GameStop, Zscaler, Urban Outfitters, Nordstrom: What to Watch | Sidnaz Blog

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Here’s what we’re watching ahead of Wednesday’s opening bell.

What’s Coming Up
Market Movers to Watch
  • Urban Outfitters

    URBN 0.69%

    jumped 12% premarket. The retailer reported a profit for its latest quarter as the shopping landscape continued to normalize.

An Urban Outfitters retail store in New York, Aug. 16, 2020.


Richard B. Levine/Zuma Press

  • Zscaler

    ZS -0.95%

    shares also jumped 12% premarket. The cloud-based security platform said revenue grew and its profit, after adjustments, climbed during its latest quarter.

  • Dick’s Sporting Goods

    DKS -1.20%

    advanced 8.8% premarket. The retailer said sales and profits rebounded from the pandemic in its latest quarter as consumers snapped up items used everywhere from golf courses to youth-sport leagues.

  • Abercrombie & Fitch

    ANF 1.09%

    shares climbed 7.7% premarket. The clothing retailer said it had its best first-quarter operating income since 2008.

  • Meme stocks pushed higher in premarket trading, with


    GME 16.34%

    adding more than 11% and

    AMC Entertainment

    AMC 19.96%

    up 9%. A new page advertising GameStop NFTs recently appeared on the videogame retailer’s website, stoking speculation that GameStop may be building digital products that users could own.

  • Nordstrom

    JWN -2.85%

    shares dropped 6.1% premarket. The department-store company narrowed its first quarter loss, with better-than-expected sales in the first quarter.

  • Toll Brothers

    TOL 2.38%

    shares gained 1.1% premarket. The luxury homebuilder’s sales rose in the fiscal second quarter, lifting its bottom line, as low mortgage rates and low housing supply continued to boost home-buying trends.

  • Intuit

    INTU -0.32%

    shares rose 1.4% ahead of the bell. The TurboTax, QuickBooks and Mint parent raised its full-year financial projections, as the company sees strong demand for its products and services.

Market Facts
  • The cost of softwood lumber, which is often used for framing, is now at a record, up over 83% from this time last year, according to CoStar Advisory Services. Overall, lumber and wood prices are also at record levels, up 34% from one year ago, CoStar said.
  • China’s yuan has strengthened to a near-three-year high, boosted by a falling dollar despite attempts by the central bank to keep the currency in check. On Tuesday, the offshore yuan strengthened below 6.4 per dollar.
  • On this day in 1667, mathematician Abraham de Moivre was born in Vitry, France. In 1688, he fled to England to escape King Louis XIV’s persecution of the Huguenots. In London, de Moivre discovered the normal statistical distribution (the “bell curve”) and worked out the formula for standard deviation, or short-term volatility. 
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