Marvell, Ulta, Morgan Stanley Rise Premarket; DocuSign Slumps

  • Stock Market News
Marvell, Ulta, Morgan Stanley Rise Premarket; DocuSign Slumps
Credit: © Reuters.

By Peter Nurse -- Stocks in focus in premarket trade on Friday, December 3rd. Please refresh for updates.

  • Didi Global (NYSE: DIDI ) ADRs fell 7.2% after the Chinese ride-hailing giant announced it will delist from the New York Stock Exchange and pursue a listing in Hong Kong, just a few months after its $4.4 billion U.S. IPO.

  • Ulta Beauty (NASDAQ: ULTA ) stock rose 6.1% after the chain of beauty stores raised its full-year sales and margin outlooks after reporting bumper third-quarter results in the wake of the reopening. 

  • Marvell (NASDAQ: MRVL ) stock rose over 21% after the chipmaker reported positive fourth-quarter guidance after third-quarter results topped Wall Street estimates, led by a strong performance in its data center business.

  • DocuSign (NASDAQ: DOCU ) stock slumped 31% after the business software company issued disappointing fourth-quarter guidance, suggesting the boom from remote work may be lessening.

  • Asana (NYSE: ASAN ) stock slumped over 15% after the company which hosts a work management platform posted another quarterly loss.

  • Morgan Stanley (NYSE: MS ) stock rose 1.6% after Citigroup upgraded its stance on the U.S. investment bank to ‘buy’ from ‘neutral’, saying its shift towards wealth management can earn it a premium valuation. 

  • Peloton (NASDAQ: PTON ) stock rose 3.3% after Deutsche Bank initiated coverage of the exercise equipment maker with a ‘buy’ rating, saying its recent dip creates a buying opportunity, with more than 70% upside.

  • Nucor (NYSE: NUE ) stock rose 2.4% after the steel producer increased its quarterly dividend by 23% and announced a $4 billion buyback program.


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