Stocks – Applied Materials, Grubhub, J.C. Penney Surge Premarket

Investing.com – Stocks in focus in premarket trading on Friday:

• Applied Materials (NASDAQ:) stock gained 6.1% in premarket trade by 8:20 AM ET (11:20 GMT) after reporting a strong fiscal fourth-quarter that was helped by increased demand for its processor chips.

• Grubhub (NYSE:) stock jumped 4.4% after Shake Shack (NYSE:) announced that it is launching a nationwide delivery service with the company. Meanwhile Barclays (LON:) gave the food delivery service a double upgrade, to “overweight” from “underweight.”

• Nike (NYSE:) stock rose 0.6% after it raised its quarterly dividend by 11% to $0.245 a share from $0.22.

• Aurora Cannabis (TSX:) stock tumbled 11.3% after it reported a 23% decline in revenue and announced plans to slow its expansion

• Nvidia (NASDAQ:) stock inched up 0.2% after its results beat on the top and bottom line, but was held back as it warned that its gaming chip business is likely to be hit by seasonal weakness this quarter.

• JC Penney (NYSE:) stock surged 18.2% after its loss for the last quarter was smaller than expected, while comparable sales fell slightly less than forecast, at 6.6% compared to the 7.7% drop expected.

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