Bed Bath & Beyond, Deere, Coinbase Fall Premarket; Foot Locker Rises
2022.08.19 15:25
By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Friday, August 19th. Please refresh for updates.
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Bed Bath & Beyond (NASDAQ:BBBY) stock fell 43% after billionaire investor Ryan Cohen unloaded his entire stake in the troubled home goods retailer, booking an estimated profit of around $60 million on a five-month investment, and disappointing those who had expected him to agitate for change in the struggling company.
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Deere (NYSE:DE) stock fell 4.9% after the world’s largest heavy equipment maker missed quarterly earnings estimates as it continues to grapple with parts shortages stemming from global supply chain issues.
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Coinbase (NASDAQ:COIN) stock fell 9.2% with the crypto exchange suffering the repercussions of one of the worst days in weeks for the cryptocurrency universe.
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Applied Materials (NASDAQ:AMAT) stock rose 0.6% after the semiconductor manufacturer beat expectations for its fiscal third quarter, while also offering up healthy fourth quarter revenue guidance.
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Foot Locker (NYSE:FL) stock soared 21% after strong quarterly numbers as well as appointing former Ulta Beauty head Mary Dillon as its chief executive officer, effective Sept. 1.
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Bill.com (NYSE:BILL) stock rose 16.2% after the fintech company stated that it expected to be profitable on an adjusted basis in the new fiscal year while appointing a new chief product officer and chief operating officer.
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Madison Square Garden Entertainment (NYSE:MSGE) stock rose 5.2% after the company announced it’s exploring a spinoff of its live entertainment business, including its iconic New York City arena.
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HP (NYSE:HPQ) stock fell 4% after Wells Fargo downgraded its stance on the tech company to ‘underweight’ from ‘equal-weight’, saying PC sales will come under pressure.
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Credit Suisse (NYSE:CS) stock fell 1.8% after Bloomberg News reported that the bank’s top shareholder Harris Associates has asked the lender to fix its investment bank unit or seek other options.
