Boeing, Snowflake, Five Below Rise Premarket; Apple Falls
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Thursday, December 2nd. Please refresh for updates.
Apple (NASDAQ:AAPL) stock fell 2.8% after Bloomberg reported that demand for the tech giant’s latest batch of iPhones is weakening due to price and availability issues.
Boeing (NYSE:BA) stock rose 5% after China's aviation authority issued an airworthiness directive on the 737 MAX plane, potentially allowing the return of this key model to service in China after more than two and a half years.
Snowflake (NYSE:SNOW) stock soared 14% after the data platform provider reported strong fourth-quarter guidance, reporting upbeat third-quarter results bolstered by its international expansion.
Splunk (NASDAQ:SPLK) stock rose 0.7% after the software company recorded its first quarter with over $1 billion in annual recurring revenue, with the Cloud accounting for a record 68% of its software bookings. Crowdstrike (NASDAQ:CRWD) stock rose 0.3% after the cybersecurity company announced strong quarterly earnings as well as a substantial increase in new subscription customers.
Okta (NASDAQ:OKTA) stock rose 2% after the cloud identity management company reported strong third-quarter results, posting revenue growth of 61% from last year and beating its own guidance.
Five Below (NASDAQ:FIVE) stock rose 9.4% after the discount store posted better than expected results on both the top and bottom-line in its third quarter. Dollar General (NYSE:DG) stock fell 3.1% after the discount chain narrowed its full-year sales forecast on Thursday, as returning consumer appetite for discretionary items helped counter easing demand for groceries. Square (NYSE:SQ) stock fell 0.5% after the payments company announced it was changing its name to ‘Block’ as it looks to expand into new technologies like blockchain.
Simon Property Group (NYSE:SPG) stock rose 1.4% after Morgan Stanley (NYSE:MS) reiterated an ‘outperform’ rating on the real estate group, saying its recent dip creates an attractive entry point, with more than 20% upside.
Vir Biotechnology (NASDAQ:VIR) stock soared 13% and GlaxoSmithKline (NYSE:GSK) ADRs rose 0.6% after analysis of the antibody-based Covid-19 therapy the partners are developing has indicated the drug is effective against the new omicron variant.
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