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Lululemon, RH Rise Premarket; Boston Beer, GameStop Fall

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By Peter Nurse

Investing.com — Stocks in focus in premarket trade on Thursday, September 9th. Please refresh for updates.

Lululemon Athletica (NASDAQ:LULU) stock rose 13% after the athletic retailer offered up a upbeat full-year forecast, indicating that demand for its yogawear and other clothes will remain high even as people's working routines revert to pre-pandemic habits.

Boston Beer (NYSE:SAM) stock fell 8.9% following the move from the brewer to pull its full-year earnings guidance on weak demand for its hard seltzer brand Truly.

GameStop (NYSE:GME) stock fell 8.7% after the video games retailer reported a hefty quarterly loss as the meme stock favorite tries to transition from bricks-and-mortar shops to having more of an online presence.

RH (NYSE:RH) stock rose 2.6% following the furniture retailer reporting expectations-beating quarterly earnings, although the company added it would delay its fall catalog due to supply issues.

Bilibili (NASDAQ:BILI) stock fell 6.5% and NetEase (NASDAQ:NTES) stock fell 4.4% following a report in the South China Morning Post that Beijing has temporarily frozen new game approvals, part of a broader regulatory crackdown on the gaming industry.

Alibaba (NYSE:BABA) ADRs fell 2.6% on reports that authorities had blocked its LinkDoc unit from listing in the U.S., forcing it to seek a new round of private funding elsewhere.

United Airlines (NASDAQ:UAL) stock fell 0.8% after the airline warned its third-quarter revenue and capacity would take a hit from weaker travel demand due to a rise in Covid-19 cases.

Caesars (NASDAQ:CZR) stock rose 0.1% after the gaming group announced plans to sell its unit William Hill’s non-U.S. assets to 888 Holdings (OTC:EIHDF) for 2.2 billion pounds ($3 billion).

Cisco Systems (NASDAQ:CSCO) stock fell 1% after Morgan Stanley (NYSE:MS) downgraded its investment recommendation on the tech company to ‘equal weight’ from ‘overweight’, saying the company’s stock has reached a ceiling and there is little upside left.

Macy’s (NYSE:M) stock rose 0.9% on the back of investment bank Cowen upgrading its stance on the department store chain to ‘outperform’ from ‘market perform’, saying the company has turned itself into a modern digital retailer.

 

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