By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Tuesday, March 9th. Please refresh for updates.
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Zoom Video Communications (NASDAQ:ZM) stock rose 3.8% after a regulatory filing showed that founder Eric Yuan transferred around 40% of his stake, worth about $6 billion, to unspecified beneficiaries last week.
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GameStop (NYSE:GME) stock rose 9.8%, continuing to surge a day after the electronic retailer announced that Chewy (NYSE:CHWY) co-founder Ryan Cohen, a major GameStop shareholder and board member, will lead the company's plans to revamp its online sales.
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Stitch Fix (NASDAQ:SFIX) stock fell over 22% after the personal styling service cut its revenue forecast for this fiscal year, now expecting sales to grow between 18% and 20% in 2021. That’s down from previous guidance of 20% to 25% growth.
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T-Mobile US (NASDAQ:TMUS) stock rose 0.6% after the wireless network operator told subscribers it could share their online activity with advertisers unless they opt out. The move appears geared at filling a space that Google (NASDAQ:GOOGL) recently vacated by saying it would no longer target ads based on a user's browsing history.
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Dick’s Sporting Goods (NYSE:DKS) stock fell 8.7% despite the retailer reporting a strong quarterly comparable sales rise and a 16% dividend hike. The company’s stock is up over 100% over the last year.
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Stellantis (NYSE:STLA) stock rose 1.5% after the giant carmaker scrapped plans to launch the Peugeot (OTC:PUGOY) brand in the United States and will focus instead on the RAM pickup trucks, high-margin Jeeps and its other familiar brands - Dodge, Chrysler and Alfa Romeo.
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Invitae (NYSE:NVTA) stock rose 11% after influential investor Cathie Wood, founder of Ark Investment Management, said the company is “probably one of the most important companies in the genomic revolution.”
- Wood's ARK Innovation ETF (NYSE:ARKK), which has lost over 30% from its peak as money has rotated out of growth and into value stocks, rebounded 5.6%.
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Moneygram (NASDAQ:MGI) stock fell 6.6% upon the news that the money transfer services company will end its partnership with blockchain payment firm Ripple.
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Del Taco Restaurants (NASDAQ:TACO) stock rose 6.9% after the fast-food chain reported better-than-expected fourth-quarter results, registering net income of $7.5 million, compared with a net loss of $114.1 million in the year-ago quarter.
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Peloton (NASDAQ:PTON) stock rose 5.1% after the exercise equipment manufacturer announced plans to expand into Australia, its first toehold in the Asia-Pacific region.