Lululemon, Broadcom, PagerDuty Rise Premarket; Bed Bath & Beyond Falls

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Lululemon, Broadcom, PagerDuty Rise Premarket; Bed Bath & Beyond Falls

By Peter Nurse -- Stocks in focus in premarket trade on Friday, September 2nd. Please refresh for updates.

  • Lululemon Athletica (NASDAQ: LULU ) stock rose 9.7% after the athletic clothing retailer raised its full-year outlook, the latest sign that consumer demand among high-income shoppers remains strong even as inflation soars.

  • Broadcom (NASDAQ: AVGO ) stock rose 2% after the semiconductor company forecast strong fourth quarter revenue, expecting resilient demand from businesses going digital even with a likely chip industry slowdown.

  • PagerDuty (NYSE: PD ) stock rose 7.4% after the cloud computing company lifted its guidance following quarterly results that topped estimates, driven by growing corporate cloud adoption.

  • Bed Bath & Beyond (NASDAQ: BBBY ) stock fell 5.1% with investors still deserting the troubled retailer even after it announced on Wednesday plans to revive the business, including layoffs and store closures.

  • Nvidia (NASDAQ: NVDA ) stock fell 0.4% after Daiwa downgraded its stance on the artificial intelligence software company to ‘neutral’ from ‘buy’, saying its valuation is still too high.

  • Starbucks (NASDAQ: SBUX ) stock rose 0.5% after the coffee chain announced that Laxman Narasimhan will take over as chief executive in October, joining from Reckitt Benckiser (LON: PSN ).

  • Rocket Lab USA (NASDAQ: RKLB ) stock rose 4% after the aerospace company successfully test-fired a reused Rutherford first-stage engine for the first time.
  • Shell (NYSE: SHEL ) ADRs rose 1.8% after Reuters reported that CEO Ben van Beurden is preparing to step down next year from the energy giant, after nearly a decade in that job.

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