By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Thursday, September 10th. Please refresh for updates.
JPMorgan (NYSE:JPM) stock rose 0.1% after the Financial Times reported that the investment bank fired several employees who allegedly misused funds that were supposed to help businesses dealing with the Covid-19 pandemic.
Tesla (NASDAQ:TSLA) stock rose 4.9%, continuing Wednesday’s rebound which saw the stock gain nearly 11%. The stock has been very volatile of late, shedding 21% on Tuesday, but is still up 337% year-to-date.
RH (NYSE:RH) stock soared 17% after the upscale home-furnishings company beat expectations with its second-quarter earnings, saying its sales have been building month by month.
Kansas City Southern (NYSE:KSU) stock dropped 0.4% after the Wall Street Journal reported that the railroad operator has rejected a roughly $20 billion takeover offer from a group of investors, saying the bid undervalues it.
GameStop (NYSE:GME) stock fell 10% after the troubled retailer reported a wider than expected loss for its fiscal second quarter, with sales dropping by 27%.
Zscaler (NASDAQ:ZS) stock fell 2.2% after beating expectations with its quarterly results, though its earnings per share and operating margin declined compared with the same quarter last year.
AstraZeneca (NYSE:AZN) ADR rose 1.2% after the pharma giant said it should know before the end of the year whether its vaccine would protect people from the virus, if it’s allowed to resume trials which were paused this week.
Tiffany (NYSE:TIF) stock fell 0.1% after former suitor LVMH (OTC:LVMUY) announced plans to countersue the U.S. jeweler "as a result of its crisis mismanagement." The news came a day after the luxury-goods giant said it was backing out of its $16 billion takeover deal for the company.
Virtusa (NASDAQ:VRTU) stock soared 23% after the IT services company agreed to be bought by investment firm Baring Private Equity Asia for $2 billion in cash.
Yum China (NYSE:YUMC) stock fell 4.3% after its first day of trading in Hong Kong. The restaurant operator had raised over $2 billion in the new listing.
- Nikola (NASDAQ:NKLA) stock fell 3.5% after Hindenburg Research said it was shorting the company's shares, making allegations of fraud concerning its founder and executive chairman Trevor Milton.
- Citigroup (NYSE:C) stock rose 0.4% after announcing that Chief Executive Officer Michael Corbat will step down in February, after 37 years with the bank. Citi president Jane Fraser will succeed Corbat.