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Macy's, Kohls Rise Premarket; Robinhood Falls

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By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Thursday, August 19th. Please refresh for updates.

Robinhood (NASDAQ:HOOD) stock fell 9.9% after the owner of the popular trading app warned that the trading frenzy among small-time investors, mainly in crypto-currencies, that boosted its second-quarter revenue would slow down in the coming months.

Kohls (NYSE:KSS) stock rose 2.2% after the department store chain beat quarterly sales and raised its forecast for the year, as Americans returned to brick-and-mortar stores.

Macy’s (NYSE:M) stock rose 4.9% after the retailer raised its full-year revenue forecast, as vaccinations encourage more U.S. shoppers to return to its department stores to buy apparel and footwear.

Nvidia (NASDAQ:NVDA) stock rose 1.3% after the chip maker forecast third-quarter revenue above expectations on Wednesday as it benefits from a boom in demand, although it noted talks with regulators to clear its acquisition of British semiconductor Arm are taking longer than expected.

Cisco (NASDAQ:CSCO) stock fell 1.6% after the technology conglomerate’s first-quarter profit forecast fell short of estimates, warning that supply chain issues would continue to drive up component costs and delivery backlogs.

Wells Fargo (NYSE:WFC) stock fell 2.2% after the banking giant announced it was reversing its decision to close personal lines of credit for its customers.

Tapestry (NYSE:TPR) stock fell 0.4% despite the company beating quarterly sales estimates, as the reopening of economies boosted demand for designer apparel and purses.

Estee Lauder (NYSE:EL) stock rose 0.9% after the cosmetics maker beat market estimates for quarterly sales, as Americans started emerging from their home following the easing of coronavirus restrictions.

Amazon (NASDAQ:AMZN) stock fell 0.6% after the Wall Street Journal reported that the online retail giant plans to open several large department stores in the U.S., hoping to sell more goods, like clothing and electronics.

Oatly (NASDAQ:OTLY) ADRs rose 1.6% after RBC upgraded its investment stance on the Swedish food company to ‘outperform’ from ‘sector perform’, saying the recent pullback means the stock offers value.

BJs Wholesale Club (NYSE:BJ)stock rose 0.9% after the warehouse retailer beat estimates for its latest quarter, helped by unexpected growth in same-store sales.

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