By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Wednesday, November 24th. Please refresh for updates.
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Gap (NYSE:GPS) stock slumped 20% after the clothing chain cut its full-year forecast, expecting an up to $650 million hit to revenue following factory closures in Vietnam, a region that accounts for 30% of the company’s production.
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Nordstrom (NYSE:JWN) stock fell 25% after the retailer warned of product shortages at its stores heading into the holiday season, while reporting a jump in costs in the quarter as it spent more on staffing its stores amid labor shortages.
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HP (NYSE:HPQ) stock rose 4.9% after the computer hardware company followed up its strong fourth-quarter results with a robust outlook for the year.
- Dell Technologies (NYSE:DELL) stock rose 1.8% after the computer hardware company delivered record third quarter results on the back of strong PC sales growth.
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Deere (NYSE:DE) stock rose 3.1% after the heavy equipment manufacturer reported a hefty rise in fourth-quarter profit on the back of solid demand for its tractors and combines.
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CVS Health (NYSE:CVS) stock fell 0.6%, Walmart (NYSE:WMT) stock fell 0.3% and Walgreens Boots Alliance (NASDAQ:WBA) stock fell 0.4% the day after a federal jury in Cleveland, Ohio, ruled that their pharmacies were complicit in the opioid epidemic.
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Autodesk (NASDAQ:ADSK) stock dropped 13% after the software company narrowed its profit and revenue guidance and lowered its billings forecast.
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Chevron (NYSE:CVX) stock rose 0.2% after RBC upgraded its stance on the oil major to ‘outperform’ from ‘market perform’, saying it has a relatively stable portfolio compared with its industry peers.
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Pure Storage (NYSE:PSTG) stock rose 9.1% after the tech company beat quarterly expectations and also issued a better-than-expected current-quarter revenue outlook.