Stocks - Red Hat Sinks in Pre-market; Alibaba, Amazon, Darden Restaurants Rise

Investing.com

September 20, 2018 at 11:28 a.m.

Investing.com - Stocks in focus in pre-market trade Thursday:

• Red Hat (NYSE:RHT) stock slumped 5.91% by 8:08 AM ET (12:08 GMT) as the company reported quarterly sales that missed estimates and provided a weak third-quarter guidance.

• Alibaba (NYSE:BABA) stock rose 1.99% as co-founder Jack Ma stepped away from his promise to create 1 million U.S. jobs, saying it was an impossible feat due to the trade war between the world’s two largest economies.

• Amazon.com (NASDAQ:AMZN) stock gained 0.39% as Bloomberg reported that the company was considering opening as many as 3,000 of its new cashierless stores AmazonGo over the next few years.

• Fox (NASDAQ:FOX) stock and Comcast (NASDAQ:CMCSA) stock may see some movement during the regular session as the UK Takeover Panel said they would enter a three-round auction on Saturday to decide who would acquire the British broadcaster Sky (OTC:SKYAY).

• Darden Restaurants (NYSE:DRI) stock jumped 4.33% after reporting better-than-expected quarterly results and raising its full-year guidance.

• Thor Industries (NYSE:THO) sank 11.02% as quarterly earnings per share missed consensus.

• Herman Miller (NASDAQ:MLHR) surged 8.70% as the company’s quarterly results beat expectations.

• Cronos Group (NASDAQ:CRON) stock jumped 3.94% after the company announced that it had partnered up with Aleafia Health to begin a study on the usage of medical cannabis to improve the management and treatment of insomnia and daytime sleepiness.

• Adverum Biotechnologies Inc (NASDAQ:ADVM) soared 7.52% after the company announced that the U.S. Food and Drug Administration granted a “Fast Track designation” to one of its treatments for wet age-related macular degeneration.

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