Salesforce, Ulta Beauty Rise Premarket; HP Falls

Stock Markets1 hour ago (May 28, 2021 08:04AM ET)

(C) Reuters.

By Peter Nurse

Investing.com — Stocks in focus in premarket trade on Friday, May 28th. Please refresh for updates.

Salesforce (NYSE:CRM) stock rose 5.2% after the software company raised its full-year forecasts, following increased demand for its cloud-based software due to a pandemic-led shift to remote work.

HP (NYSE:HPQ) stock fell 6.1% after the computer giant warned the ongoing computer chip shortage could impact its ability to meet demand for laptops this year, even as it reported better-than-expected second-quarter results.

Johnson & Johnson (NYSE:JNJ) stock rose 0.6% after Morgan Stanley (NYSE:MS) awarded the drugmaker an ‘overweight’ rating, citing a relatively cheap valuation given its diversified growth.

AMC Entertainment (NYSE:AMC) stock rose 12%, following a 35% gain the previous session as traders kept piling into the speculative name. The movie theater chain has replaced GameStop (NYSE:GME) to become the most popular stock in the infamous WallStreetBets Reddit forum.

Tesla (NASDAQ:TSLA) stock fell 0.4% after Consumer Reports and IIHS removed their top safety endorsements after the electric car manufacturer’s move from radar to vision-based driver assistance systems.

Boeing (NYSE:BA) stock fell 1.4% after the Wall Street Journal reported that the aircraft manufacturer has halted deliveries of its 787 Dreamliners, adding fresh delays for customers following a recent five-month delivery suspension due to production problems.

Ulta Beauty (NASDAQ:ULTA) stock rose 5.4% after the beauty store chain reported stellar first-quarter earnings and lifted its full-year sales guidance as cosmetic sales rose as the pandemic lessened.

Hibbett Sports (NASDAQ:HIBB) stock rose 7.4% after the sporting goods retailer reported healthy quarterly earnings, with same-store sales soaring over 87%, and raised its full-year forecast in anticipation of strong pent-up demand.

Gap (NYSE:GPS) stock rose 0.9% after the clothes retailer reported a surprise quarterly profit and issued an upbeat forecast as the easing pandemic prompted strong sales in activewear and dresses.

Costco (NASDAQ:COST) stock fell 0.7% after the warehouse retailer warned of increasing costs for products and worker salaries, even as its quarterly revenue beat forecasts.

Salesforce, Ulta Beauty Rise Premarket; HP Falls

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