Written by Brenda Nakalema

Stock Market Movers On 2nd September

With all the stock market action seen so far, here are the stock market movers this week. Stock futures registered …

With all the stock market action seen so far, here are the stock market movers this week. Stock futures registered lower numbers this Friday in anticipation of the U.S jobs report for August, which might give investors a clearer indication of how aggressive the Federal Reserve will be in its battle against inflation. Futures for the Dow Jones Industrial Average fell 0.6%, S&P 500 futures declined 0.1%, and futures for the tech-heavy Nasdaq Composite were short 0.3%.

Here are the stocks making notable moves this Friday;

Lululemon Athletica (ticker: LULU) skyrocketed 9.6% Friday following the athletic apparel company’s better-than-expected earnings. The company earning’s report beat both earnings and revenue estimates set for the second quarter and followed up with strong financial guidance.

Bed Bath & Beyond (ticker: BBBY) ended Thursday’s session with an 8.6% decline and dropped another 6.2% early Friday. The company’s stock was downgraded to Underperform from Market perform on Thursday, with an analyst from Raymond James claiming that “underlying business trends” at the company “remain abysmal.”
Early in the week, the company announced its decision to cut down roughly 20% of its workforce and close about 150 stores.

PagerDuty (ticker: PD) gained 7.9% on Friday. The incident management software provider reported great revenue and a slower loss margin for its second quarter than analysts expected. It also issued strong guidance.

NCino (ticker: NCNO) reported better sales and a narrower loss for its second quarter. The stock gained roughly 3.9%.

Broadcom (ticker: AVGO) gained 1.9% after the company reported solid earnings for its fiscal third quarter and a better-than-expected outlook for its October quarter.

Dow Inc (ticker: DOW) declined 1.6% lower on Friday following its stock downgrade by a J.P Morgan analyst to Neutral from Overweight.


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