Walmart, Home Depot and Credit Suisse fall premarket; General Mills rises
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Tuesday, February 21st. Please refresh for updates.
Walmart (NYSE:WMT) stock fell 3.9% after the retail giant forecast full-year earnings below estimates, saying it was cautious about the economic outlook for the coming year.
Home Depot (NYSE:HD) stock fell 4% after the home improvement chain posted a surprise drop in fourth-quarter comparable sales and forecast annual profit below expectations on Tuesday as it grapples with higher costs and a tighter labor market.
General Mills (NYSE:GIS) stock rose 1.5% after the packaged food manufacturer raised its annual organic sales and profit forecast, seeing strong demand for its popular snack bars and breakfast cereals.
Meta Platforms (NASDAQ:META) stock rose 1.8% after the social media giant announced a new paid subscription service on its Facebook and Instagram platforms.
Visa (NYSE:V) stock fell 1.1% and Mastercard (NYSE:MA) stock fell 0.8% after Sky News reported that the payments giants face a major class action lawsuit on behalf of British businesses.
Vir Biotechnology (NASDAQ:VIR) stock rose 12.3% after Goldman Sachs upgraded its stance on the biotech to ‘buy’ from ‘neutral’, saying its shares can more than double post COVID.
Credit Suisse (NYSE:CS) stock fell 5.6% following a report that Switzerland's financial watchdog is reviewing remarks from chairman Axel Lehmann about bank outflows.
HSBC (NYSE:HSBC) ADRs rose 4.3% after the U.K. bank reported a sharp jump in its fourth-quarter profit on Tuesday and announced a special dividend on the sale of its Canadian business.
AutoNation (NYSE:AN) stock fell 0.9% after JPMorgan downgraded its stance on the car dealer to 'underweight' from 'neutral', saying the stock is now overvalued.
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