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Macy's, Dollar General, Okta fall premarket; Nordstrom rises

Investing.com -- Stocks in focus in premarket trade on Thursday, June 1st. Please refresh for updates.

  • Nordstrom (NYSE:JWN) stock rose 3.5% after the department store operator reported better-than-expected sales for the April quarter, confirming its outlook for fiscal 2023.

  • Macy’s (NYSE:M) stock fell 10% after the high-end department store chain missed quarterly revenue expectations and cut its full-year outlook, as consumers limit non-essential spending due to persistently high inflation.

  • Dollar General (NYSE:DG) stock fell 9.4% after the discount store chain cut its full-year same-store sales forecast as inflation-hit customers tightened spending.

  • Salesforce (NYSE:CRM) stock fell 6.6% after the cloud-based software company posted an 11% rise in quarterly revenue, its slowest pace of growth in 13 years, as companies dialed back spending.

  • Target (NYSE:TGT) stock fell 1.6% after JPMorgan downgraded its stance on the big box department store chain to ‘neutral’ from ‘overweight’, citing future margin concerns.

  • CrowdStrike (NASDAQ:CRWD) stock fell 10% after the cybersecurity company reported slowing revenue growth, with the 42% year-over-year revenue increase below the 61% growth seen a year ago.

  • Okta (NASDAQ:OKTA) stock fell 19% after CEO Todd McKinnon predicted tough times ahead for the identity software company even after it recorded stellar first-quarter results.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.