Target, JM Smucker, Robinhood Fall Premarket; Kohls, Novavax Rise By Investing.com

By Peter Nurse

Investing.com — Stocks in focus in premarket trade on Tuesday, June 7th. Please refresh for updates.

• Target (NYSE:) stock fell 9.3% after the announced its second profit warning in only three weeks, admitting that it needs to cut down a mountain of unsold inventory.

• Kohls (NYSE:) stock soared 9.1% after the department store chain announced it was in exclusive negotiations with retail store operator Franchise Group (NASDAQ:) over a potential deal, valuing it at nearly $8 billion.

• Novavax (NASDAQ:) stock rose 3.7% with the U.S. Food and Drug Administration set to consider whether to recommend the drugmaker’s COVID-19 vaccine for adults, amid hopes it can become the shot of choice among some American vaccine skeptics.

• JM Smucker (NYSE:) stock fell 1% after the food producer cut its full-year forecast on the back of a recall of its Jif peanut butter product, adding inflation and supply chain issues will create uncertainty going forward.

• Twitter (NYSE:) stock fell 1.5%, continuing to weaken after Elon Musk warned that he might walk away from his $44 billion deal to acquire the social media company if it fails to provide the data on spam and fake accounts that he seeks.

• Affirm (NASDAQ:) stock fell 3.7%, adding to Monday’s 5.5% loss, after Apple (NASDAQ:), down 1.4%, announced plans to enter the Buy Now Pay Later business, threatening serious competition.

• Robinhood (NASDAQ:) stock fell 2.4% after the Wall Street Journal reported that the is drawing up plans that would force more competition for executing investors’ orders, hitting the business model espoused by the broker-dealer.

• Exxon Mobil (NYSE:) stock rose 0.8% after Evercore ISI upgraded its stance on the oil major to ‘outperform’ from ‘in line’, saying it looks cheap even after surging more than 60% this year.