Ambarella, PVH, Campbell Soup Rise Premarket; Crowd strike Falls

By Peter Nurse -- Stocks in focus in premarket trade on Wednesday, September 1st. Please refresh for updates.

  • Crowdstrike (NASDAQ:CRWD) stock fell 3.3% amid concerns over its heightened valuation despite the cybersecurity company beating quarterly earnings and raising full-year guidance for the second time this year. The stock has risen sixfold during the pandemic and is up over 10% this month alone.

  • PVH Corp (NYSE:PVH) stock rose 9.3% after the owner of clothing brands like Tommy Hilfiger and Calvin Klein reported strong quarterly results and provided optimistic third-quarter guidance.

  • Nio (NYSE:NIO) ADRs fell 5.1% as the Chinese electric car manufacturer cut its outlook for deliveries in the ongoing quarter, citing uncertainty over semiconductor supplies.

  • Sunrun (NASDAQ:RUN) stock rose 6.7% after JPMorgan (NYSE:JPM) added the solar company to its ‘top ideas’ list, saying the recent dip in its stock price has made a play too good to turn down.

  • Campbell Soup (NYSE:CPB) stock rose 0.8% with the food company beating expectations for the current quarter even as it forecast fiscal 2022 earnings below market estimates. It cited higher packaging, ingredients and transportation expenses.

  • Intuit (NASDAQ:INTU) stock rose 0.6% after Bloomberg News reported that the company is in talks to buy e-mail marketing firm Mailchimp for more than $10 billion.

  • Ambarella (NASDAQ:AMBA) stock rose 9.8% after the semiconductor design company, which counts GoPro amongst others as customers, beat quarterly expectations, and guided for an even stronger third quarter.

  • Koninklijke Philips (NYSE:PHG) ADRs rose 2.1% with the Dutch health technology company stating it will start repairing and replacing millions of respiratory devices in the United States and most of its other markets this month.