Investing.com – Stocks in focus in premarket trading on Tuesday:
• Best Buy (NYSE:) stock jumped 4.6% in premarket trade by 8:20 AM ET (13:20 GMT) after its revenue beat estimates due to a rise in same-store sales. The electronics retailer also raised its full-year forecast ahead of the busy holiday season, which kicks off this Friday.
• Dollar Tree (NASDAQ:) stock slumped 13% after underlying third-quarter profit was lower than expected and the company warned that the last quarter of the year will also be weak due to the impact of tariffs on Chinese imports.
• Palo Alto Networks (NYSE:) stock fell 7.8% after it announced its eighth acquisition in two years, buying Aporteto for $150 million in cash.
• Alibaba (NYSE:) stock inched down 0.2% even after a successful Hong Kong debut, with shares rising 6.6% locally in their first trading session.
• Abercrombie & Fitch (NYSE:) stock slipped 0.5% after its earnings fell just shy of estimates; revenue and comparable sales were flat as the retailer struggled to keep the interest of younger buyers.
• Dick’s Sporting Goods (NYSE:) stock surged 11.6% after it reported better-than-expected earnings and revenue, with same-store sales rising 6%; the company also raised its full-year guidance.
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