Apple, Tesla and Nvidia Fall Premarket By

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© Reuters.

By Peter Nurse — Stocks in focus in premarket trade on Friday, September 4th. Please refresh for updates.

  • Apple (NASDAQ:) stock fell 2.6%, continuing to weaken after Thursday’s 8% fall which resulted in its market value dropping $180 billion. That’s the equivalent of the combined market cap of 470 of the S&P 500 companies.

  • Tesla (NASDAQ:) stock fell 5.3%, extending its fall after dropping 9% on Thursday. The shares are more than 18% below Monday’s close, a day when the stock surged following its split.

  • Nvidia (NASDAQ:) stock fell 4.7% after dropping 9% on Thursday as the tech sector went into freefall. The stock is still up over 120% year to date. 

  • DocuSign (NASDAQ:) stock slumped 5.9% despite the cloud-based document manager posting stronger than expected second-quarter earnings, with the majority of the company’s revenue coming from subscriptions. The company’s stock is still over 220% higher year-to-date.

  • Domo (NASDAQ:) stock rose 6.1% after the cloud software company beat expectations after the release of second-quarter results, despite reporting a loss of 37 cents per share. 

  • Johnson & Johnson (NYSE:) rose 0.7% after the company announced late Thursday that its potential coronavirus vaccine prevented severe illness in a small group of hamsters.

  • Smith & Wesson (NASDAQ:) stock rose 3.1% after quarterly firearm revenues more than doubled, reflecting a boom in U.S. gun sales during the pandemic and civil unrest.

  • Yum China (NYSE:) stock fell 3.4% after the fast food chain said it would raise over $2 billion in its Hong Kong listing amid lukewarm demand.

  • Broadcom (NASDAQ:) stock fell 0.1% despite the semiconductor and software company’s quarterly results beating expectations. Still, the Apple supplier said that a ramp-up of annual chip shipments would be later this year than most.

  • Cooper Companies (NYSE:) stock rose 3.3% after the global medical device company beat expectations on both earnings and revenue for its fiscal third quarter, adding that  its businesses improved through the quarter and the momentum continued in August.
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