Stocks - Costco Jumps in Premarket, Chevron, National Beverage Tumble
Investing.com - Stocks in focus in premarket trade Friday:
• Costco Wholesale (NASDAQ:COST) stock jumped 4.78 at 7:51 AM ET (12:51 GMT) after the company reported fiscal second-quarter profit that smashed consensus on the back of a strong rise in quarterly same-store sales.
• Chevron (NYSE:CVX) and Schlumberger (NYSE:SLB) both fell 1.11% after the Norwegian government recommended its sovereign wealth fund divest its holdings of oil and gas stocks. Halliburton (NYSE:HAL) fell 1.54%, although Exxon Mobil (NYSE:XOM) bucked the trend, rising 1.1%. The fund owns just under 1% of all four companies.
• Caesars Entertainment (NASDAQ:CZR) stock gained 2.56% as activist investor Carl Icahn filed an increase in his stake to 15.53%, from the prior report of 9.78%. Bloomberg reported that Icahn is now the largest shareholder.
• Eventbrite (NYSE:EB) stock tumbled 22.58% after the company reported a wider-than-expected quarterly loss, while its outlook for first-quarter revenue missed consensus.
• National Beverage (NASDAQ:FIZZ) stock sank 17.97% after the company reported a wider-than-expected quarterly loss. Chief Executive Nick Caporella said he was “truly sorry” for the disappointing figures, bizarrely blaming them on the “results of injustice" without specifying further.
• Upland Software (NASDAQ:UPLD) stock surged 10.71% after quarterly results beat analysts’ expectations and the company provided an upbeat outlook.
• Tesla (NASDAQ:TSLA) stock edged forward 0.16% as the company signed an agreement with Chinese lenders for funding to move forward with its Gigafactory in Shanghai.
• Marvell Technology (NASDAQ:MRVL) stock fell 0.73% after the company reported mixed quarterly results and produced a lower-than-expected guidance.
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