© Reuters.
By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Friday, May 27th. Please refresh for updates.
-
Gap (NYSE:) stock fell over 19% after the clothing retailer slashed its annual results forecast, blaming poor fashion choices at its Old Navy line and weak demand in the face of decades-high inflation. Morgan Stanley downgraded its stance on Gap to ‘underweight’.
-
Ulta Beauty (NASDAQ:) stock rose 7.6% after the chain of beauty stores beat quarterly expectations, with sales jumping 21% in the first quarter, and lifted its full-year guidance. Jefferies upgraded its stance to ‘buy’, saying these earnings are the “all clear” for a recovery.
- Big Lots (NYSE:) stock fell almost 18% after the discount retailer reported a hefty miss on sales and a surprise loss in the three months through April.
-
Dell Technologies (NYSE:) stock soared 9% after the tech giant beat expectations for the ninth straight quarter after companies invested heavily in its desktops and notebooks to support hybrid work.
-
American Eagle Outfitters (NYSE:) stock fell over 12% after the retailer fell short of profit expectations because of rising prices through the supply chain.
-
Costco (NASDAQ:) stock fell 1.7% after the wholesale retailer reported a fall in gross margins in the quarter, hit by soaring freight and labor costs.
-
Workday (NASDAQ:) stock fell 9.3% after the human resources software company a quarterly loss more than double a year earlier and provided disappointing full-year guidance.
-
Marvell (NASDAQ:) stock rose 3.1% after the chipmaker solid earnings results and gave guidance slightly above Wall Street expectations.
-
Citigroup (NYSE:) stock fell 0.6% after Credit Suisse downgraded its stance on the U.S. bank to ‘neutral’ from ‘outperform’, saying it has limited upside.
-
Coinbase (NASDAQ:) stock fell 1.5% as the cryptocurrency exchange struggled in line with losses in the digital currencies as , the world’s second most valuable cryptocurrency continued its slide Friday.
Be the first to comment