Some of the largest premarket stock movers include GameStop, Apple, and BlackBerry.
Check out the companies making headlines before the bell:
GameStop intends to request shareholder approval to increase the number of outstanding shares to 1 billion from the current 300 million in order to facilitate a stock split. The videogame retailer's stock price rose 16.6% in the premarket.
J.P. Morgan Securities removed the iPhone SE launch from its "Analyst Focus List" due to concerns about moderated consumer spending limiting benefits. However, the firm maintained an "overweight" rating on the stock.
Despite earning an unexpected profit in its latest quarter, BlackBerry's revenue fell below analyst forecasts. The revenue miss was due to the growth in its cybersecurity unit flattening. Shares slid 4.4% in premarket trading.
Citi upgraded WYNN's stock to "buy" from "neutral," citing increasing clarity over regulations and licenses in Macau and an attractive valuation.
Li Auto's premarket trading saw a 6.6% increase after reporting 31,716 vehicles delivered in March, which was more than double the previous year's total.
In March, Nio, a China-based electric vehicle company, delivered 9,985 vehicles, representing a 37.6% increase from the previous year. As a result, Nio's shares experienced a 5.8% increase in premarket trading.
The mining company, which received an investment from AMC Entertainment, reported a smaller-than-expected quarterly loss and added 3% in the premarket. AMC shares also rallied 4.6%.
Despite healthy profit potential and a highly engaged user base, the online clothing marketplace operator's stock slid 2.2% in premarket trading after Stifel cut its rating to "hold" from "buy."
markets
You might also like
- Delinquencies are on the rise while a record number of consumers are making minimum credit card payments.
- U.S. economy state weighs on little changed treasury yields.
- European markets predicted to sustain positive growth.
- Trump hints at imposing a 10% tariff on China starting in February.
- David Einhorn believes we are currently in the "Fartcoin" phase of the market cycle.