By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Thursday, March 2nd. Please refresh for updates.
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Macy’s (NYSE:M) stock rose over 6% after the department store chain reported better-than-expected fourth quarter results and offered upbeat profit guidance.
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Salesforce (NYSE:CRM) stock rose over 15% after the workplace software group reported better-than-expected fourth quarter results and guidance, with CEO Marc Benioff aiming to boost profits to fend off pressure from a host of activist investors.
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Silvergate Capital (NYSE:SI) stock slumped 38.43% after the lender, which specializes in cryptocurrencies, warned it may not survive as a going concern as the crypto rout wipes out its capital and leaves it struggling to repay maturing loans.
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Tesla (NASDAQ:TSLA) stock fell 8.15% after an investor day event during which Chief Executive Elon Musk provided few details on when it will unveil a much awaited affordable electric vehicle.
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Okta (NASDAQ:OKTA) stock soared 15% after the identity software company reported better than expected quarterly results and upbeat guidance, as security-related applications see demand.
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Nio (NYSE:NIO) ADRs fell 3.8% after JPMorgan downgraded its stance on the Chinese electric vehicle manufacturer to 'neutral' from 'overweight', saying it will become increasingly difficult for the company to deliver on high expectations.
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Polestar (NASDAQ:PSNY) stock rose 4.1% after the electric vehicle maker posted a smaller quarterly loss, maintained its 2023 production outlook and said it would not engage in price wars.
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Best Buy (NYSE:BBY) stock fell 2.8% after the electronics retailer issued a cautious forecast for annual earnings, citing the uncertain U.S. economic outlook.
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Box (NYSE:BOX) stock fell 10.66% after the cloud storage company beat quarterly earnings and revenue expectations but offered weak guidance for the first quarter.