By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Wednesday, September 23rd. Please refresh for updates.
- Nike (NYSE:NKE) stock soared 12% after the sports footwear retailer reported very strong numbers in the first quarter after the close Tuesday. Flat sales after a drop of 38% was particularly impressive, with the brand's digital sales surging 82%, although margins were flattered by a lack of spending on marketing around major sports events.
- Deutsche Bank (DE:DBKGn) has upgraded its investment stance to buy as a result.
- Tesla (NASDAQ:TSLA) stock fell 5.5% as announcements at the electric car maker’s “Battery Day” of new, more powerful batteries and the potential of a $25,000, fully-autonomous car "in about three years time" failed to impress investors.
- Shopify (NYSE:SHOP) stock fell 1.1% after the e-commerce giant announced that two "rogue members" of its support team engaged in a scheme to illegitimately obtain customer transactional records.
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Stitch Fix (NASDAQ:SFIX) stock slumped 15% after the online personal styling service reported steep losses for the fiscal fourth quarter despite adding clients and growing sales.
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Lululemon Athletica (NASDAQ:LULU) stock rose 2.5% after the athletic apparel retailer is set to resume its stock buyback program that had been halted because of Covid-19.
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KB Home (NYSE:KBH) stock fell 3.2% despite the homebuildier reporting strong quarterly orders. However, expectations were running very strong following evidence from competitors that the pandemic has accelerated demand for new homes across the U.S.
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General Mills (NYSE:GIS) stock rose 1.9% after beating quarterly sales estimates and raising its dividend, as people stuck at home due to the pandemic stocked up on its baking products and cereals.
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Peloton (NASDAQ:PTON) stock rose 0.2% after Amazon (NASDAQ:AMZN), down 0.7%, denied it had any formal connection to rival exercise company Echelon Fitness so-called Prime Bike. Investors had anticipated Amazon’s entry into the growing home exercise market.