Title: Stock Market Update: Companies Making Moves in Premarket Trading
The stock market is always buzzing with activity, and today is no different. Here are some of the companies that are making big moves in premarket trading:
1. Micron: Shares of the semiconductor manufacturer popped 16.5% after beating analyst estimates for its fiscal second-quarter earnings and revenue. Micron also provided guidance for higher-than-expected third-quarter earnings and revenue.
2. Apple: The iPhone maker slipped 1% after a report that the Justice Department could file an antitrust lawsuit against Apple.
3. Astera Labs (ALAB): Shares of Astera, which sells data center connectivity chips, added nearly 2% after debuting on the Nasdaq and surging 72% on its first day of trading.
4. Li Auto: U.S.-listed shares of the Chinese electric-vehicle maker tumbled 9% after lowering its first-quarter delivery expectations.
5. Broadcom: Shares of Broadcom climbed nearly 3% after being upgraded by TD Cowen to outperform, with further potential upside from its artificial intelligence business.
6. Revolve Group: The fashion retailer jumped nearly 5% after receiving an upgrade to outperform from TD Cowen, expecting a return to growth.
7. Nvidia: Shares of the AI chipmaker jumped 2% after an outperform rating from TD Cowen and an increased price target.
8. Chewy: Shares of the pet products retailer fell 2% after issuing soft guidance for the current quarter.
9. Five Below: The discount retailer sank 13% after reporting an earnings and revenue miss in its fourth quarter.
10. Guess: The clothing designer’s stock jumped nearly 12% after posting better-than-expected earnings and revenue.
11. Darden Restaurants: Shares of the owner of Olive Garden and LongHorn Steakhouse chains dropped about 4% after falling short of analyst revenue estimates in its fiscal third quarter.
The stock market is always dynamic, with companies experiencing both highs and lows in premarket trading. Stay tuned for more updates as the trading day unfolds.
Source link
