Stocks making the biggest moves premarket: Robinhood, GameStop, Merck and more

Take a look at these firms that are making waves in premarket trading.

Robinhood

— The brokerage firm’s shares soared over 6% following the launch of its Robinhood Gold Card, a credit card that allows cash back to be deposited directly into a brokerage account.

Concentrix

— Shares fell approximately 4% due to disappointing guidance for fiscal second-quarter earnings. The customer experience tech firm also held steady on its full-year forecast for 2024.

GameStop

— The video game retailer’s shares nosedived more than 17% as it reported a substantial drop in fourth-quarter revenue, compared to the same period last year. As part of its cost-cutting measures, the company also trimmed its workforce, although the exact numbers remain undisclosed.

Moderna

— Shares surged 3.5% as the pharmaceutical company announced it advanced three vaccines into ultimate stage trials. Additionally, Blackstone Life Sciences pledged to contribute up to $750 million towards Moderna’s flu program.

nCino

— The cloud software firm’s shares rose about 12% after announcing a 13% uptick in first-quarter revenue compared to last year. The company’s fourth-quarter earnings also surpassed analyst predictions.

Krispy Kreme

— Shares increased by over 2%, building on its 39% surge from the previous session. On Tuesday, the company revealed plans to broaden its partnership with McDonald’s to sell doughnuts across the fast-food giant’s outlets, with nationwide availability projected by 2026.

Viking Therapeutics

— Shares increased close to 3%. In the previous session, the stock experienced a more than 15% rise following the successful trial results of a weight loss pill.

Deutsche Bank

— Shares went up 3% after receiving an upgrade to overweight by Morgan Stanley. The firm suggested that the German bank still has potential for growth, despite a robust gain in 2024.

Trump Media & Technology Group

— Shares of the former President Donald Trump’s social media firm jumped almost 14% after its initial outing as a publicly traded company.

Merck

— Shares achieved a roughly 5% increase after the Food and Drug Administration sanctioned the use of Merck’s life-threatening lung condition drug, Winrevair, for adults suffering from pulmonary arterial hypertension.

Carnival

— Shares rose 2% in anticipation of the cruise line’s first-quarter earnings report, due before the bell. Analysts from FactSet projected a 17 cent loss per share and quarterly earnings of $5.33 billion. Although Carnival’s shares had a 130% surge in 2023 during the industry’s recovery from Covid, they have fallen by 8% so far this year, trailing behind its competitors.

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Stocks making the biggest moves premarket: Robinhood, GameStop, Merck and more

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