By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Thursday, August 19th. Please refresh for updates.
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Robinhood (NASDAQ:HOOD) stock fell 9.9% after the owner of the popular trading app warned that the trading frenzy among small-time investors, mainly in crypto-currencies, that boosted its second-quarter revenue would slow down in the coming months.
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Kohls (NYSE:KSS) stock rose 2.2% after the department store chain beat quarterly sales and raised its forecast for the year, as Americans returned to brick-and-mortar stores.
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Macy’s (NYSE:M) stock rose 4.9% after the retailer raised its full-year revenue forecast, as vaccinations encourage more U.S. shoppers to return to its department stores to buy apparel and footwear.
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Nvidia (NASDAQ:NVDA) stock rose 1.3% after the chip maker forecast third-quarter revenue above expectations on Wednesday as it benefits from a boom in demand, although it noted talks with regulators to clear its acquisition of British semiconductor Arm are taking longer than expected.
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Cisco (NASDAQ:CSCO) stock fell 1.6% after the technology conglomerate’s first-quarter profit forecast fell short of estimates, warning that supply chain issues would continue to drive up component costs and delivery backlogs.
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Wells Fargo (NYSE:WFC) stock fell 2.2% after the banking giant announced it was reversing its decision to close personal lines of credit for its customers.
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Tapestry (NYSE:TPR) stock fell 0.4% despite the company beating quarterly sales estimates, as the reopening of economies boosted demand for designer apparel and purses.
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Estee Lauder (NYSE:EL) stock rose 0.9% after the cosmetics maker beat market estimates for quarterly sales, as Americans started emerging from their home following the easing of coronavirus restrictions.
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Amazon (NASDAQ:AMZN) stock fell 0.6% after the Wall Street Journal reported that the online retail giant plans to open several large department stores in the U.S., hoping to sell more goods, like clothing and electronics.
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Oatly (NASDAQ:OTLY) ADRs rose 1.6% after RBC upgraded its investment stance on the Swedish food company to ‘outperform’ from ‘sector perform’, saying the recent pullback means the stock offers value.
- BJs Wholesale Club (NYSE:BJ)stock rose 0.9% after the warehouse retailer beat estimates for its latest quarter, helped by unexpected growth in same-store sales.