Uber, Pfizer, Marriott rise premarket; Tesla, Chegg fall By

-- Stocks in focus in premarket trade on vt marketsTuesday, May 2nd. Please refresh for updates.

• (NYSE:) stock rose 0.9% after the pharma giant beat profit expectations as strong demand for new products helped offset declining sales of its COVID-19 products.

  

• Uber(NYSE:) stock rose 7.9% after the ride-hailing firm reported strong first-quarter and forecast quarterly core earnings above estimates after a surge in demand for travel and food delivery.

• Tesla(NASDAQ:) stock fell 0.3% after the electric car manufacturer raised prices in Canada, China, Japan, and the United States, its website showed on Monday, after having slashed prices on its top-selling vehicles since the start of the year.

• Restaurant Brands(NYSE:) stock rose 0.6% after the company beat expectations for quarterly , boosted by higher prices and increased traffic at its Burger King and Tim Hortons chains.

• Chegg(NYSE:) stock slumped over 41% after the educational services company issued disappointing second-quarter guidance, citing increasing competition from ChatGPT.

• Marriott International(NASDAQ:) stock rose 1.8% after the hotel operator raised its full-year profit forecast, citing pent-up demand for leisure and business travel.

• HSBC(NYSE:) ADRs rose 5.8% after the Asia-focused bank reported a tripling in profit in the , helping the lender pay its first quarterly dividend since 2019.

• BP(NYSE:) ADRs fell 5.1% after the slowed the pace of share buybacks, announcing it will repurchase $1.75 billion of shares before announcing second-quarter results, down by $1B from the prior period. Its first-quarter net income came in just under $5B, down from $6.25B a year earlier.

• Coinbase(NASDAQ:) stock fell 1.6% after Citigroup downgraded its stance on the cryptocurrency exchange to ‘neutral’ and ‘buy’, seeing a lot of regulatory uncertainty surrounding its story.

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