Lululemon, Broadcom, PagerDuty Rise Premarket; Bed Bath & Beyond Falls

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Friday, September 2nd. Please refresh for updates.

• Lululemon Athletica (NASDAQ:LULU) stock rose 9.7% after the athletic clothing retailer raised its full-year outlook, the latest sign that consumer demand among high-income shoppers remains strong even as inflation soars.

• Broadcom (NASDAQ:AVGO) stock rose 2% after the semiconductor company forecast strong fourth quarter revenue, expecting resilient demand from businesses going digital even with a likely chip industry slowdown.

• PagerDuty (NYSE:PD) stock rose 7.4% after the cloud computing company lifted its guidance following quarterly results that topped estimates, driven by growing corporate cloud adoption.

• Bed Bath & Beyond (NASDAQ:BBBY) stock fell 5.1% with investors still deserting the troubled retailer even after it announced on Wednesday plans to revive the business, including layoffs and store closures.

• Nvidia (NASDAQ:NVDA) stock fell 0.4% after Daiwa downgraded its stance on the artificial intelligence software company to ‘neutral’ from ‘buy’, saying its valuation is still too high.

• Starbucks (NASDAQ:SBUX) stock rose 0.5% after the coffee chain announced that Laxman Narasimhan will take over as chief executive in October, joining from Reckitt Benckiser.

• Rocket Lab USA (NASDAQ:RKLB) stock rose 4% after the aerospace company successfully test-fired a reused Rutherford first-stage engine for the first time.
• Shell (NYSE:SHEL) ADRs rose 1.8% after Reuters reported that CEO Ben van Beurden is preparing to step down next year from the energy giant, after nearly a decade in that job.