Nvidia, Hormel Foods, Okta, Ciena Fall Premarket; Walt Disney Rises

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Nvidia, Hormel Foods, Okta, Ciena Fall Premarket; Walt Disney Rises

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Thursday, September 1st. Please refresh for updates.

  • Nvidia (NASDAQ: NVDA ) stock fell 4.1% and Advanced Micro Devices (NASDAQ: AMD ) stock fell 2.4% after the chip manufacturers said U.S. officials have told them to stop exporting computing chips for artificial intelligence work to China, potentially hitting business in the country.

  • Hormel Foods (NYSE: HRL ) stock fell 4.2% after the food producer disappointed with its full-year guidance, citing persistent operational costs.
  • Ciena (NYSE: CIEN ) stock fell 9.8% after the telecommunications equipment maker missed quarterly estimates, with its sales hit by continued component shortages.
  • Okta (NASDAQ: OKTA ) stock slumped 18% after the identity software company said it was running into unexpected integration issues following its acquisition of rival Auth0 last year.
  • Bed Bath & Beyond (NASDAQ: BBBY ) stock fell 3.5% with the latest drastic cost-cutting measures, including closing 150 stores, have done little to stop investors deserting the troubled retailer.

  • Walt Disney (NYSE: DIS ) stock rose 0.3% after the Wall Street Journal reported that the entertainment giant is exploring a membership program that could offer discounts or perks to encourage customers to spend more on its streaming services, theme parks and resorts.

  • Polestar (NASDAQ: PSNY ) stock fell 2.2% after the premium Swedish electric vehicle maker reported a bigger first-half loss despite sales nearly doubling.

  • Campbell Soup (NYSE: CPB ) stock fell 3.6% despite the food company forecasting annual core sales and profit above estimates, although noted higher prices going forward for its packaged meals and canned soups.

  • Ford (NYSE: F ) stock fell 0.7% after the auto giant said it’s recalling 198,000 SUVs in the United States to replace a blower motor assembly after reports of 25 fires.

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