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Peloton, Roku, Moderna, Qualcomm Fall Premarket; ConocoPhillips Rises
© Reuters
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Thursday, November 3rd. Please refresh for updates.
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Qualcomm (NASDAQ:QCOM) stock fell 8.1% after the chipmaker's forecast for holiday quarter revenue fell short of expectations, as it struggles with a slump in sales to smartphone customers.
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Peloton (NASDAQ:PTON) stock fell 16.4% after the exercise bike manufacturer forecast second quarter revenue below expectations as it struggles with weak demand for its fitness equipment.
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Roku (NASDAQ:ROKU) stock slumped 20% after the streaming platform forecast holiday quarter revenue below estimates as ad spending dries up.
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ConocoPhillips (NYSE:COP) stock rose 1.5% after the oil major reported a sharp jump in third quarter profit, and lifted its share repurchase plan to $45 billion.
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Moderna (NASDAQ:MRNA) stock slumped 12% after the drugmaker cut the annual sales forecast for its COVID-19 vaccine, citing short-term supply constraints.
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Under Armour (NYSE:UA) stock rose 5.6% after the sportswear retailer forecast growing sales in 2023 even as consumers cut back on discretionary purchases.
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Fortinet (NASDAQ:FTNT) stock fell 13% after the cybersecurity firm disappointed with its revenue growth while its billing guidance fell short of expectations.
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Qorvo (NASDAQ:QRVO) stock fell 5.4% after JPMorgan downgraded its stance on the semiconductor all the way down to 'underweight' from 'overweight', saying it could underperform its peers.
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Restaurant Brands (NYSE:QSR) stock rose 4% after the fast food holding company posted better than expected quarterly numbers, helped by sales growth at Burger King and Tim Hortons.
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