Check out some of the biggest movers in the pre-market:
Snowflake (SNOW) – Snowflake shares fell 3.7% in pre-trading after the presentation of the company’s cloud computing financial goals during the Investors’ Day meeting. Snowflake has set a goal of reaching $ 10 billion in annual product revenue by 2029, up from $ 554 million in its fiscal year, which ended in January.
Vertex Pharmaceuticals (VRTX) – The drugmaker has stopped developing an experimental drug designed to treat a rare genetic disease called AAT deficiency. Vertex said the drug increases protein deficiency levels, but not enough to provide significant benefits. Vertex sank 1
Chewy (CHWY) – Chewy earned 9 cents a share for its last quarter, compared to consensus forecasts of a loss of 3 cents a share. The pet trader’s revenue also exceeds forecasts and gives an optimistic outlook for revenue. Chewy also warned of labor shortages and supply chain problems affecting product availability.
Dave & Buster’s (PLAY) – Dave & Buster’s reported a surprising profit for its first quarter, earning 40 cents per share. Analysts forecast a loss of 16 cents per share for the restaurant chain. Dave & Buster’s said the recovery of its business continued in the first part of the current quarter, and its shares jumped 5.5% in preliminary action.
Royal Caribbean (RCL) – Royal Caribbean’s Celebrity line said two passengers aboard the Millennium cruise ship tested positive for the Covid-19. The passengers – traveling together – are asymptomatic and isolated, and the cruise line is currently tracking contacts. Royal Caribbean lost 1.3% in preliminary trading.
Biogen (BIIB) – Biogen added 1.4% in the pre-market after UBS upgraded the drugmaker’s shares to “buy” from “neutral” and Bernstein raised its rating to “better performance” than “market results “Both companies base their improvements on the potential sales boom from Food and Drug Administration approval this week for the treatment of Alzheimer’s disease.
AMC Entertainment (AMC), GameStop (GME), Clover Health (CLOV) – These “meme stocks” continue to fluctuate, with AMC up 8% in the pre-market, GameStop up 5.7% and Clover Health up 3%.
Tesla (TSLA) – Tesla unveiled its Model S Plaid at an event held at its factory in Fremont, California. The new high-end version of its Model S sells for just under $ 130,000. Separately, Goldman Sachs repeated its rating for the purchase of shares.
American Airlines (AAL) – American Airlines is investing $ 25 million in Vertical Aerospace. American said it plans to purchase up to 250 of the electric planes, which are scheduled for an initial test flight later this year.
Callaway Golf (ELY) – Callaway Golf will replace GrubHub (GRUB) in the S&P MidCap 400 index, in effect before the opening of trading on June 15. GrubHub is in the process of being acquired by the British company Just Eat Takeaway. Callaway – a leading manufacturer of golf clubs and other golf products – will be replaced in the S&P SmallCap 600 by Apollo Medical (AMEH). Callaway slipped 3.7% in preliminary trading, while Apollo jumped 11.9%.
Livent (LTHM) – Shares of the lithium energy specialist fell 2% in the preliminary market after announcing a public offering of 13 million shares at $ 17.50 per share. Livent plans to use the proceeds for general corporate purposes, debt repayment and capital expenditure increases.
Monday.com (MNDY) – The Israeli-based work management software maker is on the lookout for its second trading day after valuing its initial public offering at $ 155 a share and closed at $ 178.87 on Thursday.