Stock Groups

GameStop, T-Mobile, Sonos and others

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See which companies are making the headlines even before the bell rings.

GameStop (GME) – GameStop surged 14.3% in the premarket on reports that the videogame retailer is starting a new division to focus on cryptocurrency partnerships and NFTs.

T-Mobile (TMUS) – T-Mobile reported fourth-quarter postpaid net subscriber additions of 844,000 and total 2021 additions of about 2.9 million. Premarket trading saw a 1.8% drop in stock prices and fourth quarter numbers from the wireless provider.

STMicroelectronics (STM) – STMicro issued preliminary fourth-quarter revenue figures that were higher than analysts were anticipating. Due to increasing demand for chips and the worldwide shortage of them, STMicro’s revenue came in at 3.56 billion. That is compared to a consensus estimate that it would have been $3.41 billion. Premarket activity saw STMicro share prices rise 4.2%

Sonos (SONO) – The speaker maker’s stock rallied 4% in the premarket, following an International Trade Commission ruling that AlphabetGoogle infringed some Sonos audio patents on its Nest speakers. Google intends to appeal this decision.

Quidel (QDEL) – Quidel said it expects to report revenue of $633 million to $637 million for the fourth quarter, well above the consensus estimate of $466 million. This diagnostics company has seen an increase in demand for Covid-19 and other tests. Quidel saw 4.8% increase in premarket trading.

DraftKings (DKNG) – The sports betting company’s stock added 2% in the premarket, ahead of the launch of legal mobile sports betting in New York State, beginning Saturday morning.

Visa (V) – Visa slid 1.4% in premarket trading after Mizuho downgraded the stock to “neutral” from “buy.” Mizuho refers to what it views as the permanent reduction of “cash-to card conversion runway”, as well as increased competition.

Trade Desk (TTD) – The provider of programmatic advertising technology was upgraded to “buy” from “hold” at Jefferies, based on a number of key catalysts including conservative consensus estimates and a new partnership with Walmart. Premarket, the stock gained 4.6%

Discovery (DISCA) – The media company’s stock was upgraded to “buy” from “neutral” at BofA Securities, which feels that Discovery’s upcoming merger with WarnerMedia has the potential to create a “global media powerhouse.” In premarket action, Discovery gained 3.8%.

New York Times (NYT) – The newspaper publisher announced a deal to buy sports news site The Athletic for $550 million, following earlier reports that a transaction had been finalized. New York Times shares declined 1.4% on the premarket.

Acuity Brands (AYI) – The provider of building management systems reported an adjusted quarterly profit of $2.85 per share, beating the $2.41 consensus estimate, with revenue also topping Wall Street forecasts. Acuity Brands stated that the company did well despite supply chain difficulties and unpredictability in markets.

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