CarMax, Cisco, Starbucks Fall Premarket; CrowdStrike Rises
2022.04.12 15:21
By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Tuesday, April 12th. Please refresh for updates.
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CarMax (NYSE:KMX) stock fell 3.3% after the used car giant reported disappointing quarterly earnings, with expenses higher than expected on the back of higher provisions for bad debt.
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Etsy (NASDAQ:ETSY) stock rose 0.2% despite thousands of sellers on the e-commerce platform starting their planned strike to protest a new fee hike, to 6.5% per order from 5%, by the company.
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Meta Platforms (NASDAQ:FB) stock rose 0.4% after CEO Mark Zuckerberg said the social media giant will test selling goods within its virtual reality platform Horizon Worlds.
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Deutsche Bank (DE:DBKGn) stock fell 1.3% after an undisclosed investor sold a stake of more than 5% in the German lender a few months into the bank’s turnaround strategies to lift profitability and rebuild investor confidence.
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Crowdstrike (NASDAQ:CRWD) stock rose 4.3% after Goldman Sachs upgraded its stance on the cybersecurity company to ‘buy’ from ‘neutral’, saying the company is “well positioned in the sweet spot of demand.”
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Starbucks (NASDAQ:SBUX) stock fell 0.8% after Citigroup downgraded its stance on the coffee chain to ‘neutral’ from ‘buy’, saying investors should wait for more clarity on the CEO’s plan to drum up business.
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Cisco (NASDAQ:CSCO) stock fell 2.6% after Citigroup downgraded the technology company to ‘sell’ from ‘neutral’, with the investment bank seeing rivals gaining market share.
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Waste Management (NYSE:WM) stock fell 1.3% after BMO Capital Markets downgraded its stance on the environmental services company to ‘market perform’ from ‘outperform’, saying it has little upside in the months ahead as downside risks increase.
