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Stocks - Nike, Wells Fargo Drop Premarket; Ford Gains

Stock MarketsJun 26, 2020 08:17AM ET
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© Reuters.

By Peter Nurse 

Investing.com -- Stocks in focus in premarket trade on Friday, June 26th. Please refresh for updates.

  • Nike (NYSE:NKE) stock dropped 3.6% after the sportswear maker reported an unexpected quarterly net loss, its first in two years, prompted by a sales decline of 38% year-over-year. Digital sales soared 75%, jumping to 30% of total revenue, as shoppers were channeled to Nike’s website during the coronavirus-inspired lockdown. 

  • Gap (NYSE:GPS) stock soars over 11% after the retailer teamed up with rapper and fashion designer Kanye West to create the Yeezy line of clothing, aimed at a younger clientele. West has already agreed a partnership with German sportswear company Adidas (OTC:ADDYY) to sell his branded footwear.
  • Ford (NYSE:F) stock gained 1.2% after revealing late Thursday the all-new F150 truck, its first redesign in six years. 

  • Wells Fargo (NYSE:WFC) stock dropped 3.6%, 'leading; a sectoral selloff after the Federal Reserve said Thursday it would impose a cap on dividend payments as well as halting share repurchases for the next three months.  

  • Amazon (NASDAQ:AMZN) stock gained 0.9% after agreeing to pay over $1 billion to buy self-driving startup Zoox, expanding the e-commerce giant's reach in autonomous-vehicle technology.

  • Facebook (NASDAQ:FB) stock fell 0.8% after Verizon (NYSE:VZ) joined a list of companies intending to boycott its social media networks in protest at its hands-off approach to hate speech and disinformation. 

  • Virgin Galactic (NYSE:SPCE) stock rose 4.5% after the company successfully completed its second glide flight test in New Mexico on Thursday, moving one step nearer towards starting commercial operations.

  • Synnex (NYSE:SNX) stock rose 8.2% despite reporting that profit fell by half for its fiscal second quarter as the U.S. economy came to a halt. That said, this was better than expected and continues a good run for the company as it has  surpassed consensus EPS estimates for its last four quarters.

  • NetApp (NASDAQ:NTAP) stock rose 4% after Bank of America (NYSE:BAC) upgraded its investment stance on the cloud data services and data management company to buy from neutral.
Stocks - Nike, Wells Fargo Drop Premarket; Ford Gains
 

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Comments (2)
Camaro Camero
Camaro Jun 26, 2020 8:57AM ET
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INO :) You're welcome.
neang aee 냥에
neang aee 냥에 Jun 26, 2020 8:49AM ET
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walk in the virus.....
 
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