Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Stocks - Uber, Netflix Slump Premarket; Tapestry, Adobe Rise

Published 11/05/2019, 08:17 AM
Updated 11/05/2019, 08:19 AM
© Reuters. - Stocks in focus in premarket trading on Tuesday:

• Uber (NYSE:UBER) stock slumped 7.1% in premarket trade by 8:20 AM ET (11:20 GMT) after the ride-sharing company failed to narrow its underlying losses significantly in the last quarter. The company said it will reach profitability on an EBITDA basis in 2021.

• Netflix (NASDAQ:NFLX) stock slipped 1.1% as the Walt Disney Company (NYSE:DIS) announced that its Disney+ streaming service will feature a permanent library, instead of rotating shows.

• Tapestry (NYSE:TPR) stock gained 1.8% after the Coach owner topped estimates due to overseas demand for its handbags.

• Shake Shack (NYSE:SHAK) stock tumbled 17.5% after it reported weak same-store sales and cut its forecast for the year, due in part to cutting its delivery partners to focus on cooperating with Grubhub (NYSE:GRUB), something that will cost it sales through other channels. Third-quarter earnings came in higher than expected.

• Adobe (NASDAQ:ADBE) stock gained 4.9% after the software company beat forecasts.

• Groupon (NASDAQ:GRPN) stock declined 8.7% after its earnings came in below forecasts due to slowing customer traffic and a drop in international sales.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.