Nordstrom, Apple, VMware fall premarket; Deere, HP rise
Investing.com | Author Peter Nurse
Published Nov 23, 2022 07:37AM ET
Updated Nov 23, 2022 07:56AM ET
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Wednesday, November 23rd. Please refresh for updates.
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Nordstrom (NYSE:JWN) stock fell 7.7% after the upstream clothing retailer said net sales at its retail stores fell 3.4% in its third quarter, trimming its net profit forecast for the fiscal year ending January 2023.
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HP (NYSE:HPQ) stock rose 3.1% after the PC maker said it expects to cut up to 6,000 jobs by the end of fiscal 2025, or about 12% of its global workforce, cutting costs at a time when sales of personal computers and laptops are sliding.
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Deere (NYSE:DE) stock rose 3.7% after the company reported a higher-than-expected quarterly profit on strong sales accelerated by price hikes for its agriculture and construction equipment and forecast higher net income next year.
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Apple (NASDAQ:AAPL) stock fell 0.2% after violent protests broke out at the world’s largest iPhone assembly plant, owned by Foxconn, which has already been under strict COVID-19 restrictions for a month.
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VMware (NYSE:VMW) stock fell 1.3% after the cloud computing company missed quarterly profit and sales expectations while Broadcom’s $61 billion acquisition deal is now on the radar of Britain's competition regulator.
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Credit Suisse (NYSE:CS) stock fell 2.4% after the Swiss banking giant said it expects to lose around $1.6B in the current quarter due to an exodus of wealthy clients.
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Manchester United (NYSE:MANU) stock rose 8.4% after its owners, the Glazer family, said it will consider a potential sale of the underperforming club.
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Autodesk (NASDAQ:ADSK) stock fell 9.5% after the software company issued disappointing fourth-quarter revenue guidance, citing lower demand for multi-year, up-front contracts.
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