Stocks – Uber, Netflix Slump Premarket; Tapestry, Adobe Rise

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

• Uber (NYSE:) stock slumped 7.1% in premarket trade by 8:20 AM ET (11:20 GMT) after the ride-sharing company failed to narrow its underlying losses significantly in the last quarter. The company said it will reach profitability on an EBITDA basis in 2021.

• Netflix (NASDAQ:) stock slipped 1.1% as the Walt Disney Company (NYSE:) announced that its Disney+ streaming service will feature a permanent library, instead of rotating shows.

• Tapestry (NYSE:) stock gained 1.8% after the Coach owner topped estimates due to overseas demand for its handbags.

• Shake Shack (NYSE:) stock tumbled 17.5% after it reported weak same-store sales and cut its forecast for the year, due in part to cutting its delivery partners to focus on cooperating with Grubhub (NYSE:), something that will cost it sales through other channels. Third-quarter earnings came in higher than expected.

• Adobe (NASDAQ:) stock gained 4.9% after the software company beat forecasts.

• Groupon (NASDAQ:) stock declined 8.7% after its earnings came in below forecasts due to slowing customer traffic and a drop in international sales.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.