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Gap Rises Premarket; Costco and Norwegian Cruise Line Fall




imageStock Markets1 hour ago (Mar 05, 2021 08:02AM ET)

(C) Reuters.

By Peter Nurse

Investing.com — Stocks in focus in premarket trade on Friday, March 5th. Please refresh for updates.

  • Costco (NASDAQ:COST) stock fell 1.3% after the wholesale retailer missed second-quarter profit estimates due to millions of dollars of increased costs arising from the pandemic. The company has also decided to raise the minimum wage for its hourly staff to $16, above what its main rivals pay.

  • Norwegian Cruise Line (NYSE:NCLH) stock fell 7.3% after the company announced a public stock offering of over 47 million shares.

  • Exxon Mobil (NYSE:XOM) stock rose 2.2% and Chevron (NYSE:CVX) stock rose 1.9% after OPEC decided against increasing supply to the global market, boosting the price of crude to the benefit of these oil majors.

  • Boeing (NYSE:BA) stock rose 0.5% after Bloomberg reported that the aircraft manufacturer has approached a group of banks for a new $4 billion revolving credit facility as it battles a prolonged slowdown in commercial air travel due to the pandemic.

  • Gap (NYSE:GPS) stock rose 4.4% after the clothes retailer forecast a return to sales growth this year, expecting sales at its Athleta brand to double in the next two years as the pandemic ends.

  • CoStar (NASDAQ:CSGP) stock rose 5.5% after the commercial property information company withdrew its bid for Corelogic (NYSE:CLGX), down 3.8%, citing rising interest rates.

  • Imax (NYSE:IMAX) stock fell 8% after the company posted a loss in the last quarter, despite healthy box office sales in China and Japan and an upbeat outlook.

  • Virgin Galactic (NYSE:SPCE) stock fell 4.5% after the spaceflight company’s chairman, Chamath Palihapitya, sold his personal holdings of 6.2 million shares for about $213 million, according to a SEC filing.

  • Broadcom (NASDAQ:AVGO) stock rose 0.7% after the company beat profit expectations, although it reported chip sales slightly below estimates, joining a growing list of chip industry peers hit by the global semiconductor shortage.

Gap Rises Premarket; Costco and Norwegian Cruise Line Fall

Main Volkswagen brand speeds up shift to electric

Main Volkswagen brand speeds up shift to electric
By Reuters – Mar 05, 2021

By Christoph Steitz and Jan Schwartz FRANKFURT (Reuters) – Volkswagen (DE:VOWG_p) wants electric vehicles to make up the majority of European sales for its core brand by 2030, it…

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