Walmart, Home Depot, Citigroup and more
Check out these premarket movers:
Walmart (WMT) – Walmart slumped 7% in premarket trading after missing bottom-line expectations for the first quarter. Retail giant Walmart earned $1.30 per Share, which is 18cs less than estimates due to inflationary pressures. This was in spite of the positive effect of higher-than-expected sales.
Home Depot (HD) – Home Depot added 2.7% in the premarket after the home improvement retailer reported better-than-expected profit, revenue and comparable sales for the first quarter, while also raising its full-year forecast. Home Depot posted a quarter profit of $4.09 per stock, against a consensus estimate at $3.68.
Citigroup (C) – Citi rallied 5.4% in the premarket following news that Berkshire Hathaway(BRK.B. took a 3 billion-dollar stake in the bank for the first quarter. Berkshire also revealed that nearly $8.3B of its stake was sold in the 13-F latest filing. Verizon(VZ), which saw its shares fall by 1%
United Airlines (UAL) – United Airlines shares rallied 4.6% in premarket action after the airline raised its current-quarter revenue forecast, saying it expects its busiest summer since before the pandemic began.
Twitter (TWTR) – Twitter fell 1% in the premarket as Tesla CEO Elon Musk continues to cast doubt on whether his deal to buy Twitter for $54.20 per share will be completed. Musk suggested that he may seek a lower cost, suggesting there might be more spam and fake accounts than what the company claims.
Take-Two Interactive (TTWO) – Take-Two jumped 4.9% in the premarket despite a quarterly miss in its key bookings metric as well as weaker-than-expected guidance. Analysts pointed out a long history of conservatism from the videogame maker and expect an upbeat outlook following its planned acquisition. Zynga (ZNGA) closes.
JD.com (JD) – JD.com surged 9% after beating top-line and bottom-line estimates for its latest quarter, as the China-based e-commerce giant saw increased demand amid new Covid-related lockdowns. JD.com also benefits from the hope for looser regulatory restrictions on tech companies. Pinduoduo(PDD), Up 8.6% Baidu(BIDU), gaining 4.1%
Tencent Music Entertainment (TME) – Tencent Music shares jumped 6.5% in premarket trading, despite a 15% slide in quarterly revenue. Tencent Music shares also profit from the hopes of looser regulatory restrictions.
Lordstown Motors (RIDE) – Lordstown CFO Adam Kroll said doubts about the electric vehicle maker’s ability to stay in business will remain in place until it secures more funding. Lordstown issued an initial “going concern” warning in June 2021. In premarket trading, the stock dropped 1.8%