Meta, Dick's Sporting Goods and WW International rise premarket; Rivian falls

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Tuesday, March 7th. Please refresh for updates.

• Meta Platforms (NASDAQ: META) stock rose 1.8% after Bloomberg reported that the Facebook owner is planning thousands more job cuts in an attempt to restore profitability, with an announcement due as early as this week.

• Dick's Sporting Goods (NYSE: DKS) stock rose 5.9% after the retailer reported stronger than expected sales during the holiday quarter as customers stayed loyal even with higher prices.

• WW International (NASDAQ: WW) stock rose 17.5% after the company, also known as WeighWatchers, announced plans to acquire Sequence, a subscription telehealth platform.

• Rivian Automotive (NASDAQ: RIVN) stock fell 5.5% after the electric vehicle manufacturer unveiled plans to sell bonds worth $1.3 billion.

• Joby Aviation (NYSE: JOBY) stock fell 4.2% after Deutsche Bank downgraded its stance on the aviation company to 'sell' from 'hold', saying the risks to electric aircraft stock are being overlooked.

• Embark Technology (NASDAQ: EMBK) stock fell 5.5%, following on from Monday's hefty losses after the autonomous truck manufacturer announced it would lay off 70% of its employees and potentially wind down the business.

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