Five Below, PVH Rise Premarket; Tesla Falls

Investing.com -- Stocks in focus in premarket trade on Thursday, September 3rd. Please refresh for updates.

• Tesla (NASDAQ:TSLA) stock slumped 6.7%, continuing Wednesday’s fall after Baillie Gifford, Tesla’s largest outside shareholder, reduced its position in the electric auto maker. The company’s stock is still over 430% higher year-to-date.
• Five Below (NASDAQ:FIVE) stock rose 7.6% after the discount store chain reported strong second-quarter results, saying its sales accelerated as it reopened stores. The company also expects to open 110 to 120 net new stores in 2020. 
• PVH (NYSE:PVH) stock rose 1.7% after the parent of Tommy Hilfiger and Calvin Klein reported second-quarter earnings well ahead of expectations late Wednesday. The retailer registered a surprise quarterly profit, benefiting from strong demand for casual clothing during the coronavirus-led shift to work from home.
• Crowdstrike (NASDAQ:CRWD) stock fell 8.9% despite reporting a surprise fiscal first-quarter profit amid increasing demand for cybersecurity. The stock has nearly trebled year-to-date, and investors could be looking to bank some profits.
• Fulgent Genetics (NASDAQ:FLGT) stock rose 10% after the company said it would supply Covid-19 testing to thousands of students in partnership with New York City Health and Hospitals at nearly 1,600 locations.  
• Pagerduty (NYSE:PD) stock slumped 23% after the IT-software company reported a second-quarter loss of $14.7 million late Wednesday, failing to impress a market which has become used to tech companies outperforming.
• Novavax (NASDAQ:NVAX) stock rose 5.9% after early stage clinical trial results showed the company’s Covid-19 vaccine candidate is safe and elicits an immune response, according to a report in The New England Journal of Medicine. 
• Sanofi (NASDAQ:SNY) ADR rose 0.6% and GlaxoSmithKline (NYSE:GSK) ADR fell 0.4% after the two drug companies said they are starting U.S. clinical trials of their coronavirus vaccine, hoping to get results by December.
• United Airlines (NASDAQ:UAL) stock fell 0.7% after the troubled airline said it will furlough more than 16,000 workers when federal aid expires on October 1.
• Facebook (NASDAQ:FB) stock fell 1.4% after the social media giant announced that would not be accepting new political ads in the week before the presidential election, and will remove posts that claim people will get Covid-19 if they take part in voting.
• Costco (NASDAQ:COST) stock rose 1% after the warehouse retailer reported a 13.2% rise in August comparable-store sales, better than expected, helped by strong growth in e-commerce sales.

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