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The Stock MarketRobinhood, Coinbase, Roku, Nike and more

Robinhood, Coinbase, Roku, Nike and more

Check out the businesses making headlines earlier than the bell:

Robinhood (HOOD), Coinbase (COIN) — Shares of the retail buying and selling app and cryptocurrency alternate fell in premarket buying and selling after China signaled that it was intensifying its crackdown on crypto. The nation’s central financial institution mentioned Friday that every one cryptocurrency-related actions are unlawful. Shares of Coinbase fell more than 3.6% whereas Robinhood dropped 2%.

Roku (ROKU) — Shares of the streaming video platform fell in premarket buying and selling after Wells Fargo downgraded Roku to equal weight from obese. The funding agency mentioned in a notice that Wall Street expectations for Roku’s income progress are possible too excessive as competitors will increase. Shares of Roku have been down 2.3%.

Nike (NKE) — The attire large’s inventory was beneath stress on Friday after Nike reduce its income forecasts because of provide chain points. The firm mentioned it expects full-year gross sales progress within the mid-single digits for the 2022 fiscal yr, down from a earlier forecast of low double-digit progress. Shares of Nike fell more than 4% in premarket buying and selling.

Under Armour (UAA) — The athletic attire retailer’s inventory fell in premarket buying and selling after rival Nike reduce its steerage. Shares of Under Armour have been down more than 2% in premarket buying and selling.

Costco (COST) — The retailer beat expectations on the highest and backside traces in its fiscal fourth-quarter report on Thursday afternoon. The firm reported $3.90 in adjusted earnings per share, simply topping expectations of $3.57, and web gross sales for the quarter rose more than 17% yr over yr. The inventory was barely greater in premarket buying and selling.

Merck (MRK) — The pharmaceutical large, together with AstraZeneca, introduced on Friday morning {that a} therapy utilizing the drug Lynparza slowed the development of prostate most cancers in a section three trial. Shares of Merck rose more than 1% in premarket buying and selling.

Cheesecake Factory (CAKE), Dave & Buster’s (PLAY) — The restaurant shares rose barely in premarket buying and selling after Jefferies upgraded the shares to purchase from maintain. The agency mentioned that full-service eating places have seen visitors maintain up effectively regardless of the unfold of the delta variant.

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