By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Thursday, July 9th. Please refresh for updates.
Bed Bath & Beyond (NASDAQ:BBBY) stock fell 7% after the home goods retailer announced plans late Wednesday to close stores at 200 locations over the next two years.
Walgreens Boots Alliance (NASDAQ:WBA) stock fell 4.2% after taking a $700 million to $750 million hit to sales, due to the Covid-19 outbreak, almost entirely at its U.K. operations, where it also recorded $2 billion of impairments. The drugstore also decided to suspend its buyback share program.
United Airlines (NASDAQ:UAL) stock fell 0.9% after the airline warned Wednesday about 36,000 front-line employees, more than a third of its staff, about potential furloughs as the coronavirus pandemic continues to hit travel demand.
Costco (NASDAQ:COST) stock rose 1.8% after the retailer reported its June sales rose 11% from a year ago, helped by e-commerce sales jumping 86%.
Tesla (NASDAQ:TSLA) stock rose 0.6% after CEO Elon Musk said the company is very close to achieving level fully autonomous driving technology, meaning the cars will require no driver input and might not even have steering wheels or brake pedals.
Cisco (NASDAQ:CSCO) stock rose 1.3% after Morgan Stanley (NYSE:MS) upgraded its investment stance on the network gear maker's stock to "overweight" from “equal weight”, with a $54 price target.
Eldorado Resorts (NASDAQ:ERI) stock rose 2.6% after gaining approval from Nevada regulators for its $7.3 billion merger with Caesars Entertainment (NASDAQ:CZR), which gained 0.3%.
Bilibili (NASDAQ:BILI) stock rose 4.5% after Reuters reported that the Chinese video site is considering a secondary listing in Hong Kong two years after going public in the U.S.
Plug Power (NASDAQ:PLUG) stock fell 2.6% after Barclays (LON:BARC) downgraded its stance to “equal weight” from “overweight”, saying the stock’s 130% gain since early June means the risk-reward basis has now shifted.