Peloton's stock climbs on Lululemon deal, CarMax's shares slide on earnings, GameStop declines, and more stocks on the move

By MarketWatch

Here are the day's biggest movers:

Stock gainers:

Peloton Interactive's (PTON) stock is up more than 2% after surging premarket, lifted by the announcement of a five-year partnership with athletic-wear giant Lululemon Athletica (LULU).

After declining in premarket trades, shares of H.B. Fuller Co. (FUL) rallied to rise more than 4% after the adhesives maker said "generally slower industrial demand" weighed on its third-quarter results and full-year forecast.

Stock decliners:

CarMax Inc's stock (KMX) fell more than 10%, after the used car retailer's second-quarter earnings fell from a year ago amid continued pressure in the sector.

Shares of GameStop Corp. (GME) were down more than 2%. The stock had surged premarket, lifted by the announcement that activist investor Ryan Cohen had been named CEO.

Micron Technology Inc.'s shares (MU) fell more than 2% after the memory-chip maker said another quarter of negative margins are in store and CEO forecasts "several hundreds of millions of dollars" in 2024 data center sales from AI boom.

Workday's shares (WDAY) fell more than 9% as the company lowered its long-term ambitions, now seeing 17% to 19% target annual subscription revenue growth through fiscal 2027, down from 20%-plus previously, and its operating cash flow margin target to 30% from 35%.

-MarketWatch

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09-28-23 1057ET

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