By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Thursday, February 11th. Please refresh for updates.
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Uber (NYSE:UBER) stock fell 1.9% despite the company posting a narrower loss as its ride-hail and delivery businesses rebounded slightly from pandemic lows. It added it was well on track to reach its goal of achieving an adjusted profit by year-end. However, expectations were red hot and the stock had gained around 6% during the previous session.
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PepsiCo (NASDAQ:PEP) stock rose 0.3% after the soft drinks giant said it expects organic revenue to grow in 2021, trusting that consumers will return to pre-pandemic lifestyles as economies reopen.
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Pinterest (NYSE:PINS) stock rose 6% after the Financial Times reported the tech giant Microsoft looked at buying the image sharing company. Such a deal would become Microsoft’s largest ever purchase.
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Microsoft (NASDAQ:MSFT) stock rose 0.4% after the tech giant teamed up with German carmaker Volkswagen (DE:VOWG_p), using its cloud computing services to help streamline software development efforts for self-driving cars.
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AstraZeneca (NASDAQ:AZN) ADR rose 1.1% after the U.K.-based pharmaceutical company, and Covid-19 vaccine developer, beat quarterly product sales estimates and forecast 2021 revenue growth as the end of the pandemic's acute phase allows demand for its other drugs, notably its cancer drug portfolio, to rebound.
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Mastercard (NYSE:MA) stock rose 2.3% after the payments giant stated that it could start accepting crypto payments this year.
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Kraft Heinz (NASDAQ:KHC) stock rose 1.8% after the food producer agreed to sell its Planters nuts business to Hormel Foods (NYSE:HRL), up 1.1%, for $3.35 billion.
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Zillow (NASDAQ:ZG) stock rose 12% after the online real estate company posted strong fourth quarter earnings, helped by the strong U.S. housing market. It also announced plans to buy Chicago-based ShowingTime for $500 million.
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Best Buy (NYSE:BBY) stock rose 0.6% after the Wall Street Journal reported that the retailer was planning to lay off some workers at its stores as it transitioned more towards online shopping.
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iRobot (NASDAQ:IRBT) stock rose 7.7% after the tech company reported strong fourth-quarter earnings and offered strong guidance for 2021, helped by demand for its autonomous cleaning devices.
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Tilray (NASDAQ:TLRY) stock soared 9%, following on from gains of nearly 40% Wednesday, with the Canadian cannabis company the focus of the same Reddit group that propelled GameStop’s stock much higher.