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Macy's, Krispy Kreme Rise Premarket; DraftKings, SoFi Technologies Fall

Published 22-02-2022, 06:54 pm
© Reuters

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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