Robinhood, Coinbase, Roku, Nike and more

Take a look at the businesses making headlines earlier than the bell:

Robinhood (HOOD), Coinbase (COIN) — Shares of the retail buying and selling app and cryptocurrency alternate fell in premarket buying and selling after China signaled that it was intensifying its crackdown on crypto. The country’s central bank said Friday that all cryptocurrency-related activities are illegal. Shares of Coinbase fell greater than 3.6% whereas Robinhood dropped 2%.

Roku (ROKU) — Shares of the streaming video platform fell in premarket buying and selling after Wells Fargo downgraded Roku to equal weight from overweight. The funding agency stated in a be aware that Wall Avenue expectations for Roku’s income progress are doubtless too excessive as competitors will increase. Shares of Roku have been down 2.3%.

Nike (NKE) — The attire large’s inventory was underneath stress on Friday after Nike cut its revenue forecasts due to supply chain issues. The corporate stated it expects full-year gross sales progress within the mid-single digits for the 2022 fiscal 12 months, down from a earlier forecast of low double-digit progress. Shares of Nike fell greater than 4% in premarket buying and selling.

Under Armour (UAA) — The athletic attire retailer’s inventory fell in premarket buying and selling after rival Nike minimize its steerage. Shares of Beneath Armour have been down greater than 2% in premarket buying and selling.

Costco (COST) — The retailer beat expectations on the highest and backside traces in its fiscal fourth-quarter report on Thursday afternoon. The corporate reported $3.90 in adjusted earnings per share, simply topping expectations of $3.57, and internet gross sales for the quarter rose greater than 17% 12 months over 12 months. The inventory was barely greater in premarket buying and selling.

Merck (MRK) — The pharmaceutical large, together with AstraZeneca, introduced on Friday morning {that a} remedy utilizing the drug Lynparza slowed the development of prostate most cancers in a section three trial. Shares of Merck rose greater than 1% in premarket buying and selling.

Cheesecake Factory (CAKE), Dave & Buster’s (PLAY) — The restaurant shares rose barely in premarket buying and selling after Jefferies upgraded the shares to purchase from maintain. The agency stated that full-service eating places have seen visitors maintain up effectively regardless of the unfold of the delta variant.

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