© Reuters.
By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Tuesday, November 22nd. Please refresh for updates.
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Best Buy (NYSE:) stock soared 7.3% after the retailer forecast a smaller-than-expected drop in annual sales ahead of the holiday season, as steep discounts help soften the blow to electronics demand.
- Dollar Tree (NASDAQ:) stock fell 2.4% after the discount store operator said it expects full-year profit to be in the lower half of its range, even as it raised its annual sales forecast.
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Zoom (NASDAQ:) stock slumped 9.1% after the video-conferencing platform lowered its annual revenue forecast, expecting a hit from declining online business.
- Abercrombie & Fitch (NYSE:) stock rose 15% after the clothing retailer forecast fourth-quarter sales above expectations, saying it was “cautiously optimistic” ahead of the holiday season.
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Urban Outfitters (NASDAQ:) stock rose 2.4% after the clothing retailer for its revenue in the third quarter, while CEO Richard Hayne said he was “encouraged” by current quarter sales ahead of the Black Friday weekend.
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Dell Technologies (NYSE:) stock fell 1.1% after the computer manufacturer provided a cautious outlook for current quarter sales, even after posting a 68% rise in quarterly operating profit on strong demand for servers and network equipment cushioned weak PC sales.
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Walgreens Boots (NASDAQ:) stock rose 1.7% after Cowen upgraded the pharmacy store chain to ‘outperform’ from ‘market perform’, saying it can rally more than 30% as it grows its health care business.
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Carvana (NYSE:) stock fell 1.1% after Cowen downgraded its stance on the used car retailer to ‘market perform’ from ‘outperform’, citing a “lengthened” path to profitability.
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Agilent (NYSE:) stock rose 4% after the consumer electronic company , helped by growth in its core business.
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