Lyft, Take-Two, TripAdvisor fall premarket; Coty, Dupont rise
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Tuesday, November 8th. Please refresh for updates.
Lyft (NASDAQ:LYFT) stock fell 16% after the ride-hailing firm reported the smallest quarterly growth in active riders so far this year, underperforming its bigger rival Uber (NYSE:UBER).
Take-Two (NASDAQ:TTWO) stock fell 16% after the video game maker lowered its annual sales forecast late Monday, hit by a higher dollar and a broader industry slump.
Coty (NYSE:COTY) stock rose 2% after the beauty company beat expectations for quarterly revenue and profit as sturdy demand for its fragrances and cosmetics helped soften the hit from a strong U.S. dollar and the company's exit from Russia.
Dupont De Nemours (NYSE:DD) stock rose 3.7% after the industrial materials maker beat third-quarter profit expectations and announced a new $5 billion share buyback scheme, boosted by strong demand for electronics and other industrial products.
TripAdvisor (NASDAQ:TRIP) stock fell 23% after the online booking site disappointed with its quarterly earnings, hit by foreign currency fluctuations, even as it saw sustained demand for travel.
Lordstown (NASDAQ:RIDE) stock rose 15% after electronics giant Foxconn (TW:2354) announced plans to take a near-20% stake in the loss-making U.S. electric truck maker for up to $170 million.
Qiagen (NYSE:QGEN) stock rose 3.7% after the biotech company raised its outlook for the full year, now expecting sales of $2.25 billion, up from the previous at least $2.2 billion.
Dave & Buster’s (NASDAQ:PLAY) stock rose 7.8% after Deutsche Bank upgraded its investment stance on the restaurant and entertainment chain to ‘buy’ from ‘hold’, calling it a decent risk-reward restaurant play.
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