Palantir, Lordstown Motors Rise Premarket; eBay Falls By Investing.com

By Peter Nurse

Investing.com — Stocks in focus in premarket trade on Thursday, August 12th. Please refresh for updates.

• Palantir Technologies (NYSE:) stock rose 9.5% after the data-analytics company reported a 49% jump in second-quarter revenue year-over-year and also lifted its full-year free cash flow outlook. 

• Lordstown Motors (NASDAQ:) stock rose 5.7% after the electric vehicle maker’s top management revealed plans to enter contract manufacturing as well as leasing out its gigantic plant in Ohio.

• Baidu (NASDAQ:) stock fell 1.9% after the internet search giant offered up a disappointing outlook for the current quarter, weighed by the resurgent pandemic outbreak in China.

• eBay (NASDAQ:) stock fell 1.7% after the e-commerce platform’s April-June revenue figures and outlook for the ongoing quarter both disappointed.

• Virgin Galactic (NYSE:) stock rose 0.1% after Wednesday’s sharp losses. However, Credit Suisse reinstated coverage of the space travel company with a ‘neutral’ rating, saying the stock will struggle to rise until its flight schedule is ramped up.

• Micron (NASDAQ:) stock fell 2.7% after Morgan Stanley downgraded its stance on the tech company to ‘equal weight’ from ‘overweight’, saying the memory chip market is due for a slowdown.

• Wendy’s (NASDAQ:) stock rose 1% after Evercore ISI upgraded its stance on the restaurant chain to ‘outperform’ from ‘in line’, saying the company is poised to grow in the future.

• DoorDash (NYSE:) stock rose 2% following a report that the food delivery company has held talks to buy grocery delivery firm Instacart for a likely price of between $40 billion and $50 billion.

• Clover Health (NASDAQ:) stock soared 16% after the healthcare company reported a doubling of revenue and memberships in the second quarter.

• Utz Brands (NYSE:)stock fell 4.5% after the snack food manufacturer missed quarterly earnings estimates, expecting costs to remain elevated for the remainder of the year.