See which businesses are leading the way in premarket trading:
Meme stocks:
After the man behind the 2021 GameStop frenzy, “Roaring Kitty,” posted online for the first time in over three years, GameStop saw a 120% increase, adding to the 74.4% gain it saw on Monday. AMC’s stock surged by 106%, while Reddit and Robinhood had gains of 4% and almost 6%, respectively.
Alibaba:
U.S.-listed shares fell almost 5% following the Chinese e-commerce behemoth’s announcement of an 86% decline in profits for the company’s fiscal fourth quarter. Alibaba did, however, exceed sales forecasts, reporting 221.9 billion Chinese yuan ($30.7 billion) as opposed to the LSEG average estimate of 219.66 billion yuan.
Household Depot:
Due to inconsistent quarterly performance, the home improvement shop saw a decrease of less than 1%. Home Depot exceeded the $3.60 average predicted by LSEG’s panel of analysts with profits per share of $3.63. Revenue came up short of the $36.66 billion consensus projection, coming in at $36.42 billion.
SonyAfter the PlayStation manufacturer reported quarterly revenue of 3.5 trillion yen, exceeding the 2.89 trillion yen, per LSEG, U.S.-listed shares rose 3%. However, operating earnings were lower than anticipated.
Vodafone:
The telecom business situated in the United Kingdom increased by 3% as its adjusted free cash flow and operating profit for the entire year exceeded forecasts.
Walmart:
Following reports from the Wall Street Journal that the retail behemoth intends to eliminate hundreds of jobs and is requesting that the majority of remote workers relocate to offices, shares of the company increased somewhat.
American AirlinesA summer travel update was released, and the travel stock dropped by less than 1%. With 10% more passengers than the previous year, United said it anticipates its busiest Memorial Day weekend ever.
Source (CNBC)
