Thursday’s Pre-market Movers

2022-11-10 124

Tapestry ($TPR@US), which owns high-end brands such as Coach and Kate Spade, dropped 2 percent in premarket trading. It beat top and bottom line estimates for its latest quarter but cut its full-year forecast, accounting for the strong U.S. dollar and China’s Zero COVID policy. WeWork’s ($WE@US) stock fell 1.7 percent after reporting a larger-than-expected quarterly loss. The office-sharing company plans to shutter 40 underperforming locations this month. Nio ($NIO@China), a China-based electric car maker, rose 5.5 percent. It posted a larger-than-expected quarterly loss, but it expects deliveries to nearly double in the current quarter from a year ago.