Finance

In this article

Take a look at some of the biggest movers in the premarket:

Tesla (TSLA) — Shares fell 1.2% in premarket trading after CEO Elon Musk challenged the United Auto Workers union to try and organize his company’s assembly plant in Fremont, California.

Sweetgreen (SG) — Sweetgreen shares soared 19.9% in premarket trading after the salad chain reported strong sales growth in its first quarterly report since going public in November. The company also posted widening losses.

Gap (GPS) — Shares surged 7% in premarket trading after the retailer reported a narrower-than-expected loss for the fourth quarter and issued strong earnings guidance. Gap posted a loss of 2 cents per share, versus the 14 cents forecast by Refinitiv analysts. Revenue also beat estimates.

Costco Wholesale (COST) — The retail stock retreated 2% after a better-than-expected quarterly report. Costco reported fiscal second-quarter earnings of $2.92 per share on revenue of $51.9 billion. Analysts surveyed by Refinitiv had expected earnings of $2.74 on revenue of $51.47 billion.

Marvell Technology (MRVL) — Shares dipped 2.3% despite a slight earnings beat. Marvell reported fourth-quarter earnings of 50 cents per share, excluding items, on revenue of $1.34 billion. Analysts had expected a profit of 48 cents per share on revenues of $1.32 billion, according to Refinitv.

Broadcom (AVGO) — The chip stock rose more than 3% premarket after Broadcom beat Wall Street expectations for its fiscal first quarter. The company reported adjusted earnings of $8.39 per share, while analysts surveyed by Refinitiv were looking for $8.08 per share. The firm’s second-quarter revenue guidance also came in above expectations.

Best Buy (BBY) — The retail stock dipped 2% in early morning trading after Raymond James downgraded Best Buy to market perform from outperform. “We are placing our stock recommendation in ‘sleep mode’ for now,” Raymond James said.

Articles You May Like

Spotify shares pop on better-than-expected profit forecast
Embattled fashion house Burberry reveals massive overhaul sending shares to an all-time high
Jim Cramer’s week ahead: Earnings from Nvidia, TJX and Walmart
What investors need to consider when choosing a dividend-paying fund
Alabama Expands Tax-Free Overtime Eligibility, but Should Repeal Entire Exemption