Vir Biotechnology, Walmart, Home Depot, and more stocks making premarket moves

February 21, 2023

minute read

In premarket trading, here are the biggest moves:

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Walmart

Shares of Walmart fell roughly 4% before the bell after Walmart shared a cautious outlook for 2014. Consumers are trading down and purchasing fewer discretionary items than last year. Despite beating holiday quarter sales and bottom-line expectations, the retail giant's shares still rose.

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Home Depot

After Home Depot reported weaker-than-anticipated sales for the fourth quarter, the retail stock fell 4% in premarket trade. Home Depot reported $35.83 billion in sales and $3.30 in earnings per share. Refinitiv's survey of analysts revealed that they anticipated earnings of $3.28 per share on $35.97 billion in revenue. Home Depot also stated that it anticipated flat sales for the upcoming fiscal year.

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Vir Biotechnology

As a result of Goldman Sachs' upgrade to buy from neutral, the immunology company rose nearly 11%. In the year ahead, Vir is expected to release data on its flu vaccine, according to Trade Algo analysts.

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AutoNation

JPMorgan downgraded the dealer from neutral to underweight, resulting in a 2.1% drop. A pullback in consumer demand for vehicles is making the company appear overvalued, according to analyst Rajat Gupta.

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HSBC Holdings

Earnings for the fourth quarter of the bank exceeded expectations, leading to a gain of approximately 4%. In its report, HSBC noted that revenues and operating expenses were both higher than expected.

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Medtronic

After it reported adjusted earnings per share of $1.30, overtaking StreetAccount's expectations of $1.27, the healthcare technology company rose 2.3%. Sales exceeded expectations as well.

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General Mills

Support for consumer demand lifted General Mills' full-year forecast before the bell, citing strong sales of Cheerios.

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Generac Holdings

Following Truist's downgrade to hold from buy, shares slid more than 2%. Wall Street analysts cited Generac's 2023 financials as being at risk from high-interest rates and higher product prices.