Check out some of the largest moving companies on the pre-market:
Amazon.com (AMZN) – A European Union court ruled in $ 303 million in tax proceedings in favor of Amazon and overturned an EU mandate requiring Amazon to repay taxes to Luxembourg. The court denied claims that Amazon received an unfairly favorable tax deal.
Wendy’s (WEN) – Wendy’s shares rose 4.2% in premarket trading after beating income estimates, and posted better-than-expected sales of comparable restaurants for the last quarter. Wendy’s also raised its outlook for the full year, increased the dividend and increased the share buyback plan.
fuboTV (FUBO) – FuboTV’s shares rose 22.5% in the pre-market after the streaming sports program provider reported better-than-expected quarterly revenue and raised its full-year outlook. It reported a loss of 59 cents per share in the first quarter, which was greater than the loss of 46 cents per share that Wall Street analysts had expected.
Wolverine World Wide (WWW) – The shoe and clothing maker agreed with the estimates with quarterly earnings of 40 cents per share. Sales were slightly below estimates, but Wolverine increased its earnings and sales outlook for the full year. In the pre-market the shares fell by 2.7%.
Electronic Arts (EA) – Electronic Arts earned $ 1.23 per share in the most recent quarter, beating the consensus estimate of $ 1.05 per share. The video game maker’s earnings were also above Wall Street’s forecasts. EA issued an upbeat forecast for the year, assuming the pandemic-induced momentum will continue even as restrictions associated with Covid ease. Electronic Arts shares rose 2% in the pre-market.
Intuit (INTU) – The financial software company expects to beat the high end of its earnings and revenue guidance for fiscal year 2021. However, Intuit also warned that results for the quarter ended April 30 were negatively impacted by the federal government’s extension of the deadline for filing taxes to May 17.
Vizio (VZIO) – Vizio earned 2 cents per share in the first quarter, compared to Wall Street’s projections of a 10 cents per share loss for the smart TV maker. In Vizio’s first report since going public in March, sales were also above analysts’ forecasts. In premarket trading, shares fell 5.1%.
QuantumScape (QS) – QuantumScape lost 20 cents per share in the first quarter, compared to a consensus forecast of 7 cents per share. The startup battery maker didn’t report sales for the quarter that matched Wall Street’s expectations, despite the fact that the company had reached a contractual milestone with automaker Volkswagen by supplying battery cells for further testing. The share lost 4.6% in the pre-market business.
Diageo (DEO) – Diageo stock rose 3.9% after forecasting organic operating growth of at least 14% for fiscal year 2021 ending June 30. The world’s largest liquor maker also announced that it has restarted its share buyback program.
Lordstown Motors (RIDE) – Lordstown will adjust its financial results for 2020 in accordance with the Securities and Exchange Commission’s guidelines on special purpose vehicle accounting or SPACs. The manufacturer of electric pickups went public last October through a merger with the blank check company DiamondPeak Holdings. The share lost 2.8% in the pre-market.
Kontoor Brands (KTB) – Kontoor Brands has raised its earnings guidance and now expects annual earnings of $ 3.70 to $ 3.80 per share, compared to the previous guidance of $ 3.50 to $ 3.60 per share. The maker of Lee and Wrangler Jeans expects sales to decline as vaccinations increase and consumers spend more.
Lemonade (LMND) – The shares of the online insurance company fell 6.6% in the pre-market after the sales forecast for the current quarter turned out to be lighter than expected. Lemonade was on target with a loss of 81 cents per share in the first quarter while sales beat estimates.
Unity Software (U) – The 3D content platform provider lost 10 cents per share in the first quarter, less than Wall Street’s expected 12 cents per share. Sales were above estimates. In addition, Stifel has raised the share from “Hold” to “Buy”, thereby determining a decline of 52% compared to the December high and an optimistic quarterly report. The share rose 6.5% in the pre-market.