Stock Market

In this article

A vehicle pulls out of a parking space outside an Advance Auto Parts Inc. store in Peoria, Illinois.
Daniel Acker | Bloomberg | Getty Images

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

Articles You May Like

US and Japan plan biggest upgrade to security pact in more than 60 years
Russian authorities say dozens dead in attack on Moscow concert venue
A weaker tone, retail pricing for $1.3B MTA deal, kick off FOMC week
Russia detains 11 suspects after deadly attack on Moscow concert hall
State tax revenues are slowing: analysts