DocuSign, Zscaler, T-Mobile US Rise Premarket; Smith & Wesson Falls
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Friday, September 9th. Please refresh for updates.
DocuSign (NASDAQ: DOCU ) stock rose 16.9% after the software company posted better-than-expected second quarter results and raised its subscription revenue guidance for the year.
Smith & Wesson (NASDAQ: SWBI ) stock fell 5.4% after the gunmaker posted quarterly results that underscored a drop in consumer demand following a surge two years ago.
Zscaler (NASDAQ: ZS ) stock rose 14% after the cybersecurity firm’s fiscal fourth-quarter results topped expectations and its 2023 outlook impressed on cloud growth.
T-Mobile US (NASDAQ: TMUS ) stock rose 1.6% after the wireless carrier announced a $14 billion share buyback program that will run until September next year.
Hershey (NYSE: HSY ) stock rose 0.7% after the chocolate giant announced plans to spend $90 million to open two new production lines in Mexico, with the expansion set to increase output by 25%.
Navient (NASDAQ: NAVI ) stock fell 2% after Barclays downgraded its investment stance on the student loans servicer to ‘equal weight’ from ‘overweight’, citing risks attached to the administration’s student debt forgiveness plan.
Regeneron (NASDAQ: REGN ) stock rose 1% after Morgan Stanley upgraded its stance to ‘overweight’ from ‘equal weight’, saying the pharmaceutical company’s stock could rally 20% after promising eye drug results.
Virgin Galactic (NYSE: SPCE ) stock fell 2.9% after Bernstein downgraded its stance on the space travel company to ‘underperform’ from ‘market perform’, as its space flights get further delayed.
Caterpillar (NYSE: CAT ) stock rose 1.5% after the heavy equipment manufacturer reached a settlement with the IRS over a back-taxes dispute.
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