By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Wednesday, August 26th. Please refresh for updates.
Nordstrom (NYSE:JWN) stock fell 7.3% after reporting a net loss in the second quarter, with sales dropping 53% due to the closure of its stores for long periods due to the coronavirus.
Salesforce (NYSE:CRM) stock soared 14% after the software firm posted a very strong quarter with a big upgrade to its guidance, helped by businesses migrating to the Internet. It has also become a component of the Dow Jones Industrial Average.
Dick’s Sporting Goods (NYSE:DKS) stock rose 11% after its second-quarter online sales almost trebled as customers turned to outdoor pursuits and moved their gym workouts back home during the coronavirus pandemic.
Urban Outfitters (NASDAQ:URBN) stock soared 17% after reporting a surprise profit for the latest quarter with an increase in digital sales driving better-than-expected revenue figures despite a drop in comparable-store sales.
American Airlines (NASDAQ:AAL) stock fell 2.1% after the airline said it would shed 19,000 jobs at the start of October when protections tied to federal aid end, as the pandemic continues to weigh heavily on travel demand. The cuts still leave it with 70% of March's staff level to fly half of the previous year's schedule in the fourth quarter.
Teva Pharma (NYSE:TEVA) ADR fell 1.4% after the pharma’s U.S. unit was indicted Tuesday on charges of price fixing.
Tesla (NASDAQ:TSLA) stock rose 1.4% after Jefferies (NYSE:JEF) lifted its 12-month price target on the electric car-maker to a Street high of $2,500, from $1,200, citing the company's battery production plans in Europe.
Hewlett Packard Enterprises (NYSE:HPQ) stock soared 7.2% despite sales falling 5.5% in the three months to the end of July. The server maker also gave a positive outlook for the full year, signalling its cost-cutting plans may be bearing fruit.
Toll Brothers (NYSE:TOL) stock rose 2% after the home construction company beat quarterly expectations as low mortgage rates and the coronavirus pandemic prompted more buying and building.