NVIDIA’s logo as seen at the company’s headquarters in Santa Clara, California in May 2022.
Nvidia | via Reuters
Check out the companies that made the biggest moves in premarket trading on Thursday:
Nvidia – Shares rose 28% after the chipmaker reported blockbuster earnings. Nvidia said it expects a “huge record year” and forecast second-quarter revenue of $11 billion, more than 50% higher than analysts’ estimates.
best buy – Shares of the electronics retailer are up nearly 5% in premarket trading after the company posted first-quarter earnings of $1.15 per share excluding items, beating $1.11 analysts had expected, according to Refinitiv . Revenue of $9.47 billion was below the expected $9.52 billion.
snowflake — The cloud computing company plunged about 13% after the company issued a weaker-than-expected second-quarter revenue forecast. However, according to Refinitiv, Snowflake topped analysts’ estimates for first-quarter earnings and revenue when it reported after the close on Wednesday.
American Eagle Outfitter – The stock fell nearly 20% in premarket trading after the retailer said it expects sales to fall in the second quarter. American Eagle Outfitters also reported first-quarter earnings per share that were in line with estimates and revenue that was slightly ahead of expectations
carnival – The cruise line gained 2.3% after Citi upgraded its share price to buy from neutral. The company said Carnival is at a turning point on its balance sheet, at a time when investors seem more interested in the cruise space.
dish network – Shares are down 2.7% premarket after Citi downgraded them to neutral from “buy” on Wednesday. The Wall Street company cited Dish’s significant capital requirements in connection with the decline in the market value of its securities.
money tree – Shares of the discount retailer fell 11% in premarket trading after Dollar Tree reported shrinking margins for the first quarter. Gross profit fell 4.7% while net sales rose 6.1%. According to StreetAccount, the company’s adjusted earnings per share for the first quarter came in at $1.47, below analyst estimates of $1.52.
C3.ai, Palantir Technologies – AI shares rallied on gains from Nvidia, with C3.ai up 14% and Palantir Technologies up nearly 10%.
modern micro devices, Taiwan Semiconductors – Semiconductor stocks followed Nvidia higher in premarket trading, with AMD up about 9% and Taiwan Semiconductor up nearly 7%.
— CNBC’s Alex Harring, Tanaya Macheel and Jesse Pound contributed coverage.
https://www.cnbc.com/2023/05/25/stocks-making-the-biggest-premarket-moves-nvidia-best-buy-snowflake-carnival-and-more.html
