Abercrombie & Fitch, Abbott Rise Premarket, Coty Falls
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Thursday, August 27th. Please refresh for updates.
Abbott Laboratories (NYSE:ABT) stock soared 9% after receiving marketing approval from the U.S. Food and Drug Administration for a Covid-19 portable test that can deliver results within 15 minutes.
Coty (NYSE:COTY) stock slumped 6.5% after reporting a 56% drop in quarterly sales as demand for its beauty products took a hit during coronavirus-inspired lockdowns.
Abercrombie&Fitch (NYSE:ANF) stock rose 12% after reporting better-than-expected quarterly sales as the clothes retailer benefited from a surge in online orders.
Amazon (NASDAQ:AMZN) stock dropped 0.4% after the world's largest online retailer unveiled its latest grocery store concept, with high-tech carts that allow customers to skip checkout lines.
Box (NYSE:BOX) stock soared 10% after the software company produced better-than-expected fiscal second-quarter results and strong sales guidance, helped by the Covid-inspired digital transformation.
DraftKings (NASDAQ:DKNG) stock dropped 4.5% and Penn National Gaming (NASDAQ:PENN) fell 3% after a number of sporting events were postponed as athletes protested following a police shooting in Milwaukee.
Tiffany (NYSE:TIF) stock rose 1.8% despite reporting a 29% drop in quarterly sales as the pandemic hammered demand for luxury goods. However, the jeweler said sales trends were improving in August., bolstering hopes that its planned takeover by LVMH Moet Hennessy Louis Vuitton (OTC:LVMUY) will go ahead.
Dollar General (NYSE:DG) stock rose 0.9% after same-store sales rose 18.8% in the second quarter, beating estimates as more Americans bought low-price groceries and household items during the pandemic. The company also restarted its share buyback plan.
Dollar Tree (NASDAQ:DLTR) stock fell 6% despite posting better-than-expected second-quarter earnings, but added that the number of customer visits is declining.
Veoneer (NYSE:VNE)stock rose 20% after announcing a tie-up with Qualcomm (NASDAQ:QCOM) Technologies on software for its driver assistance systems.
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