Global Courant 2023-05-31 21:17:06
An exterior view of the Advance Auto Parts store in Sunbury Plaza, Sunbury, Pennsylvania.
Paul Weaver | SOPA Images | Rocket | Getty Images
Check out the companies making headlines in premarket trading.
SoFi — The financial services platform added nearly 7%. A deal to raise the US debt ceiling, on track for a vote on Wednesday, would resume student loan payments.
Carvana — Stocks fell nearly 4% in premarket trading. Carvana stock has been on fire year-to-date with a 189% gain from the start of 2023.
Anheuser-Busch — The beer giant was down 1.7%. According to Evercore, lower sales volume across the company’s product portfolio was behind the drop, with Bud Light leading the way with a 25.7% decline for the week ending May 20.
Hewlett-Packard Enterprise — Hewlett Packard Enterprise fell nearly 8% on mixed quarterly earnings. The company earned an adjusted 52 cents per share, beating Refinitiv’s forecast of 48 cents per share. However, revenue of $6.97 billion was below a consensus estimate of $7.31 billion.
Twilio — Stocks gained 3.6% after a report that Legion Partners is seeking changes in governance of the automated communications company as well as divestments.
Ambarella — Chip stock fell 18% after Ambarella shared disappointing Q2 expectations. Ambarella expects revenue for the second quarter to be between $60 million and $64 million. Analysts were expecting a forecast of about $66.9 million, according to StreetAccount.
Advanced auto parts — The auto parts retailer plummeted more than 25% after a major profit bust. The company reported an adjusted 72 cents per share against a Refinitiv consensus forecast of $2.57 per share. Advance Auto Parts also cut its quarterly dividend.
C3.ai — Artificial intelligence shares fell 5.8% from quarterly results on Wednesday. Analysts polled by FactSet forecast adjusted quarterly earnings of 3 cents per share.
US airlines — Shares of the airline rose about 2% premarket after the company raised expectations for the second quarter. American Airlines raised its expected earnings per share from $1.20 to $1.40 to $1.45 to $1.65. It also raised its margin expectation to between 12.5% and 14.5% from between 11% and 13%.
– CNBC’s Samantha Subin, Fred Imbert and Tanaya Macheel contributed to the reporting.
(TagsToTranslate)American Airlines Group Inc
