Tiffany and Slack dropped at the premarket

Tiffany and Slack dropped at the premarket

Tiffany and Slack dropped at the premarket – Stocks (Tesla is up 6.8%, recovering from its biggest 21% drop on Tuesday, the company's shares remain nearly 300% higher than at the start of the year.

Apple shares gained 2.9%, also recovering from their recent sharp drop. The tech giant has filed a counterclaim against Epic Games, the maker of the Fortnite game, for lost royalties and other damages. Epic is suing Apple for removing Fortnite from the App Store in a dispute over fees charged by Apple.

Slack Technologies shares fell 16%, despite the messaging app reporting better-than-expected Q2 results. Account growth, a key indicator of future earnings, slowed over the quarter.

Tiffany shares fell 9.7% after LVMH said it would not be able to complete the $ 16 billion takeover of the American luxury goods retailer, which it announced earlier. Tiffany filed a lawsuit claiming LVMH was in breach of its obligations.

AstraZeneca shares fell 1.9% after the pharmaceutical giant said it had suspended global trials of its experimental coronavirus vaccine due to an unexplained illness in one of the participants.

Northrop Grumman rose 1.3% after the military-industrial company announced that the US Air Force was awarded a $ 13.3 billion contract to modernize the American ICBM system.

Lululemon Athletica plunged 4.8% as the sportswear company surpassed Wall Street's quarterly results, but the company's failure to provide an outlook alarmed analysts.

Under Armor shares fell 1.3% after the sportswear maker said Tuesday that it will lay off about 600 employees worldwide, expecting a cost of about $ 235 million.

Lyft shares were down 1% after reporting a 7.3% increase in taxi hires in August from a month earlier. But this is still 53% lower than a year earlier.

Netflix shares rose 2.2% after the company announced a fundamental change in management, putting Bela Bajariya in charge of global production of the company's original series.

Written by Peter Nurse

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