Premarket Roundup: Nordstrom, Video Games

The Associated Press

Shares of Nordstrom Inc. dropped after the upscale department store said it had increased its provision for credit losses and issued a guidance that assumes continued "stagnant" consumer spending, at least one analyst said, perhaps disappointing investors hoping for a strong recovery in sales.

The sharp decline in U.S. video game sales the NPD Group reported were not surprising, and analysts widely expect sales to pick up in November.

Expectations for an economic recovery in 2010 and a rebound in oil demand prompted an analyst to raise his outlook for the tanker industry.

An Oppenheimer analyst upgraded shares of Juniper Networks Inc., saying the company is poised to benefit from a recovery in spending by telecom carriers in 2010.

Rosetta Resources Inc.'s attractive share price and improved productivity prompted an analyst to upgrade the exploration and production company's stock.