By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Thursday, June 10th. Please refresh for updates.
GameStop (NYSE:) stock fell 7.4%, paring some of this year’s sharp ramup, after the struggling video games retailer said it planned to offer more shares and disclosed that regulators are investigating trading of its stock. The company also hired new chief executive and chief financial officers from Amazon (NASDAQ:).
RH (NYSE:) stock rose 9.4% after the home furnishings retailer reported better-than-expected quarterly revenue and raised its full-year outlook.
Signet Jewelers (NYSE:) stock rose 7.5% after the jewelry retailer beat expectations with its quarterly earnings and revenue, as same-store sales more than doubled from a year earlier. It also raised its full-year revenue forecast.
Lakeland Industries (NASDAQ:) stock fell 5.5% after the maker of personal protective equipment saw Covid-related demand tapering off, with the share of revenues in net sales attributable to the pandemic almost halving to 13% in the quarter from 25% in the same quarter of the last fiscal year.
Clover Health Investments (NASDAQ:) stock rose 3.8%, with this meme stock continuing Wednesday’s sharp 23% losses. Bank of America (NYSE:) downgraded its recommendation to ‘underperform’ from ‘neutral’, saying the fundamentals couldn’t support the stock’s valuation.
ServiceNow (NYSE:) stock rose 2.9% after Goldman Sachs (NYSE:) added the stock to its conviction buy list, saying the company will soon resume its growth to becoming a major player in enterprise software.
United Parcel Service (NYSE:) stock rose 1.5% after JPMorgan (NYSE:) upgraded its recommendation to ‘overweight’ from ‘neutral’, predicting a 20% rally on the parcel delivery firm’s increased pricing power.
F5 Networks (NASDAQ:) stock rose 1.7% after Credit Suisse (SIX:) upgraded its recommendation to ‘overweight’ from ‘neutral’, saying the recent pullback in the cybersecurity firm’s stock has created a buying opportunity.
Clean Energy Fuels (NASDAQ:) stock rose 1%, with the company becoming a new favorite among the retail trade. This became the second-most discussed name among retail traders in the last few hours before the bell Wednesday, according to data from HypeEquity.
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