By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Thursday, August 25th. Please refresh for updates.
NVIDIA (NASDAQ:NVDA) stock fell 3.5% after the chip giant’s financial results for the three months revealed a 19% quarter-on-quarter drop in revenue due largely to the slowdown in demand for gaming chips.
Salesforce (NYSE:CRM) stock fell 6.9% after the cloud-based software company cut its annual revenue and profit forecasts, citing "measured" spending from clients and a hit from a stronger dollar.
Snowflake (NYSE:SNOW) stock soared 19% after the cloud computing firm beat revenue expectations in its quarterly results.
Abercrombie & Fitch (NYSE:ANF) stock fell 14% after the clothes retailer missed expectations for quarterly sales, underscoring increasing competition for consumer dollars amid surging inflation.
Peloton (NASDAQ:PTON) stock slumped 15% after the exercise bike manufacturer reported a bigger net loss for the fourth quarter as costs soared from efforts to restructure its business hit by low demand for its fitness equipment.
Amazon (NASDAQ:AMZN) stock rose 1.2% after the retail giant decided to shut down its telehealth service, Amazon Care, marking a major retreat in its efforts to break into the health care space.
Tesla (NASDAQ:TSLA) stock rose 2.1% after the electric car manufacturer split its stock for the second time in as many years to woo more retail investors.