Stocks That Make The Biggest Moves On The Pre-Market: Disney, DoorDash, Snowflake, Fisker & More

Check out some of the largest moving companies on the pre-market:

Walt Disney (DIS) – Disney shares fell 3.9% in premarket trading after growth numbers for the Disney + streaming service fell short of Wall Street forecasts. Disney reported better-than-expected earnings for the first quarter, but revenue fell short of analysts’ forecasts.

DoorDash (DASH) – DoorDash rose 8.2% in the pre-market after first-quarter sales exceeded analyst forecasts and the grocery delivery company raised its annual forecast for order value. First quarter results were boosted by stimulus checks, though the company said the same checks are responsible for drivers working fewer hours.

Snowflake (SNOW) – The cloud computing company was switched from “neutral” to “buy” at Goldman Sachs. This shows the snowflake’s strong competitive position, as well as a decline from recent highs that is much larger than that of its peers. Snowflake rose 5.7% in premarket trading.

Airbnb (ABNB) – Airbnb posted a loss in the first quarter, but also posted better-than-expected revenue and a 52% increase in gross bookings as more Americans got Covid-19 vaccinations and travel restrictions eased.

Coinbase (COIN) – Coinbase posted record earnings in the first quarter as cryptocurrency exchanges benefited from a significant rally in Bitcoin and other digital currencies. Coinbase shares gained 2.3% prior to going public.

Kansas City Southern (KSU) – The US-based rail operator accepted the Canadian National Railway (CNI) takeover bid of $ 33.6 billion, throwing the $ 29 billion previously agreed with the Canadian Pacific Railway (CP) Dollar deal aside. Canadian Pacific has five business days to make a counter offer for Kansas City Southern. Canadian National gained 2.9% in premarket trading, while Canadian Pacific gained 1.6%.

Tyson Foods (TSN) – The beef and poultry producer sold its pet treats business to General Mills (GIS) for $ 1.2 billion. Sales include the Nudges, Top Chews and True Chews brands, as well as a manufacturing facility in Iowa.

General Electric (GE) – Citi has restored coverage to GE with a “Buy” rating based on a “sum of the parts” rating and better execution across GE’s business portfolio. The GE share gained 1.1% in premarket trading.

Aurora Cannabis (ACB) – Aurora Cannabis fell 8.7% before entering the market after reporting lower-than-expected sales in the third quarter that were affected by pandemic restrictions in Canada. Separately, the cannabis producer announced a move of its US stock listing from the New York Stock Exchange to the Nasdaq, citing lower costs.

Fisker (FSR) – Fisker gained 14.5% in premarket retail after the electric car maker signed a contract with contract manufacturer Foxconn to jointly develop electric vehicles. A new US manufacturing facility is planned to open in 2023, although one location is not yet completed.

Poly (PLT) – Poly fell 19.5% in the pre-market after the audio and video products maker issued a weaker than expected outlook. Formerly known as Plantronics, the company expected the global semiconductor shortage to negatively impact its supply chain. For the final quarter, however, earnings and sales were better than expected.

Unity Software (U) – The company for the creation of 3D content rose 3.2% in the pre-market after Oppenheimer had upgraded the shares from “Perform” to “Outperform”. Oppenheimer said the current price is an attractive entry point given Unity’s growth prospects.

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