Welcome to Extreme Investor Network, where we bring you the latest updates on premarket trading moves and financial news that could have an impact on your investment decisions.
In today’s market, meme stocks continue to dominate the headlines with GameStop and AMC making significant gains. GameStop soared 120% after “Roaring Kitty” posted online for the first time in three years, adding to the 74.4% gain it saw on Monday. AMC also saw a pop of 106%, while Reddit and Robinhood added 4% and nearly 6%, respectively.
On the other hand, Alibaba’s U.S.-listed shares dropped nearly 5% after reporting an 86% drop in profits for its fiscal fourth quarter. Despite this, Alibaba beat revenue expectations, coming in at 221.9 billion Chinese yuan ($30.7 billion).
Home Depot slipped less than 1% after reporting mixed quarterly results, with earnings per share of $3.63 beating analyst expectations, but revenue of $36.42 billion missing the consensus estimate.
Sony’s U.S.-listed shares added 3% following a quarterly revenue beat, although operating profits fell short of expectations. Vodafone gained 3% after exceeding expectations for full-year adjusted free cash flow and operating profit.
In the shoe industry, On Holding jumped 9% on the back of first-quarter earnings that far exceeded analyst expectations, with adjusted profit and net sales both seeing significant jumps.
Other notable moves include Walmart’s incremental share increase amid reports of job cuts and United Airlines’ less than 1% decline following a summer travel update projecting record Memorial Day travel numbers.
Novo Nordisk’s shares moved slightly higher after new data revealed that patients taking its Wegovy weight-loss treatment maintained an average 10% weight loss after four years.
For more updates and expert analysis on the latest market trends and financial news, stay tuned to Extreme Investor Network. Our team of financial experts is here to provide you with the insights you need to make informed investment decisions.