Prism Stocks making biggest moves premarket: Under Armour, Walmart, AMC, GameStop, Canada Goose and more

Let’s delve into the businesses that are grabbing attention in today’s premarket trading.

Under Armour sees a dip in both its Class A (11%) and Class C (9%) shares after announcing a full-year earnings guidance that falls below predictions. Its new projected earnings hover between 18 to 21 cents, a stark contrast to FactSet analysts’ prediction of 59 cents.

Canada Goose is surging upward with a 12% leap after surpassing Wall Street’s sales and earnings forecast for its Q4 fiscal year. The coat manufacturer also hints at about 100 basis points expansion in a key profit margin metric in the current fiscal year.

Walmart, the widely recognized retailer, observed a 4.7% boost after a successful Q1 earnings report. It reported 60 cents per share, exceeding predictions by 8 cents, and revenues of $161.5 billion, surpassing the consensus estimate of $159.5 billion. Gains in e-commerce and attraction of wealthier clients were highlights for Walmart.

Chubb noticed an 8.1% rise in its stock as Warren Buffett’s Berkshire Hathaway disclosed it has been stockpiling the insurance company’s shares, making it the second-largest holder according to the regulatory filing.

Cisco Systems’s stock increased by 3%, an outcome of its better-than-predicted Q3 results. Additionally, the company upgraded its revenue guidance for 2024 to $53.7 billion.

Meme stocks AMC and GameStop suffered losses despite their surge earlier in the week. AMC dropped around 11%, while GameStop fell by approximately 14%.

Deere & Company’s shares fell nearly 6% after a downward revision to its full-year forecast. The company now expects a net income of $7 billion in 2024, a decrease from its earlier prediction.

Baidu’s shares slightly increased after the Chinese tech company’s Q1 results exceeded analysts’ expectation, reporting a revenue of CNY 31.51 billion ($4.7 billion).

GoodRX’s stock rose 6% following an upgrade from Raymond James. The analyst highlighted the company’s promising growth story and cautious full-year guidance.

Coupang saw a 3.1% increase in shares after an upgrade by UBS from neutral to buy, citing an expanded portfolio and robust logistics network.

Dell’s shares increased by 2% after Evercore ISI increased its price target due to a potential lucrative AI opportunity involving Tesla.

Lastly, Meta Platforms’s shares slightly fell after the European Union initiated an investigation into child safety concerns on its social media platforms Facebook and Instagram.

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Prism Stocks making biggest moves premarket: Under Armour, Walmart, AMC, GameStop, Canada Goose and more

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