Moderna Rises Premarket; Revolve, Vroom Fall
Investing.com
Published Nov 12, 2020 08:11AM ET
Updated Nov 12, 2020 08:38AM ET
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Thursday, November 12th. Please refresh for updates.
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Moderna (NASDAQ:MRNA) stock rose 3.5% after the biotech firm said it was on track to report early data from a late-stage trial of its experimental coronavirus vaccine later this month, and could file for U.S. emergency use authorization in December.
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Revolve (NYSE:RVLV) stock fell 9.3% after the fashion retailer reported a surprise year-over-year decline in net sales for the third quarter, with the company adding the pandemic continued to hurt performance during the early weeks of the fourth quarter.
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Vroom (NASDAQ:VRM) stock fell 11% despite the online auto retailer reporting a smaller-than-expected loss for its third quarter. The problem was the disappointing fourth-quarter guidance.
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Fossil (NASDAQ:FOSL) stock soared 25% after the watchmaker reported strong third-quarter earnings with widening margins. The company also said it had more than $300 million in cash as of the start of October.
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Pinduoduo (NASDAQ:PDD) stock rose 22% after the Chinese e-commerce platform reported better-than-expected quarterly revenue, helped by a recovery in its domestic economy from the pandemic.
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Southwest Airlines (NYSE:LUV) stock fell 2.8% after the company saw a slowdown in revenue improvement in recent weeks for the months of November and December, at a time when Covid cases are rising in the United States.
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Salesforce (NYSE:CRM) stock fell 1.3% after influential investment bank Morgan Stanley downgraded its stance to ‘equal weight’ from ‘overweight’, saying the company’s subscription model may pressure earnings and free cash flow in the near term. The stock is still up over 56% year to date.
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Energizer (NYSE:ENR) stock fell 5.9% after batteries maker disappointed with its quarterly profit, saying it incurred higher Covid-related costs.
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Wells Fargo (NYSE:WFC) stock fell 1.8% after Bloomberg reported that the bank is exploring the sale of its private-label credit card unit.
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Qiagen (NYSE:QGEN) stock rose 1.4% after the company said it would begin selling a portable Covid-19 test in the United States, with that test able to process up to 30 swab samples in 15 minutes.
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