Twitter, Uber Rise Premarket; PayPal Falls
Investing.com
Published Nov 03, 2020 08:02AM ET
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Tuesday, November 3rd. Please refresh for updates.
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PayPal (NASDAQ:PYPL) stock fell 5.6% after the online payments operator cut its revenue forecast to reflect a sharp slowdown in user growth in the third quarter.
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Twitter (NYSE:TWTR) stock rose 1.4% after CEO and Founder Jack Dorsey survived pressure from activist investor Elliott Management to unseat him.
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Cirrus Logic (NASDAQ:CRUS) stock soared 7.8% after the semiconductor supplier beat expectations with its fiscal second-quarter earnings, while also announcing the appointment of a new CEO.
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Uber (NYSE:UBER) stock rose 0.9% and Lyft (NASDAQ:LYFT) stock rose 1.4% as investors expect California voters on Tuesday to pass a proposal that would allow the ride-sharing companies to maintain their current business model and not force them to offer drivers employee status.
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Royal Caribbean (NYSE:RCL) stock fell 0.4% after the cruise operator said on Monday it would stop all its cruises through the end of the year, extending previous suspensions, as coronavirus infections continue to increase globally.
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Walmart (NYSE:WMT) stock rose 0.9% after the Wall Street Journal reported that the retail giant has cut ties with Bossa Nova Robotics, which made robots that scanned shelves for inventory, using human workers instead.
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Humana (NYSE:HUM) stock rose 1.6% after the health insurer beat expectations for both quarterly profit and revenue . However, it also forecast a current-quarter loss due to a resumption of payouts for medical procedures that had been delayed due to the pandemic.
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Thomson Reuters (NYSE:TRI) stock rose 0.9% after the news and information provider reported higher revenue for the third quarter and raised its full year free cash flow outlook for 2020.
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Jazz Pharmaceuticals (NASDAQ:JAZZ) stock rose 7.3% after the company reported strong quarterly figures, while the drugmaker raised its full-year revenue forecast.
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McKesson (NYSE:MCK) stock rose 3.2% after the pharmaceutical distributor posted strong quarterly numbers, helped by strong demand for virus tests and personal protective equipment. It also increased its full-year guidance.
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Wayfair (NYSE:W) stock soared 12% after the e-commerce home retailer reported a net profit in its third-quarter earnings, overturning the loss from the previous quarter. Membership numbers grew by a little more than 50% from a year ago.
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