Signet Jewelers, JPMorgan, Estée Lauder rise premarket; Herbalife falls

Investing.com
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By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Tuesday, December 6th. Please refresh for updates.

AutoZone (NYSE:AZO) stock rose 0.7% after the retailer of automotive parts reported a big earnings beat, with first quarter same-store sales growing by 5.6%.

Signet Jewelers (NYSE:SIG) stock rose 5.9% after the world’s largest retailer of diamond jewelry beat both top and bottom-line expectations in the third quarter and lifted its full-year guidance.

Herbalife (NYSE:HLF) stock fell 12.1% after the marketing company proposed an offering of $250 million convertible notes.

Estée Lauder (NYSE:EL) stock rose 2.7% after Deutsche Bank upgraded its stance on the cosmetics company to ‘buy’ from ‘hold’, citing the expected China reopening.

JPMorgan Chase (NYSE:JPM) stock rose 0.9% after Morgan Stanley upgraded its stance on the investment bank all the way to ‘overweight’ from ‘underweight’, saying the lender is typically more resilient than its peers during a downturn.

Meta Platforms (NASDAQ:META) stock fell 0.5% after the Facebook owner threatened to remove news from its platform if the U.S. Congress passes a proposal aimed at making it easier for news organizations to negotiate collectively.

PepsiCo (NASDAQ:PEP) stock rose 0.1% after the Wall Street Journal reported that the soft drinks giant is set to lay off hundreds of people in North America in order to cut costs.

GitLab (NASDAQ:GTLB) stock rose 16.6% after the development software firm reported a smaller quarterly loss than expected, while beating revenue expectations and offering up a strong full-year outlook.

General Electric (NYSE:GE) stock rose 1.7% after Oppenheimer upgraded its stance on the industrial conglomerate to ‘outperform’ from ‘perform’, citing its debt reduction plan.

Sumo Logic (NASDAQ:SUMO) stock rose 9.8% after the big data firm beat Wall Street’s expectations with its third-quarter results and offered an upbeat forecast for the fourth quarter and full year.

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