ChargePoint Rises Premarket; Chewy, Five Below and Hormel Fall
By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Thursday, September 2nd. Please refresh for updates.
ChargePoint (NYSE:CHPT) stock soared over 15% after the EV-charging infrastructure company raised its guidance for the year as EV penetration in Europe and the U.S. advanced faster than expected in the second quarter.
Chewy (NYSE:CHWY) stock fell 9.6% after the online pet supplies retailer reported a bigger-than-expected quarterly loss and missed second-quarter revenue expectations, while the reiteration of its full-year guidance also disappointed given a strong series of recent numbers.
Five Below (NASDAQ:FIVE) stock fell 8.4% as the discount retailer missed expectations with its second-quarter revenue, citing supply chain issues, even as earnings doubled.
Hormel Foods (NYSE:HRL) stock fell 1.3% after the food producer disappointed with its full-year outlook, citing the impact of higher costs.
Lands’ End (NASDAQ:LE) stock slumped 6.5% with the clothes retailer stating that its profit margins would fall in the second half of its fiscal year, citing supply chain problems.
Didi Global (NYSE:DIDI) ADRs fell 0.7% after Chinese regulators summoned 11 ride-hailing firms, including Didi, to discuss various concerns including the use of unregistered drivers and vehicles.
Ciena (NYSE:CIEN) stock climbed 5.4% after the telecoms equipment supplier’s third-quarter earnings and revenues beating expectations
JPMorgan Chase (NYSE:JPM) stock rose 0.1% after the U.S. banking giant agreed to pay a 25 million euro ($30 million) fine to settle a tax fraud case in France.
Facebook (NASDAQ:FB) stock rose 0.2% despite a record 225 million euros ($266 million) from the Irish data privacy watchdog, over unauthorized data sharing between WhatsApp and other Facebok companies. Facebook had promised EU competition authorities it would not do that, in order to gain antitrust approval for its acquisition of WhatsApp.
Baxter International (NYSE:BAX) stock rose 1% after the health care company confirmed plans to buy medical equipment maker Hill-Rom (NYSE:HRC), up 3.4%, in a $10.5 billion all-cash deal.
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