphabet (NASDAQ:GOOGL) stock fell 0.6% after its Google unit said it would buy cybersecurity firm Mandiant for $5.4 billion in cash, aiming to boost the tech giant’s cloud computing business.
Dell Technologies (NYSE:DELL) stock rose 2.7% after Evercore ISI upgraded its stance on the computer manufacturer to ‘outperform’ from ‘in line’, expecting a solid year and 20% potential upside.
Estee Lauder (NYSE:EL) stock rose 0.04% after the makeup company said it had decided to suspend all commercial activities in Russia, including closing all its stores in the country.
Dollar Tree (NASDAQ:DLTR) stock rose 1.5% after the discount store operator announced Paul Hilal, founder of activist investment firm Mantle Ridge, has joined its board.
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