Today's Pre-Market Stock Movers: CS, JWN, DE, MANU and More
Gapping up
$Deere (DE.US)$ +4.2% (The heavy equipment maker reported better-than-expected profit and revenue for its latest quarter and issued an upbeat outlook. Deere said it benefited from positive farm fundamentals and increased infrastructure investment.)
$HP Inc (HPQ.US)$ +3.1% (The company accounced it will cut up to 10% of its 61,000-person workforce over the next three years due to an extended slump in personal computer demand. The computer maker also reported better-than-expected profit and revenue for its latest quarter.)
$Manchester United (MANU.US)$ rallied another 9.5% in the premarket, following yesterday's 14.7% jump, after the soccer club said it was considering strategic alternatives including a possible sale.
$Tesla (TSLA.US)$ +2.7% (Citi upgraded the stock to neutral from sell, citing valuation. Tesla has lost about 50% of its value this year.)
Gapping down
$Credit Suisse (CS.US)$ -4.4% (The Swiss bank warned of a $1.6 billion quarterly loss as customers pull their money from Credit Suisse on concerns about its financial health. Credit Suisse shareholders approved a $4.2 billion capital raise intended to shore up the company’s finances.)
$Guess (GES.US)$ -6.1% (The company reported weaker-than-expected quarterly earnings and a reduced outlook. The apparel company pointed to a challenging retail environment and the impact of a stronger U.S. dollar, although it said it is well-positioned for the holiday season.)
$Autodesk (ADSK.US)$ -9.8% (Autodesk matched top and bottom line estimates in its latest quarterly report, but the maker of design software issued weaker-than-expected guidance for the current quarter. Autodesk noted a challenging economic environment and said customers were more reluctant to sign longer-term contracts.)
$Nordstrom (JWN.US)$ -8.3% (Nordstrom beat top and bottom line estimates for its latest quarter, but its stock slumped 8.3% after the retailer said sales have slowed over the past few months. Nordstrom also cut its profit outlook for the fiscal year ending in January.)
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