Stocks - Chewy, Altria Fall in Premarket; Stitch Fix, Autozone Rise
Investing.com -- Stocks in focus in premarket trade on Tuesday, 10th December.
Chewy (NYSE:CHWY) stock fell 2.4% after reporting a larger-than-expected loss per share of 20c, compared to expectations of 16c, in its quarterly report after the close on Monday.
Stitch Fix (NASDAQ:SFIX) stock rose 11% after the company defied expectations of a loss in the three months to November in earnings released after the close on Monday. The online personal-styling service also announced the appointment of Bain & Co. digital guru Elizabeth Spaulding as president.
AutoZone (NYSE:AZO) stock rose 5.7% in response to better-than-expected same-store sales in the three months to November.
Amazon.com (NASDAQ:AMZN) stock edged 0.4% lower on general concerns about the economy, as the market continued to digest the news of its formal complaint about the way it lost a big-ticket order to provide the Defense Department with cloud-computing services.
Sanofi (PA:SASY) (NASDAQ:SNY) rose 4.5% after the company said it would drop expensive research into diabetes and cardiovascular drugs and squeeze some $2.2 billion a year in cost savings out of its supply chain.
Altria (NYSE:MO) stock fell 0.3%, extending losses on concerns about the valuation of its stake in Juul. Fellow investor Tiger Global has reportedly written its valuation of Juul down to $19 billion, whereas Altria still has a valuation of $24 billion on its books.
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