By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Friday, August 27th. Please refresh for updates.
-
Peloton (NASDAQ:PTON) stock fell 7.6% after the fitness equipment maker warned of a hit to its near-term profitability, citing the decision to cut prices of its exercise bike while it grapples with higher input costs and freight increases. It's also being subpoenaed by the Justice Department over injuries (one of them fatal) reportedly sustained by users of its treadmills.
-
Gap (NYSE:GPS) stock rose 7.2% following the retail chain’s decision to lift its full-year net sales and profit forecasts, seeing a surge in demand as the public returns to socializing with the end of mobility restrictions.
-
HP (NYSE:HPQ) stock fell 5.8% and Dell Technologies (NYSE:DELL) stock dropped 1.9% following the computer manufacturers offering disappointing guidance, plagued by higher input costs and lengthening order backlogs due to component shortages.
-
Workday (NASDAQ:WDAY) stock rose 7.4% with the enterprise cloud applications company beating expectations for second-quarter revenue, increasing its guidance for the full year.
-
Marvell (NASDAQ:MRVL) stock fell 4.8% with the chip maker’s outlook disappointing amid a global chip shortage, even after quarterly earnings beat expectations.
-
AutoZone (NYSE:AZO) stock fell 0.3%, O’Reilly Automotive (NASDAQ:ORLY) stock fell 0.7% and Advance Auto Parts (NYSE:AAP) stock dropped 0.9% after Morgan Stanley (NYSE:MS) downgraded its investment recommendation on the auto parts retailers to ‘equal weight’ from ‘overweight’, seeing limited upside from these levels.
-
Ollies Bargain Outlet (NASDAQ:OLLI) stock slumped 14% and Big Lots (NYSE:BIG) stock fell 12% as the two discount retailers disappointed with quarterly earnings, struggling with supply chain issues and inflation pressures.
-
Support.com (NASDAQ:SPRT) stock soared 77%, continuing Thursday’s surge, with the technical support company appearing to be the new darling of the retail investor willing to take on short sellers.