Five Below, Novavax, Nio Fall Premarket; Tesla, Signet Rise
2022.06.09 15:25
By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Thursday, June 9th. Please refresh for updates.
-
Five Below (NASDAQ:FIVE) stock fell 8% after the discount retailer reported weak first quarter sales and cut its full-year guidance, citing higher operating costs.
-
Tesla (NASDAQ:TSLA) stock rose 3.1% after UBS upgraded its investment stance on the electric car manufacturer to ‘buy’ from ‘hold’, saying the recent drop of over 30% creates an attractive entry point for a high growth business.
-
Novavax (NASDAQ:NVAX) stock fell 5.7%, handing back Wednesday’s gains on the news that the Food and Drug Administration’s authorization of the drugmaker’s COVID shots could be delayed to review changes in the manufacturing process.
-
Alibaba (NYSE:BABA) ADRs fell 4.5% after China’s securities regulator said it had not conducted any assessment regarding a revival of affiliate Ant Group’s initial public offering.
-
Take-Two (NASDAQ:TTWO) stock rose 2.7% after J.P. Morgan initiated coverage of the video game company at ‘overweight’, saying the stock looks cheap and could rally 33%.
-
Target (NYSE:TGT) stock rose 0.8% after the big-box retailer raised its quarterly dividend by 20% despite warning of weaker margins as it reduced inventories earlier this week.
-
Nio (NYSE:NIO) ADRs fell 5.8% after the Chinese electric-vehicle maker posted a wider loss in the first quarter than during the same period a year ago, hurt by the recent COVID-related shutdowns.
- Signet Jewelers (NYSE:SIG) soared 8.5% after the retailer posted healthy quarterly profit and revenue, issued an upbeat full-year forecast, and expanded its share repurchase authorization by $500 million.
