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Fossil Group Inc (NASDAQ: FOSL) stock soared higher by more than 75 percent. The consumer fashion accessory company reported a strong top-and-bottom-line beat in its fourth quarter results with notable strength and momentum in wearables.

Movado Group, Inc (NYSE: MOV) moved higher by 7 percent on no company specific move. The company designs, sources, markets and distributes watches so investors and traders can reasonably assume the move higher is correlated with Fossil's surge.

Cisco Systems, Inc. (NASDAQ: CSCO) will be in focus throughout Wednesday's session. The technology giant is scheduled to report its fiscal second quarter results after market close and is expected to earn 59 cents per share on revenue of $11.81 billion.

Universal Display Corporation (NASDAQ: OLED) gained more than 9 percent after the developer of organic light emitting diode technologies extended an agreement with Samsung. As part of the agreement, Universal Display will continue to supply its UniversalPHOLED phosphorescent OLED materials and technologies to Samsung through the end of 2022.

DBV Technologies SA - ADR (NASDAQ: DBVT) soared higher by more than 35 percent after the France-based clinical stage biopharmaceutical company announced an update on its therapy for the treatment of peanut allergies called Viaskin Peanut. The company said the U.S. Food and Drug Administration agreed that the company's efficacy and safety data supports the submission of a Biologics License Application (BLA).

Related Links:

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Posted-In: News Pre-Market Outlook Trading Ideas


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