Nvidia, HP and Ford rise premarket; Big Lots falls

Investing.com -- Stocks in focus in premarket trade on Tuesday, May 30th. Please refresh for updates.

• Nvidia (NASDAQ:NVDA) stock rose 3.8%, with the chipmaker on course to join the $1 trillion club in terms of market capitalization for the first time, after last week it stunned investors with an impressive revenue forecast on the back of demand for AI.

• HP (NYSE:HPQ) stock rose 0.7% ahead of the personal computer and printer maker's second quarter earnings, due after the close, with investors keen to see the extent of a post-pandemic slide in PC demand.

• Ford (NYSE:F) stock rose 3.3% after Jefferies upgraded its stance on the auto giant to 'buy' from 'hold' following last week's investor event, saying its shares have more than 30% upside.

• Coherent (NYSE:COHR) stock rose 9.3% after the maker of industrial and fiber laser equipment announced that it expects to take $150 million to $200 million in charges related to its restructuring plan.

• Stratasys (NASDAQ:SSYS) stock rose 0.6% after the manufacturer of 3D printers and 3D production systems rejected the latest bid from rival Nano Dimension (NASDAQ:NNDM), down 1.6%. Stratasys entered into a definitive agreement to combine with Desktop Metal in an all-stock transaction earlier this month.

• Coinbase (NASDAQ:COIN) stock rose 4% after Atlantic Equities upgraded the cryptocurrency exchange to 'overweight' from 'neutral', saying its first quarter results confirmed the management's focus on returning the business to sustainable profitability.

• Big Lots (NYSE:BIG) stock fell 3%, continuing Friday’s selloff after the furniture retailer reported weaker-than-expected first quarter results and suspended its dividend.

• Boston Beer (NYSE:SAM) stock rose 1.4% after Roth/MKM upgraded its stance on the beverages company to 'buy' from 'neutral', noting areas of upside at Seltzer and Truly.