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Merck, Box Rise Premarket; Salesforce Falls

Investing.com
·2-min read

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Wednesday, December 1st. Please refresh for updates.

Salesforce (NYSE:CRM) stock fell 6.5% after the software company provided disappointing current-quarter profit guidance in the face of stiff competition from rivals including Microsoft (NASDAQ:MSFT).

Merck (NYSE:MRK) stock rose 0.8% after a panel of advisers to the U.S. Food and Drug Administration voted to recommend the agency authorize the drugmaker's antiviral pill to treat Covid-19.

Box (NYSE:BOX) stock rose 9.3% after the software company beat quarterly expectations on both the top and bottom lines, helped by its performance in the Content Cloud market.

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American Airlines (NASDAQ:AAL) stock rose 1.6%, Delta (NYSE:DAL) stock rose 2.2% and United (NASDAQ:UAL) stock rose 1.8% as the airlines rebounded, while cruise operators Norwegian Cruise Line (NYSE:NCLH), Carnival (NYSE:CUK) and Royal Caribbean (NYSE:RCL) all rose more than 2.5%.

Exxon Mobil (NYSE:XOM) stock rose 1.9%, Chevron (NYSE:CVX) stock climbed 2% and Occidental Petroleum (NYSE:OXY) stock rose 3.9% as crude prices soared more than 4%.

Allbirds (NASDAQ:BIRD) stock fell 4.7% after the shoe retailer reported a wider loss despite a 33% jump in quarterly sales.

Hewlett Packard Enterprise (NYSE:HPE) stock fell 1.4% after the information technology company topped profit expectations for its fiscal fourth-quarter earnings but issued first quarter earnings guidance that looked light.

Ambarella (NASDAQ:AMBA) stock rose 15% after the semiconductor maker released a better-than-expected quarterly report, helped by strong sales of its computer-vision chips.

Lennar (NYSE:LEN) stock rose 3.8% after Goldman Sachs upgraded its investment stance on the real estate company to ‘buy’ from ‘neutral’, seeing 33% upside, thanks to sustained strong demand for new homes in the U.S.

DR Horton (NYSE:DHI) stock fell 0.1% after Goldman downgraded its stance on the home construction company to ‘neutral’ from ‘buy’, saying upside in this stock is now limited.

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