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Bed Bath & Beyond and CarMax Fall Premarket; Virgin Galactic Rises

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By Peter Nurse 

Investing.com — Stocks in focus in premarket trade on Thursday, September 30th. Please refresh for updates.

Virgin Galactic (NYSE:SPCE) stock rose 8.4% after the U.S. Federal Aviation Administration closed its investigation into the space tourism company’s July launch, clearing it to fly again.

Bed Bath&Beyond (NASDAQ:BBBY) stock dropped over 18% after the home goods retailer reported disappointing second-quarter results, citing supply chain challenges and elevated Covid concerns in the key markets of Florida, Texas and California.

CarMax (NYSE:KMX) stock fell 7.8% on the back of the used car retailer missing quarterly earnings estimates, with comparable pre-owned car sales rising 6.2%, less than the 7.3% expected.

Kohls (NYSE:KSS) stock fell 7.6% after Bank of America (NYSE:BAC) downgraded its investment stance on the department store chain all the way to ‘underperform’ from ‘buy’, citing persistent supply chain challenges.

Lordstown (NASDAQ:RIDE) stock rose 6.7% following a Bloomberg report that indicated Foxconn may buy the electric vehicle maker’s Ohio plant to fulfill its own ambitions of making an electric vehicle. 

Perrigo (NYSE:PRGO) stock soared over 14% on the back of the drugmaker settling a tax issue with the Irish authorities, agreeing a 300 million euro ($350 million) settlement.

Starbucks (NASDAQ:SBUX) stock fell 0.5% after Atlantic Equities downgraded its stance on the coffee chain to ‘neutral’ from ‘overweight’, citing wage increases and slowing growth in China, one of its key markets.

Acceleron Pharma (NASDAQ:XLRN) stock rose 0.5% after Merck (NYSE:MRK), up 0.9%, confirmed a WSJ report that it was buying the drugmaker for $11.5 billion. 

 

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