By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Tuesday, February 8th. Please refresh for updates.
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Peloton (NASDAQ:PTON) stock fell 1.6% after the exercise bike manufacturer said its CEO John Foley will step down and be replaced by former Netflix (NASDAQ:NFLX) and Spotify (NYSE:SPOT) executive Barry McCarthy in an attempt to boost sales. The company also severely cut its full-year revenue outlook and said it will cut 2,800 corporate jobs. The company is expected to report a further widening of its quarterly loss afer the close.
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Pfizer (NYSE:PFE) stock fell 4.3% after its full-year sales forecast for its Covid-19 vaccine and antiviral pills fell short of Wall Street estimates, even with the drugs giant raising its forecast to about $32 billion.
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Meta Platforms (NASDAQ:FB) stock fell 1.8% after billionaire investor Peter Thiel decided to step down from the board of the Facebook owner.
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Coty (NYSE:COTY) stock rose 3.2% after the beauty company forecast fiscal 2022 sales growth towards the higher end of its prior range, helped by a rebound in sales in the United States as the return of social gatherings boosted demand for makeup.
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Nvidia (NASDAQ:NVDA) stock fell 1.6% after the chipmaker dropped its attempted purchase of Arm from Softbank Group (T:9984) citing regulatory hurdles; it paid the Japanese company $1.25 billion for its pains.
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Harley-Davidson (NYSE:HOG) stock rose 6.9% after the manufacturer of iconic motorcycles reported a 40% jump in fourth-quarter revenue, helped by higher demand for its more expensive bikes.
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Novavax (NASDAQ:NVAX) stock fell 8.9% after Reuters reported that the drugmaker has delivered only a small fraction of the 2 billion Covid-19 vaccine doses it had planned to send around the world.
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Take-Two (NASDAQ:TTWO) stock fell 2.4% after the video game company reported disappointing third-quarter revenues.
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Chegg (NYSE:CHGG) stock rose 7.8% after the education technology company’s quarterly sales and earnings topped expectations, with its Chegg Services subscribers increasing year-over-year.
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BP (LON:BP) (NYSE:BP) ADRs rose 0.3% after the U.K. energy giant benefited from record-high oil and gas prices to post its best profit in eight years, and added $1 billion to its share buyback program.
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Simon Property Group (NYSE:SPG) stock fell 3.3% after the real estate company missed its sales numbers in the fourth quarter, with the mall owner's revenue still not at pre-Covid levels.