Apple, Chewy Rise Premarket; Lululemon Falls By

© Reuters.

By Peter Nurse — Stocks in focus in premarket trade on Wednesday, March 31st. Please refresh for updates.

  • Chewy (NYSE:) stock rose 12% after the online pet supplier reported its first quarterly profit in the final quarter of last year, as pet ownership grew and online sales responded during the pandemic.

  • Lululemon Athletica (NASDAQ:) stock fell 1.9% after the athletic apparel retailer warned that a resurgence of Covid-19 cases could cause additional store closures and disruptions to its supply chain, even though it forecast strong first-quarter revenue on sustained demand for home-exercise clothing.

  • Blackberry (TSX:) stock fell 4.7% after the tech company missed estimates for fourth-quarter revenue, with sales of its QNX car software under pressure due to a slow recovery in the U.S. auto industry amid a global semiconductor shortage and pandemic-related weakness.

  • Apple (NASDAQ:) stock rose 1.6% after UBS upgraded its investment stance on the iPhone maker to ‘buy’ from ‘neutral’, seeing stronger average sales prices. 

  • PVH (NYSE:) stock fell 0.4% after the clothing company missed expectations with its fourth-quarter revenue.

  • Pfizer (NYSE:) stock rose 0.7% after the drugmaker announced its Covid-19 vaccine had demonstrated 100% efficacy in a phase three clinical trial testing its shot in children aged 12 to 15.

  • (NASDAQ:) ADR rose 0.6% after the Chinese e-commerce firm said it had sold JD Cloud and artificial intelligence business to its financial technology unit for a combined valuation of 15.7 billion yuan ($2.40 billion).

  • Walgreens Boots Alliance (NASDAQ:) stock rose 2.5% after the pharmacy chain reported better than expected quarterly earnings and raised its full-year guidance despite weaker sales of cold products. 

  • Tilray (NASDAQ:)stock rose 3.5%, Canopy Growth (NASDAQ:) stock rose 1.5%, Aphria (NASDAQ:) stock rose 3.7% and Aurora Cannabis (NYSE:) stock climbed 1.1% after the state of New York passed a bill to become the 15th state to legalize the recreational use of cannabis.

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