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Broadcom, DocuSign, Didi Rise Premarket; Virgin Galactic Falls

Investing.com
·2 min read

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Friday, September 3rd. Please refresh for updates.

Broadcom (NASDAQ:AVGO) stock rose 0.6% after the chip maker reported record third-quarter revenue and delivered a promising outlook for the ongoing quarter, saying momentum in its domains of Cloud, wireless, broadband and 5G infrastructure will continue.

DocuSign (NASDAQ:DOCU) stock rose 2.1% following the corporate software provider reporting strong second-quarter earnings. That said, it forecast a maximum 39% rise in its annual revenue, a sharp slowdown from 49% on-year growth in the previous financial year.

Nvidia (NASDAQ:NVDA) stock rose 0.3%, boosted by Jefferies (NYSE:JEF) lifting its price target on the semiconductor, keeping a ‘buy’ rating, saying its growing data center and software segments should boost returns.

Forte Biosciences (NASDAQ:FBRX) stock slumped 80% after the biopharmaceutical company’s experimental treatment for eczema failed to meet its main goal.

Virgin Galactic (NYSE:SPCE) stock fell 1.7% with the space travel company’s flights grounded by the U.S. Federal Aviation Administration until the end of its investigation into a ‘mishap’ report on its July flight, which included owner Richard Branson.

Didi Global (NYSE:DIDI) ADRs rose 7.3% following a Bloomberg report that Beijing’s municipal government has proposed an investment in the world’s largest ride-hailing company. The stock is still over 30% below its July IPO price.

Chevron (NYSE:CVX) stock rose 0.5% on a Wall Street Journal report that the oil major is preparing to defend itself against a potential challenge from activist investors. The report added that Chevron met with representatives of the pro-environment Engine No. 1 fund at the center of similar events at rival Exxon (NYSE:XOM).

Pagerduty (NYSE:PD) stock climbed 15% after the cloud computing company posted a smaller loss than expected for its latest quarter and provided a strong current-quarter revenue outlook.

Fubotv (NYSE:FUBO) stock rose 4.6%, helped by the sports streaming service receiving approval from Arizona regulators to offer mobile betting in the state, the second state to do so after Iowa.

MongoDB (NASDAQ:MDB) stock climbed 13% after the software company posted a narrower quarterly loss than expected and offered positive current-quarter revenue guidance.

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