Bumble, Tapestry, Nio fall premarket; ZipRecruiter, Rivian rise
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Thursday, November 10th. Please refresh for updates.
Bumble (NASDAQ: BMBL ) stock fell over 14% after the online dating company forecast fourth-quarter revenue below Wall Street expectations, as it struggles with product launch delays.
ZipRecruiter (NYSE: ZIP ) stock rose over 14% after the online jobs marketplace provider lifted its annual guidance after strong third-quarter earnings , helped by a tight labor market.
Tapestry (NYSE: TPR ) stock fell 1.3% after the luxury fashion holding company cut its annual sales and profit forecasts, blaming persistent COVID-19 restrictions in China and an expected slowdown in demand in North America.
Rivian Automotive (NASDAQ: RIVN ) stock rose 7.6% after the electric vehicle manufacturer reported a smaller-than-expected loss and a higher number of preorders, reaffirming its full-year production outlook.
Dutch Bros (NYSE: BROS ) stock rose 2.6% after the coffee chain reported strong quarterly sales growth, powered by new store openings.
Nio (NYSE: NIO ) ADRs fell 1.6% after the Chinese electric car manufacturer reported a sharp rise in its net loss in the third quarter as a sharp rise in input costs hurt margin.
Roblox (NYSE: RBLX ) stock rose 0.9%, rebounding to a degree after slumping 21% the previous session. JPMorgan downgraded its stance on the video game producer to ‘neutral’ from ‘overweight’, saying it could struggle to maintain booking growth in the medium term.
WeWork (NYSE: WE ) stock fell 2.9% after the office space provider reported a wider-than-expected quarterly loss, and announced plans to depart around 40 underperforming locations this month.
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