Signet Jewelers, JPMorgan, Estée Lauder rise premarket; Herbalife falls By Investing.com

By Peter Nurse

Investing.com — Stocks in focus in premarket trade on Tuesday, December 6th. Please refresh for updates.

• AutoZone (NYSE:) stock rose 0.7% after the retailer of automotive parts a big earnings beat, with first quarter same-store sales growing by 5.6%.

• Signet Jewelers (NYSE:) stock rose 5.9% after the world’s largest retailer of diamond jewelry beat both top and bottom-line expectations in the and lifted its full-year guidance.

• Herbalife (NYSE:) stock fell 12.1% after the marketing company proposed an offering of $250 million convertible notes.

• Estée Lauder (NYSE:) stock rose 2.7% after Deutsche Bank upgraded its stance on the cosmetics company to ‘buy’ from ‘hold’, citing the expected China reopening.

• JPMorgan Chase (NYSE:) stock rose 0.9% after Morgan Stanley upgraded its stance on the investment bank all the way to ‘overweight’ from ‘underweight’, saying the lender is typically more resilient than its peers during a downturn.

• Meta Platforms (NASDAQ:) stock fell 0.5% after the Facebook owner threatened to remove news from its platform if the U.S. Congress passes a proposal aimed at making it easier for news organizations to negotiate collectively.

• PepsiCo (NASDAQ:) stock rose 0.1% after the Wall Street Journal reported that the soft drinks giant is set to lay off hundreds of people in North America in order to cut costs.

• GitLab (NASDAQ:) stock rose 16.6% after the development software firm a smaller quarterly loss than expected, while beating revenue expectations and offering up a strong full-year outlook.

• General Electric (NYSE:) stock rose 1.7% after Oppenheimer upgraded its stance on the industrial conglomerate to ‘outperform’ from ‘perform’, citing its debt reduction plan.

• Sumo Logic (NASDAQ:) stock rose 9.8% after the big data firm beat Wall Street’s expectations with its third-quarter and offered an upbeat forecast for the fourth quarter and full year.