Categories: Economic News

Vroom, Poshmark, Revolve, Green Plains and more

Vroom IPO on Nasdaq, June 9, 2020.

Source: Nasdaq

Check out the companies making headlines before the bell:

Poshmark: Shares rose more than 5% after Barclays upgraded the online fashion retailer to overweight from equal weight. Poshmark will get a boost from the fast-growing second-hand clothing market, particularly if consumers are priced out in a recession, Barclays said.

Vroom: Shares fell more than 3% after JPMorgan downgraded the stock to underweight from neutral, saying the online used car retailer will continue to see challenges amid a broader economic slowdown. Vroom is already down 80% this year.

Revolve: Shares fell more than 2% after a downgrade to underweight from equal weight Barclays. The investment firm cited slowing revenue growth and tough comparisons at the clothing store company.

Green Plains: Green Plains declined more than 3% after Bank of America downgraded the stock to neutral from buy. The investment firm said the ethanol fuel producer’s current valuation is fair.

TaskUs: Content moderation outsourcing firm faces near-term macro challenges, according to Morgan Stanley. The investment firm downgraded the stock to equal weight from overweight. Shares fell 3%.

Baidu, Alibaba, Pinduoduo: Shares of Chinese internet companies fell after weak economic data from China. Baidu, Alibaba and Pinduoduo fell more than 1%.

Comcast, Charter Communications: Shares of both broadband companies fell more than 1% after downgrades to neutral from Atlantic Equities. The firm cited worse-than-expected broadband results from both companies.

Dollar General: Shares of the discount retailer have been fully priced into recession expectations, according to a note Monday from BMO Capital Markets. The firm downgraded Dollar General to market perform from outperform. Shares were down 1%.

Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.


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