Check out the companies making headlines in premarket trading.
SoFi — The financial services platform added nearly 7%. A deal to raise the U.S. debt ceiling on track for a vote on Wednesday would resume student loan payments.
Carvana — Shares fell nearly 4% in premarket trading. Carvana stock has been on fire so far this year with a 189% gain from the start of 2023.
Anheuser-Busch — The beer giant declined 1.7%. Lower sales volume across the company’s portfolio of products underpinned the decline, with Bud Light leading the charge with a 25.7% fall for the week ending May 20, according to Evercore.
Hewlett Packard Enterprise — Hewlett Packard Enterprise fell nearly 8% on the back of mixed quarterly numbers. The company earned an adjusted 52 cents per share, beating a Refinitiv forecast of 48 cents per share. However, revenue of $6.97 billion was below a consensus estimate of $7.31 billion.
Twilio — Shares gained 3.6% after a report that Legion Partners is looking to make changes to the automated communications company’s board, as well as divestitures.
Ambarella — The chip stock shed 18% after Ambarella shared disappointing guidance for the second quarter. Ambarella expects second-quarter revenue between $60 million and $64 million. Analysts expected guidance around $66.9 million, according to StreetAccount.
Advance Auto Parts — The car parts retailer plummeted more than 25% after a wide earnings miss. The company reported an adjusted 72 cents per share against a Refinitiv consensus forecast of $2.57 per share. Advance Auto Parts also slashed its quarterly dividend.
C3.AI — The artificial intelligence stock declined 5.8% ahead of of quarterly results on Wednesday. Analysts polled by FactSet forecast an adjusted quarterly profit of 3 cents per share.
American Airlines – Shares of the air carrier rose about 2% premarket after the company raised expectations for the second quarter. American increased its earnings per share expectation from between $1.20 and $1.40 to between $1.45 and $1.65. It also increased its margin expectations, to between 12.5% and 14.5% from between 11% and 13%.
— CNBC’s Samantha Subin, Fred Imbert and Tanaya Macheel contributed reporting
Source: Finance - cnbc.com
