Affirm, Netflix, AstraZeneca rise premarket; Nordstrom, Hawaiian Electric fall

Investing.com — U.S. traded higher Friday, bouncing after the previous session’s substantial losses ahead of Fed chief Jerome Powell’s key speech at the Jackson Hole gathering.

Here are some of the biggest premarket U.S. stock movers today:

• Affirm (NASDAQ:) stock rose over 7% after the buy now, pay later beat expectations on and raised its guidance, boosted by a jump in transactions on its platforms.

• Gap (NYSE:) stock rose 0.1% after the casual clothing retailer quarterly profit expectations but missed slightly on revenue expectations, with comparable store sales down 6% over its brands.

• Marvell Technology (NASDAQ:) stock fell 3% after the chipmaker posted a fall in second quarter , hit by a weak enterprise market.

• Nordstrom (NYSE:) stock fell 3.6% after the luxury department store chain adopted a cautious tone over demand in the second half of the year, warning of higher credit losses as more consumers default on payments.

• Hawaiian Electric (NYSE:) stock slumped over 16% after the utility suspended its dividend, while S&P GIobal downgraded its credit rating deeper into “junk” territory amid scrutiny over its role in the Maui wildfires.

• AstraZeneca (NASDAQ:) ADRs rose 0.6% after the drugmaker filed a legal challenge to critical aspects of a program that gives the Medicare health insurance plan the power to negotiate lower drug prices.

• Netflix (NASDAQ:) stock rose 0.6% after Loop Capital upgraded the streaming giant to ‘buy’ from ‘hold’, saying the company’s shares can jump more than 20%.