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General Mills, Coty, Estée Lauder Rise Premarket; Stitch Fix Falls

Stock Markets Sep 21, 2022 07:46AM ET
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By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Wednesday, September 21st. Please refresh for updates.

  • Stitch Fix (NASDAQ:SFIX) stock fell 4.7% after the online personal styling service reported disappointing quarterly results and an underwhelming outlook, suggesting the weaker macroeconomic environment is holding back discretionary spending.

  • Gap (NYSE:GPS) stock fell 0.1% after the Wall Street Journal reported that the clothing retailer is set to cut 500 corporate jobs, seeking to reduce expenses amid declining sales.

  • Estée Lauder (NYSE:EL) stock rose 1.9% after Goldman Sachs upgraded its stance on the cosmetics company to ‘buy’ from ‘neutral’, seeing a path to “robust” sales growth.

  • Beyond Meat (NASDAQ:BYND) stock fell 1.4% after the plant-based meat producer suspended its COO Doug Ramsey, effective immediately, following reports of the executive's arrest for allegedly biting a man's nose during an altercation.

  • Novartis (NYSE:NVS) ADRs fell 0.8% after the Swiss drugmaker announced plans to petition the U.S. Supreme Court to uphold the validity of its patent for a dosing regimen of its blockbuster multiple sclerosis drug, Gilenya, and reverse a federal appeals court decision made earlier this summer.

  • Northrop Grumman (NYSE:NOC) stock rose 1.5%, Raytheon Technologies (NYSE:RTX) stock rose 1.4% and Lockheed Martin (NYSE:LMT) stock rose 1.9% as the defense companies gained after President Vladimir Putin ordered Russia's first mobilization since World War II.

  • General Mills (NYSE:GIS) stock rose 2% after the packaged food retailer raised its full-year sales and profit forecast, banking on higher prices and resilient demand for its breakfast cereals, snack bars, and pet food.

  • Coty (NYSE:COTY) stock rose 4.6% after the cosmetics maker announced its strategy to double skincare product sales by fiscal 2025.
General Mills, Coty, Estée Lauder Rise Premarket; Stitch Fix Falls
 

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Comments (3)
مصطفى مصطفى
مصطفى مصطفى Sep 21, 2022 10:26AM ET
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my Spotify
Mitchel Pioneer
Mitchel Pioneer Sep 21, 2022 8:50AM ET
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Ah yes, the pre-market fraud is in full swing, as the laughingstock of the investing world has to "rally" on "FED day," just as it has many times before.  Can't break the criminal string, can we?  Of course, savvy "investors" are loading up, knowing full well, their investment will go under, but they can't lose investing Monopoly money.  And of course, the "market" has "priced in" at 1 point hike, so it will "rally" 500 points today on a .75 point increase, and miraculously recapture 3,900 on the S&P.  BIGGEST INVESTMENT JOKE IN THE WORLD.
Stephen Fa
Stephen Fa Sep 21, 2022 8:27AM ET
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Ears are meat, so it was against company values.
 
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