Zoom, Kohls Rise Premarket; Novavax Falls

By Peter Nurse

Investing.com — Stocks in focus in premarket trade on Tuesday, March 2nd. Please refresh for updates.

• Zoom Video Communications (NASDAQ:ZM) stock rose 6.9% after the video communications company posted blowout fourth-quarter results that markedly beat consensus estimates as the work-from-home trend bolstered demand for its service.

• Target (NYSE:TGT) stock rose 0.2% after the retail giant beat estimates for holiday quarter sales, powered by the company’s same-day delivery and store pick-up services.

• Kohls (NYSE:KSS) stock rose 1.1% after the retailer reported strong fourth-quarter earnings and sales, pointed to stronger growth in 2021 and decided to reinstate its dividend and buy back shares.

• Roku (NASDAQ:ROKU) stock rose 1.5% after the streaming platform announced it’s acquiring Nielsen’s Advanced Video Advertising unit, attempting to become a central hub for TV advertising.

• Novavax (NASDAQ:NVAX) stock fell 4.5% after the vaccine developer reported weaker-than-expected fourth-quarter results. However, CEO Stanley Erck said the company expects approval for its Covid-19 vaccine as early as May.

• Nike (NYSE:NKE) stock rose 0.1% after the sports apparel company announced the departure of its North American business general manager Ann Hebert, following a report that her son used a credit card in her name to purchase sneakers for his resale company.

• Nio (NYSE:NIO) ADR fell 5.3% after the Chinese electric car manufacturer posted a wider-than-expected loss and flagged a slowing pace of deliveries for its electric vehicles in the current quarter.

• Lemonade (NYSE:LMND) stock fell 6.5% after the insurer provided a disappointing outlook for the current quarter. The company also reported a fourth-quarter loss of $33.9 million.

• TripAdvisor (NASDAQ:TRIP) stock rose 4.7% after banking giant Citigroup (NYSE:C) upgraded its investment stance to ‘buy’ from ‘neutral’.

• Beyond Meat (NASDAQ:BYND) stock rose 1.3% after Citigroup upgraded its stance to ‘buy’ from ‘neutral’, saying the recent negative sales and cost issues that impacted the most recent quarter were temporary.