Bed Bath & Beyond, Verizon, Lululemon and more

A pedestrian walks past a Bed Bath and Beyond store in San Francisco, California.

Justin Sullivan | Getty Images

Find out which companies are making headlines before the bell.

Verizon – Verizon shares fell 1.51% after the company reported mixed results for the fourth quarter of 2022. While earnings met analysts’ forecasts, forward earnings fell below the consensus estimate from Refinitiv. .

Bed bath and beyond – The meme stock gained 5.78%, building on its spectacular start to the year, even as the retailer warns of potential bankruptcy. Year-to-date, shares of Bed Bath & Beyond are up 17.1%.

Lyft — Rideshare inventory rose 3.4% following a KeyBanc upgrade, which Lyft is expected to feel the positive effects of cost-cutting measures including layoffs and a stabilization in demand.

Johnson & Johnson – Shares of the drugmaker rose less than 1% premarket after the company reported mixed quarterly financial results. Johnson & Johnson beat earnings estimates by 10 cents a share, excluding items, according to Refinitiv. He also missed the revenue estimates. Its full-year earnings outlook was slightly above estimates, while its revenue forecast was roughly in line with estimates.

black stone – Shares rose 1.3% after JPMorgan cut Blackstone from neutral to overweight, saying the investment management firm is a “best in class” business that is poised for a soft landing.

lululemon – The athleisure retailer fell 2.07% after Bernstein downgraded the stock, warning that a reset is coming for the clothing stock and noting that the company is facing an inflection point in its growth .

Lockheed Martin — Lockheed Martin shares gained 1.52% after the company released the latest quarterly results. The defense company’s revenue was $18.99 billion, beating Refinitiv’s forecast of $18.27 billion. Lockheed’s earnings per share also beat expectations.

AMD – The chip stock fell more than 2% pre-market after Bernstein downgraded the chipmaker to market performance from outperform. The Wall Street firm said the downgrade is due to lower computer and demand for new coins in the inflationary environment.

– CNBC’s Alex Harring, Yun Li, Tanaya Macheel and Sarah Min contributed reporting

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