CarMax rises premarket; Virgin Galactic and Starbucks fall

Investing.com -- Stocks in focus in premarket trade on Friday, June 23rd. Please refresh for updates.

• CarMax (NYSE: KMX) stock rose 6.4% after the used car retailer posted a better-than-expected adjusted profit for the first quarter, benefiting from a series of cost-cutting measures.

• Starbucks (NASDAQ: SBUX) stock fell 1.8% after the announcement that more than 150 stores of the coffee chain and 3,500 workers will be on strike next week across the United States.

• Virgin Galactic (NYSE: SPCE) stock fell 11% after the space travel company announced it raised $300 million through a common stock offer, and intends to raise $400 million more.

• Under Armour (NYSE: UA) stock fell 2.6% after Wells Fargo downgraded its stance on the clothes retailer to ‘equal weight’ from ‘overweight’, saying the company was overexposed in North America, which could suffer slowing growth.

• Deutsche Bank (ETR:DBKGn) stock fell 1.7% after a German union criticized reported plans for possible job cuts at its German retail operations, foreshadowing tough labor negotiations ahead.

• C3.ai (NYSE: AI) stock fell 1.6% after Deutsche Bank said the company did not differentiate itself from other artificial intelligence names at its investor day.

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