By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Wednesday, March 3rd. Please refresh for updates.
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Lyft (NASDAQ:LYFT) stock rose 4.5% after the ride hailing company raised its outlook, citing a return to stronger rideshare demand sooner than expected. The company said the week ending Feb. 28 was the company’s best week since March 2020.
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Nordstrom (NYSE:JWN) stock fell 2.5% after the retailer announced that shipping delays meant some of its merchandise did not reach the shelves on time, while total revenue fell almost 20% in the fourth quarter from a year earlier.
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Wendy’s (NASDAQ:WEN) stock fell 3.3% after the restaurant chain missed quarterly estimates for profit and revenue. Global comparable sales rose 4.7%, but this was below consensus estimates of 5.7%, due primarily to international weakness.
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Dollar Tree (NASDAQ:DLTR) stock fell 3% after the discount retailer disappointed with its comparable-store sales, rising 4.9% in the quarter, short of the consensus 5.5% growth estimate.
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Fubotv (NYSE:FUBO) stock slumped 5.4% after the TV streaming service posted a much larger-than-expected loss in the fourth quarter despite adding more subscribers than forecast.
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Exxon Mobil (NYSE:XOM) stock rose 0.9% after the oil major outlined plans to grow its dividend and cut debt through 2025 as it reins in spending.
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Rocket Companies (NYSE:RKT) stock fell 5.2% and UWM Holdings (NYSE:UWMC) stock rose 23% with these mortgage lenders seeing volatile trading as they have gained popularity on internet message boards as short-squeeze candidates.
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Las Vegas Sands (NYSE:LVS) stock rose 2.9% after the casino and resort company agreed to sell its Las Vegas real property and operations, including The Venetian Resort, to Apollo Global Management (NYSE:APO) for $6.25 billion. Apollo, which is also in talks to buy assets from the troubled supply chain finance specialist Greensill Capital, was down 0.9%
- Zynga (NASDAQ:ZNGA)stock rose 2% after the mobile-game maker said it had acquired San Francisco-based game studio Echtra Games, helping it develop a portfolio of new titles that users can play across platforms.
- Volkswagen (DE:VOWG_p) (OTC:VWAPY) ADR will be in focus later Wednesday after investment bank UBS sharply lifted it price target on the German automaker's preference stock, citing its progress on the shift to electric mobility.