Uber, Under Armour, Coty, Microsoft rise premarket; Chipotle falls

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Wednesday, February 8th. Please refresh for updates.

• Chipotle (NYSE:CMG) stock fell 4.2% after the burrito chain missed expectations at both the top and bottom lines as high prices deterred customers.

• Microsoft (NASDAQ:MSFT) stock rose 1.1% after the tech giant said it was revamping its Bing search engine and Edge Web browser with artificial intelligence.

• Coty (NYSE:COTY) stock rose 1.5% after the cosmetics giant raised its full-year profit forecast, betting on price hikes and resilient demand for its fragrances and cosmetics.

• Under Armour (NYSE:UA) stock soared 6.4% after the athletics apparel retailer raised its annual profit forecast as deep discounts on the company's goods helped attract shoppers.

• Uber (NYSE:UBER) stock rose 8.2% after the ride-hailing firm posted strong earnings in the final quarter of 2022 and set its sights on delivering a profit this year.

• New York Times (NYSE:NYT) stock rose 2.6% after the newspaper reported better-than-expected quarterly sales and said it will buy back shares worth $250 million as more people subscribed, offsetting sluggish ad sales.

• CVS Health (NYSE:CVS) stock rose 1.9% after the pharmacy chain beat quarterly profit estimates, as a decline in hospitalizations from COVID-19 helped bring down medical costs at its Aetna insurance business. It also confirmed Tuesday’s reports of a $10.6 billion takeover of Oak Street Health (NYSE:OSH).
• Illumina (NASDAQ:ILMN) stock fell 2.9% after the biotech missed expectations with its latest update, swinging to a net loss in 2022 as full-year revenue stagnated.