Investment Learning

Best Buy, Kohl's and General Motors fall premarket; Dick's Sporting Goods rises

  • November 26, 2024

US stock futures steadied Tuesday, with investors reluctant to chase the market too much higher after Donald Trump’s threatened a global trade war once he gets into office.

Here are some of the biggest premarket US stock movers today:

  • Kohl’s (NYSE: KSS ) stock slumped 12% after the retailer cut its annual sales forecast for the third time this year, in a sign the department-store chain is struggling to draw in shoppers ahead of a deal-heavy holiday shopping season.

  • Best Buy (NYSE: BBY ) stock fell 7.4% after the electronics retailer cut its full-year sales forecast as it missed quarterly revenue expectations due to softer demand.

  • Dick’s Sporting Goods (NYSE: DKS ) stock rose 6.4% after the retailer raised its full-year guidance after what CEO Lauren Hobart called an "excellent" back-to-school shopping season and better-than-expected comparable sales for its third quarter.

  • Ford (NYSE: F ) stock fell 1.8% and General Motors (NYSE: GM ) stock dropped 3.8% as investors shunned the auto giants in the wake of Trump’s tariff comments as they have highly integrated supply chains across Mexico, the US and Canada.

  • Novo Nordisk (NYSE: NVO ) stock rose 2.2%, with the weight-loss drug maker benefitting from President Joe Biden proposing expanding coverage of anti-obesity drugs for millions on Medicare and Medicaid.

  • Burlington Stores (NYSE: BURL ) stock fell 5.4% after the department store retailer’s fourth-quarter forecast for earnings and comparable sales growth missed expectations.

  • Rumble (NASDAQ: RUM ) stock rose 3% after the video platform said it will begin allocating a portion of its excess cash reserves to bitcoin, making purchases of up to $20 million in the cryptocurrency.

  • Intel (NASDAQ: INTC ) stock rose 1.2% after the US Commerce Department said it was finalizing a $7.86 billion government subsidy for the tech giant, down from the $8.5 billion announced in March after the California-based chips maker won a separate $3 billion award from the Pentagon.

  • Poseida Therapeutics (NASDAQ: PSTX ) stock soared over 200% after Switzerland's Roche said it will acquire the cell therapy maker in a cash deal worth up to $1.5 billion.

  • Analog Devices (NASDAQ: ADI ) stock rose 5.6% after the semiconductor reported a profit for the fourth quarter that decreased from the same period last year but beat the Street estimates.