© Reuters.
By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Tuesday, August 30th. Please refresh for updates.
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Best Buy (NYSE:) stock rose 3.4% after the retailer reported a smaller-than-expected drop in quarterly comparable sales as steep discounts helped soften the blow from soaring inflation.
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Twitter (NYSE:) stock fell 1.5% after billionaire Elon Musk sent an additional letter of deal termination to the social media giant following his subpoenaing a whistleblower seeking documents on how it measures spam accounts.
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Bed Bath & Beyond (NASDAQ:) stock rose over 12% ahead of the release of the troubled retailer’s turnaround strategy on Wednesday as it struggles with slowing sales.
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Baidu (NASDAQ:) stock rose 3.9% after the Chinese search engine giant beat quarterly estimates, underpinned by growth in its cloud business, even as it reported its first year-on-year quarterly revenue contraction in two years.
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Exxon Mobil (NYSE:) stock fell 0.3% after the Wall Street Journal reported that the oil giant told Russia it will sue unless Moscow allows the company to exit its biggest remaining project in the country, Sakhalin-1.
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Corning (NYSE:) stock rose 0.8% after the company announced plans to build a new optical cable manufacturing plant in Arizona as the U.S. government moves to expand broadband to millions of unserved Americans.
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American Outdoor Brands (NASDAQ:) stock rose 8.1% after B. Riley upgraded its stance on the manufacturer of outdoor equipment to ‘buy’ from ‘neutral’, seeing 40% potential upside.
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