By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Wednesday, August 25th. Please refresh for updates.
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Nordstrom (NYSE:JWN) stock fell over 11% after the department store chain’s quarterly revenue declined 6% from pre-pandemic levels, with the company flagging supply chain issues and stiff competition.
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Urban Outfitters (NASDAQ:URBN) stock fell 5.4% after the retailer issued disappointing guidance for the quarter, citing higher input costs and lower wholesale sales. Its second-quarter figures were however largely better than expected, helped by strong digital sales.
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Johnson & Johnson (NYSE:JNJ) stock rose 0.5% after the drugmaker said its Covid vaccine booster shot generated a promising immune response in early trials.
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Dick’s Sporting Goods (NYSE:DKS) stock rose over 11% after the outdoor equipment retailer beat expectations for quarterly earnings, announcing a 21% increase in its regular quarterly dividend as well as a special dividend.
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Shoe Carnival (NASDAQ:SCVL) stock rose 2.3% after the retailer more than doubled the Street’s profit expectations for the second quarter.
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Toll Brothers (NYSE:TOL) stock rose 2.1% after the luxury home builder reported a record for new contracts on the quarter, exceeding the third quarter of last year by 35%.
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Campbell Soup (NYSE:CPB) stock fell 1.2% after Piper Sandler downgraded its stance on the food processing company to ‘neutral’ from ‘overweight’, saying commodity inflation will weigh on its bottom line.
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Boston Beer (NYSE:SAM) stock fell 3.7% after Cowen downgraded the brewery to ‘underperform’ from ‘market perform’, saying the hard seltzer boom seems to be slowing significantly.
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Express (NYSE:EXPR) stock rose 5% after the apparel retailer posted a surprise profit in the quarter, stating that it was on track to reach $1.0 billion in e-commerce sales by 2024.
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Cassava Sciences (NASDAQ:SAVA) stock fell over 22% after a “statement of concern” was posted overnight questioning the "accuracy and integrity" of trial data for its treatment of Alzheimer's disease. Cassava has responded, releasing a statement rebutting the claims.