Take a look at some of the biggest movers in the premarket:
Stitch Fix (SFIX) – Stitch Fix lost 18 cents per share in the first quarter, less than the 27 cents per share analysts expected. The online clothing styling company’s sales were above estimates. Stitch Fix also gave an optimistic forecast as the active customer base grew 20% year over year. Shares rose 14.8% ahead of the launch.
Contango Oil & Gas (MCF) – The energy producer agreed to join forces with KKR’s Independence Energy business (KKR) in an all-stock deal. The combined company will have an initial market capitalization of approximately $ 4.8 billion. The Contango share rose 10.3% in pre-market trading.
Coupa Software (COUP) – Coupa reported quarterly earnings of 7 cents per share, compared to Wall Street projections for a loss of 19 cents per share. Revenue exceeded estimates and the financial software company was also optimistic. Despite the positive numbers, the Coupa share lost 9.2% in pre-market trading.
Thor Industries (THO) – The recreational vehicle manufacturer’s shares rose 3.4% in the pre-market after beating estimates for both revenue and earnings for the third fiscal quarter. Sales more than doubled year over year, and the company sees no signs of slowing demand.
Chico’s FAS (CHS) – Chico’s premarket was up 6.6% after the clothing retailer announced it was taking all appropriate steps to improve performance and increase shareholder value. The statement was in response to a letter from activist investor Barington Capital to management. Regardless, Chico has outperformed quarterly earnings and sales that beat Wall Street projections.
Fastly (FSLY) – The cloud computing company’s stocks fell 1.7% in the premarket, but hit previous lows due to an internet outage affecting Fastly-supported websites. Shortly after the outage, Fastly said it had identified the problem and was implementing a solution.
Tesla (TSLA) – The automaker shipped 33,463 China-made vehicles in this market in May, 29% more than in April when production was impacted by a maintenance shutdown. Tesla gained 3% in the premarket.
AMC Entertainment (AMC) – AMC insiders sold stocks amid a social media-fueled rally in the company’s shares. According to a study of insider filings by analytics firm InsiderScore, seven AMC insiders have sold portions of their stake since May 28, out of nine who made sales this quarter, even though CEO Adam Aron is not among them. There were no AMC insider sales in 2020. AMC gained 4.3% in the premarket.
Marvell Technology (MRVL) – Marvell shares rose 5.5% in pre-trading hours after beating Wall Street estimates for both sales and earnings for the first quarter. The chip maker also expects its sales to exceed $ 1 billion for the first time in the current quarter.
Keurig Dr Pepper (KDP) – The beverage company’s stock lost 3.6% in the premarket after it announced a second offer of 28 million common shares to be sold on behalf of the food manufacturer and Keurig Dr Pepper shareholder Mondelez (MDLZ). Keurig Dr. Pepper will not receive any proceeds from the offer.
Vail Resorts (MTN) – Vail Resorts beat estimates by 18 cents per share with quarterly earnings of $ 6.72 per share. The resort operator also saw top sales forecasts. Vail said that compared to pre-pandemic results in 2019, pass sales increased 50% in terms of units and 33% in dollar terms as the company reduced season ticket sales prices by 20%.
Etsy (ETSY) – Etsy announced a private offering of $ 1 billion in convertible bonds, with the online craft marketplace planning to use the proceeds to fund share buybacks and general corporate purposes. Etsy is down 1.9% in pre-hours trading.