Stocks: Deere Falls, GE, Nvidia Rise in Premarket
General Electric (NYSE:GE) stock bounced 4.4%, recouping some of its losses from Thursday in the wake of Harry Makropoulos’ attack on the company’s accounting practices. A regulatory disclosure showed that CEO Larry Culp had bought shares on Thursday to take advantage of the dip.
NVIDIA (NASDAQ:NVDA) stock rose 5.4% after the company released stronger-than-expected figures for the three months through July late Thursday. It said it expects the year-on-year decline in revenue to bottom out, and also posted record sales of chips to the automotive sector.
Advanced Micro Devices (NASDAQ:AMD) was up 2.9% along with other chipmakers, lifted by Nvidia’s outlook.
Deere & Company (NYSE:DE) shares fell 0.9%, missing out on the broader market bounce, after it cut its profit forecast for the full year, citing a reluctance to invest by farmers, its biggest clients, in light of the ongoing trade conflict with China.
Cathay Pacific ADRs (OTC:CPCAY) were set to be in focus after the Hong Kong-based airline lost its chief executive. Rupert Hogg resigned amid mounting pressure from the Chinese authorities, who were unhappy at Cathay staff’s participation in pro-democracy protests.
Cisco Systems (NASDAQ:CSCO) was up 0.5%, still lagging the broader market after its worst day in six years on Thursday.
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