By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Friday, August 28th. Please refresh for updates.
- Coca-Cola (NYSE:KO) stock rose 1% after the soft drinks manufacturer announced it would reduce its global workforce as part of a company-wide restructuring. The company said it would incur about $350 million to $550 million in severance expenses.
- Workday (NASDAQ:WDAY) stock soared 10% after the cloud software company reported better-than-expected quarterly revenue and earnings. It also said that Chano Fernandez had been promoted to co-CEO to pair with Aneel Bhusri.
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Ulta Beauty (NASDAQ:ULTA) stock soared 13% after the retailer reported better-than-expected second-quarter profits, after its online sales tripled.
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Tesla (NASDAQ:TSLA) stock rose 2.1% after co-founder Elon Musk confirmed Thursday that the company’s gigafactory in Nevada was the target of a cyberattack that was foiled by the FBI. The stock has risen more than 420% since the beginning of this year.
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Walmart (NYSE:WMT) stock jumped 2.8%, continuing Thursday’s gains after the retail giant confirmed it was teaming up with Microsoft (NASDAQ:MSFT), up 0.6%, to bid for the TikTok video sharing site.
- Dell (NYSE:DELL)stock rose 3.2% after the tech giant posted a smaller-than-expected drop in quarterly revenue and beat profit estimates on robust demand for its products for remote work and online learning.
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Gap (NYSE:GPS) stock dropped 0.5% despite the clothes retailer reporting a surprise 13% rise in quarterly comparable sales on Thursday, as consumers stuck at home bought more of its Old Navy and Athleta clothing online.
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United Airlines (NASDAQ:UAL) stock rose 2.8% after the embattled airline announced plans to cut 2,850 pilot jobs between Oct. 1 and Nov. 30 if the government does not extend an aid package to help airlines cover employee payroll for another six months.