Macy's, Krispy Kreme Rise Premarket; DraftKings, SoFi Technologies Fall
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Tuesday, February 22nd. Please refresh for updates.
Home Depot (NYSE: HD ) stock fell 2.7% despite the home improvement chain beating quarterly same-store sales estimates, buoyed by steady demand for its tools, paint, and building materials.
Macy’s (NYSE: M ) stock rose 7.4% after the department chain topped market expectations for comparable sales in the crucial holiday quarter, rejecting calls to split off its e-commerce operations from its stores.
SoFi Technologies (NASDAQ: SOFI ) stock fell 2.9% after the Wall Street Journal reported that the online personal finance company is considering buying banking-software maker Technisys in an all-stock deal, potentially resulting in an equity dilution.
DraftKings (NASDAQ: DKNG ) stock fell 5.2% after Wells Fargo downgraded its stance on the sports betting company to “equal weight” from “overweight”, saying rising costs are going to weigh heavily.
Krispy Kreme (NASDAQ: DNUT ) stock rose 1.8% after price hikes and more purchase points for the customers helped the doughnut chain surpass fourth quarter estimates.
Polaris (NYSE: PII ) stock rose 0.1% after Citigroup added the manufacturer of electric vehicles to its focus list, saying the stock can surge once supply chain issues ease.
Medtronic (NYSE: MDT ) stock fell 0.1% despite the company reporting a 16.5% rise in quarterly profit, helped by a strong demand for its pacemakers and other heart devices.
Exxon Mobil (NYSE: XOM ) stock rose 1.8% and Chevron (NYSE: CVX ) stock 1.7% with oil stocks benefiting from the jump in oil prices after Russia’s move into Ukraine.
Houghton Mifflin (NASDAQ: HMHC ) stock soared 15% with the publishing company set to be taken private by Veritas Capital in a deal worth $21 a share, representing a near 16% premium from Friday’s close.
- Volkswagen (DE: VOWG_p )and Porsche (DE: PSHG_p ) will be in focus after the German car manufacturers confirmed they were in talks about a potential listing of the luxury carmaker, which could result in one of the biggest-ever IPOs.
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