A pedestrian walks by a Bed Bath and Beyond store in San Francisco, California.
Justin Sullivan | Getty Images
Check out the companies making headlines before the bell.
— Verizon shares slipped 1.51% after the company posted mixed results for the 2022 fourth quarter. While earnings met analyst predictions, forward earnings fell short of a Refinitiv consensus estimate. .
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— The meme stock gained 5.78%, building on its dramatic start to the year, . Year to date, Bed Bath & Beyond shares are up 17.1%.
— The ride-sharing stock gained 3.4% following an upgrade from KeyBanc, which Lyft from cost-saving measures including layoffs and a stabilization in demand.
— Shares of the drug maker ticked higher by less than 1% premarket after the company reported mixed quarterly financial results. Johnson & Johnson beat profit estimates by 10 cents per share, excluding items, according to Refinitiv. It also missed revenue estimates. Its full-year outlook for earnings was slightly higher than estimates while its revenue forecast was about in line with estimates.
— Shares rose 1.3% after JPMorgan upgraded Blackstone to overweight from neutral, saying the investment management firm is a “best in class” business that’s set for a soft landing.
— The athleisure retailer fell 2.07% after Bernstein , warning that a reset is coming for the apparel stock and noting the company is facing an inflection point in its growth.
— Lockheed Martin shares gained 1.52% after the company posted latest quarterly results. The defense company’s revenue came in at $18.99 billion, topping a Refinitiv forecast of $18.27 billion. Lockheed’s earnings per share also topped expectations.
— The chip stock fell more than 2% in premarket after to market perform from outperform. The Wall Street firm said the downgrade is due to the sliding computer and new parts demand in the inflationary environment.
— CNBC’s Alex Harring, Yun Li, Tanaya Macheel and Sarah Min contributed reporting