Gap, Ross Stores, Texas Pacific rise premarket; Intuit and Reddit fall
US stock
futures
traded in a muted fashion Friday, at the end of a generally positive week.
Here are some of the biggest
premarket
US stock movers today:
-
Gap
(NYSE:
GAP
) stock rose 18% after the fashion retailer raised its annual sales forecast and said the holiday season was off to a “strong start”. -
Intuit
(NASDAQ:
INTU
) stock fell 2.6% after the financial software company issued disappointing guidance for the second quarter and fiscal year. -
Ross Stores
(NASDAQ:
ROST
) stock rose 6.9% after the off-price retailer raised its annual profit forecast, as lower freight and supply-chain costs helped soften the impact of slowing sales. -
Texas Pacific
(NYSE:
TPL
) stock rose 5.1% with the energy company set to join the
S&P 500 index
next week, with current constituent
Marathon Oil
(NYSE:
MRO
) being acquired by
ConocoPhillips
(NYSE:
COP
). -
Palo Alto Networks
(NASDAQ:
PANW
) stock fell 0.7% after HSBC downgraded its stance on the cybersecurity company to ‘reduce’ from ‘hold’ amid valuation concerns. -
Reddit
(NYSE:
RDDT
) stock fell 7.2% after Bloomberg reported that a shareholder of the social media company is seeking to establish a credit facility using an equity stake in the company. -
MicroStrategy
(NASDAQ:
MSTR
) stock added 1.3% and
Coinbase
(NASDAQ:
COIN
) gained 0.9%, with both companies supported by the rise in the cryptocurrencies, as bitcoin nears $100,000. -
Nvidia
(NASDAQ:
NVDA
) stock fell 0.6% after Phillip Securities downgraded its stance on the semiconductor manufacturer to ‘accumulate’ from ‘buy’, citing recent price action. -
Honeywell
(NASDAQ:
HON
) stock fell 0.2% after the conglomerate said it would sell its personal protective equipment business to Protective Industrial Products for about $1.33 billion in cash. -
Replimune
(NASDAQ:
REPL
) stock rose 15% after the biotechnology firm’s announcement of significant regulatory progress for its lead cancer product.
