GameStop, Apple, BlackBerry and more
See which companies are making the headlines even before the bell rings.
GameStop (GME) – GameStop plans to seek shareholder approval to boost the number of shares outstanding in order to enable a stock split. From 300 million shares, the videogame retailer proposes an increase of 1 billion to 1. Premarket, the stock rose 16.6%.
Apple (AAPL) – J.P. Morgan Securities removed the stock from its “Analyst Focus List,” saying a moderation in consumer spending may limit benefits from the iPhone SE launch and the potential for upside in services revenue. The stock was still assigned an “overweight”, however.
BlackBerry (BB) – BlackBerry earned an unexpected profit for its latest quarter, but the communications software company’s revenue fell below analyst forecasts. This revenue decline was due to a flattening of cybersecurity-related growth. Premarket trading saw shares drop 4.4%
Wynn Resorts (WYNN) – The resort and casino operator’s stock added 1.6% in the premarket after Citi upgraded it to “buy” from “neutral.” Citi attributes Macau’s growing clarity regarding regulations and licenses to an attractive valuation.
Li Auto (LI) – Li Auto rallied 6.6% in premarket trading after the China-based electric vehicle maker reported 31,716 vehicles deliveries in March, more than double the year-ago total.
Nio (NIO) – The China-based electric vehicle company Nio reported deliveries of 9,985 vehicles in March, an increase of 37.6% from a year ago. Premarket trading saw Nio share prices rise 5.8%
Hycroft Mining (HYMC) – The small-cap mining company – best known for an investment from movie theater chain AMC Entertainment (AMC) – added 3% in the premarket after reporting a smaller-than-expected quarterly loss. AMC shares gained 4.6%.
Poshmark (POSH) – The online clothing marketplace operator’s stock slid 2.2% in premarket trading after Stifel cut its rating to “hold” from “buy.” Stifel indicated that there are many challenges facing the company despite its high profit potential, engaged customers and healthy profits.