Oracle, Broadcom Rise Premarket; Tesla, Chewy, Peloton Fall

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Oracle, Broadcom Rise Premarket; Tesla, Chewy, Peloton Fall
Credit: © Reuters.

By Peter Nurse 

Investing.com -- Stocks in focus in premarket trade on Friday, December 10th. Please refresh for updates.

  • Lululemon Athletica (NASDAQ: LULU ) stock fell 1.7% after the athleisurewear retailer warned that the spread of new coronavirus variants could lead to a slowdown in demand for its casual clothing, even as it raised its full-year revenue and profit forecasts.

  • Oracle (NYSE: ORCL ) stock soared 12% after the company software provider posted strong second-quarter results on the back of higher IT spending as well announcing an increase of $10 billion in its share buyback program.

  • Southwest Airlines (NYSE: LUV ) stock fell 4% after Goldman Sachs downgraded its investment stance on the airline to ‘sell’ from ‘neutral’, citing inflation concerns.

  • Chewy (NYSE: CHWY ) stock slumped 9.4%, on course for a 16-month low, after the pet retailer reported a bigger net loss for the most recent quarter, citing supply chain disruptions, labor shortages and higher inflation. New customer additions also disappointed.

  • Broadcom (NASDAQ: AVGO ) stock rose 6.3% after the semiconductor manufacturer forecast strong first-quarter revenue and announced a $10 billion share buyback plan, expecting sustained demand from cloud computing companies.

  • Costco (NASDAQ: COST ) stock rose 1.5% after the wholesaler beat estimates for quarterly results, although it, too, warned of difficulties caused by the global supply chain crunch.

  • Tesla (NASDAQ: TSLA ) stock fell 1.3% after CEO Elon Musk sold another block of shares on Thursday, meaning he has ditched nearly $12 billion worth of shares over the past month. Musk also tweeted he’s "thinking of" leaving his jobs and becoming an influencer.

  • Peloton (NASDAQ: PTON ) stock fell 4% after Credit Suisse downgraded the exercise equipment manufacturer to ‘neutral’ from ‘outperform’, pointing to a number of headwinds, including a return to out-of-home fitness and a shift in consumer spending.

  • American Outdoor Brands (NASDAQ: SWBI ) stock slumped 20% as the manufacturer of outdoor sports products disappointed with its quarterly results, with the company citing a shift in customer purchase timing into the prior quarter.

 

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