By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Tuesday, September 1st. Please refresh for updates.
Zoom Video Communications (NASDAQ:ZM) stock rose 30% after the popular videoconferencing app saw its revenues soar with its second quarter profits more than doubling as the coronavirus crisis caused many people to work from home.
Eastman Kodak (NYSE:KODK) stock jumped 43% after hedge fund D.E Shaw disclosed a 5.2% stake in the company. This stock has been highly volatile in recent weeks after initially being granted a federal loan to produce drug ingredients, before the loan was put on hold.
Tesla (NASDAQ:TSLA) stock climbed 2.4%, despite plans to raise up to $5 billion through a share offering, continuing the recent positive momentum after the electric car manufacturer announced a 5-for-1 stock split, which took effect on Monday.
Apple (NASDAQ:AAPL) stock climbed 2.3% after Bloomberg reported that the company is preparing to make 75 million iPhones in its big round of launches in October.
Walmart (NYSE:WMT) stock rose 2.8% after the retail giant unveiled the perks of its new membership program, Walmart Plus, to be launched on Sept. 15. These include unlimited free delivery, fuel discounts and no checkout lines.
McDonald’s (NYSE:MCD) stock fell 0.4% after 52 black former franchise owners launched a lawsuit, seeking up to $1 billion of damages after accusing the fast-food giant of racial discrimination.
Ford (NYSE:F) stock fell 0.2% after announcing plans to cut about 1,000 jobs in North America as part of an $11 billion global restructuring begun two years ago as it projects an operating loss this year.
AstraZeneca (NYSE:AZN) ADR rose 0.1% after the U.K.-based pharmaceutical said it has begun enrolling adults for a U.S.-funded, 30,000-subject late-stage study of its high profile Covid-19 vaccine candidate.