Tesla, Sweetgreen, Gap and more
Check out these premarket movers:
Tesla (TSLA) — Shares fell 1.2% in premarket trading after CEO Elon Musk challenged the United Auto Workers unionTo organize Fremont’s assembly line for his company.
Sweetgreen (SG) — Sweetgreen shares soared 19.9% in premarket trading after the salad chain reported strong sales growth in its first quarterly reportThe company has been public since November. It also suffered from increasing losses.
Gap (GPS) — Shares surged 7% in premarket trading after the retailer reported a narrower-than-expected loss for the fourth quarter and issued strong earnings guidance. Gap reported a 2 cent per share loss, against the forecast of 14 cents by Refinitiv analysts. The revenue also exceeded estimates.
Costco Wholesale (COST) — The retail stock retreated 2% after a better-than-expected quarterly report. Costco’s fiscal second-quarter earnings were $2.92 per share for revenue $51.9 billion. Refinitiv analysts polled expected earnings to be $2.74 for revenue $51.47 billion.
Marvell Technology (MRVL) — Shares dipped 2.3% despite a slight earnings beat. Marvell posted fourth quarter earnings of 50c per share (excluding items) on $1.34billion in revenue. According to Refinitv, analysts had predicted a profit in the 48s on revenue of $1.32billion.
Broadcom (AVGO) — The chip stock rose more than 3% premarket after Broadcom beat Wall Street expectations for its fiscal first quarter. Refinitiv analysts expected the company to report adjusted earnings of $8.39 per sen, while Broadcom reported $8.39. Refinitiv also reported that the second quarter revenue guidance came in higher than anticipated.
Best Buy (BBY) — The retail stock dipped 2% in early morning trading after Raymond James downgradedMarket performer Best Buy is outperform. Raymond James explained that the stock recommendation is in sleep mode at this point.