Bed Bath & Beyond, Deere, Coinbase Fall Premarket; Foot Locker Rises

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Bed Bath & Beyond, Deere, Coinbase Fall Premarket; Foot Locker Rises
Credit: © Reuters.

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Friday, August 19th. Please refresh for updates.

  • Bed Bath & Beyond (NASDAQ: BBBY ) stock fell 43% after billionaire investor Ryan Cohen unloaded his entire stake in the troubled home goods retailer, booking an estimated profit of around $60 million on a five-month investment, and disappointing those who had expected him to agitate for change in the struggling company.

  • Deere (NYSE: DE ) stock fell 4.9% after the world's largest heavy equipment maker missed quarterly earnings estimates as it continues to grapple with parts shortages stemming from global supply chain issues.

  • Coinbase (NASDAQ: COIN ) stock fell 9.2% with the crypto exchange suffering the repercussions of one of the worst days in weeks for the cryptocurrency universe.

  • Applied Materials (NASDAQ: AMAT ) stock rose 0.6% after the semiconductor manufacturer beat expectations for its fiscal third quarter, while also offering up healthy fourth quarter revenue guidance.

  • Foot Locker (NYSE: FL ) stock soared 21% after strong quarterly numbers as well as appointing former Ulta Beauty head Mary Dillon as its chief executive officer, effective Sept. 1.

  • Bill.com (NYSE: BILL ) stock rose 16.2% after the fintech company stated that it expected to be profitable on an adjusted basis in the new fiscal year while appointing a new chief product officer and chief operating officer.

  • Madison Square (NYSE: SQ ) Garden Entertainment (NYSE: MSGE ) stock rose 5.2% after the company announced it’s exploring a spinoff of its live entertainment business, including its iconic New York City arena.

  • HP (NYSE: HPQ ) stock fell 4% after Wells Fargo downgraded its stance on the tech company to ‘underweight’ from ‘equal-weight’, saying PC sales will come under pressure.

  • Credit Suisse (SIX: CSGN ) (NYSE: CS ) stock fell 1.8% after Bloomberg News reported that the bank’s top shareholder Harris Associates has asked the lender to fix its investment bank unit or seek other options.

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