Stocks - Guess, Walt Disney Rise in Premarket; Best Buy Falls
29 August 2019, 17: 28
Stocks in focus in premarket trading on Thursday:
• Walt Disney (NYSE:) stock rose 1.7% after a UBS survey found that 43% of households intended to subscribe to the company’s Disney+ streaming service, which is much more than the 20% to 30% Disney projected.
• Best Buy (NYSE:) stock was down 5.4% in premarket trade by 8:20 AM ET (12:20 GMT) after it lowered its guidance for the rest of the year, citing the impact of higher tariffs on imported Chinese goods.
•Abercrombie & Fitch (NYSE:) stock slumped 9.8% on soft sales, as comparable store sales growth ground to a halt and the company warned that scheduled tariff increases would hit profit margins over the rest of this fiscal year.
• Guess? (NYSE:) stock jumped 16.2% after its quarterly profit came in above forecasts due to stronger sales and improved expense management.
• Dollar General (NYSE:) stock gained 8.2% after it beat Wall Street estimates, as comparable store sales rose 4%.
• Dollar Tree (NASDAQ:) stock jumped 5.4% after the dollar store chain beat forecasts for its second-quarter revenue and same store sales.