FinanceDeere, HP, Nordstrom and others

Deere, HP, Nordstrom and others

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News Update – Pre-Markets

Take a look at the businesses making headlines earlier than the bell:

Deere (DE) – The heavy tools maker reported better-than-expected revenue and income for its newest quarter and issued an upbeat outlook. Deere mentioned it benefited from constructive farm fundamentals and elevated infrastructure funding. Its inventory jumped 4.2% in premarket buying and selling.

HP Inc. (HPQ) – HP rose 3.1% within the premarket after asserting it is going to reduce as much as 10% of its 61,000-person workforce over the subsequent three years as a result of an prolonged stoop in private pc demand. The pc maker additionally reported better-than-expected revenue and income for its newest quarter.

Nordstrom (JWN) – Nordstrom beat high and backside line estimates for its newest quarter, however its inventory slumped 8.3% after the retailer mentioned gross sales have slowed over the previous few months. Nordstrom additionally reduce its revenue outlook for the fiscal yr ending in January.

Manchester United (MANU) – Manchester United rallied one other 9.5% within the premarket, following yesterday’s 14.7% bounce, after the soccer membership mentioned it was contemplating strategic alternate options together with a doable sale.

Autodesk (ADSK) – Autodesk matched high and backside line estimates in its newest quarterly report, however the maker of design software program issued weaker-than-expected steerage for the present quarter. Autodesk famous a difficult financial atmosphere and mentioned clients had been extra reluctant to signal longer-term contracts. The inventory tumbled 9.8% in premarket buying and selling.

Guess (GES) – Guess misplaced 6.1% within the premarket after reporting weaker-than-expected quarterly earnings and a diminished outlook. The attire firm pointed to a difficult retail atmosphere and the impression of a stronger U.S. greenback, though it mentioned it’s well-positioned for the vacation season.

Credit score Suisse (CS) – The Swiss financial institution’s inventory fell 4.4% in premarket motion after it warned of a $1.6 billion quarterly loss as clients pull their cash from Credit score Suisse on issues about its monetary well being. Credit score Suisse shareholders permitted a $4.2 billion capital increase supposed to shore up the corporate’s funds.

Tesla (TSLA) – Tesla added 2.7% within the premarket after Citi upgraded the inventory to impartial from promote, citing valuation. Tesla has misplaced about 50% of its worth this yr.

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