Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

Walgreens, AMD, and Baidu Fall Premarket; Novavax Rises

Published 31/03/2022, 11:30 pm
© Reuters.
CVX
-
DELL
-
BARC
-
BIDU
-
XOM
-
MS
-
CVS
-
HPQ
-
AMD
-
WBA
-
IXIC
-
NVAX
-
EXFY
-

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Thursday, March 31st. Please refresh for updates.

  • Walgreens Boots Alliance (NASDAQ:WBA) stock fell 2.4% after the pharmacy chain posted disappointing second quarter revenue, hit by a decline in sales at its AllianceRx business.

  • Advanced Micro Devices (NASDAQ:AMD) stock fell 1.9% after Barclays downgraded its stance on the semiconductor to ‘equal weight’ from ‘overweight’, saying it’s time to move to the sidelines after gains of around 10% this month.

  • HP (NYSE:HPQ) stock fell 4.2% and Dell Technologies (NYSE:DELL) stock dropped 4.3% after Morgan Stanley downgraded both computer manufacturers to ‘equal weight’ from ‘overweight’, citing worries over PC demand.

  • Exxon Mobil (NYSE:XOM) stock fell 2.3% and Chevron (NYSE:CVX) stock dropped 1.8% after the sharp fall in oil prices on reports that the US plans a release of up to 180 million barrels from its Strategic Petroleum Reserve, the largest in the near-50-year history of the reserve.

  • CVS Health (NYSE:CVS) stock fell 0.6% after the drugstore chain agreed to pay the state of Florida nearly $500 million to resolve claims and avert a trial over its roles in fueling an opioid epidemic.

  • Baidu (NASDAQ:BIDU) stock fell 3% after the SEC added the search engine to its tally of US-traded Chinese stocks that could be delisted over problems with financial audits.

  • Expensify (NASDAQ:EXFY) stock slumped 9.3% after the expense management software company reported disappointing quarterly profit as well as a weaker-than-expected revenue forecast for the current quarter.

  • Novavax (NASDAQ:NVAX) stock rose 1.3% after the drugmaker asked EU regulators to clear its COVID-19 vaccine for use in teenagers.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.