Take a look at some of the biggest movers in the premarket:
AMC Entertainment (AMC) – AMC has filed “from time to time” to sell up to 11.55 million common shares, according to a filing by the Securities and Exchange Commission, but has cautioned against investing in the stock “unrelated to” due to recent moves our underlying business ”. “AMC was initially up on the premarket after nearly doubling on Wednesday, but fell 9.7% after filing.
BlackBerry (BB), Koss (KOSS), GameStop (GME), Bed Bath & Beyond (BBBY) – These stocks are on guard today after fueling investor excitement for what are known as “meme” stocks yesterday. BlackBerry rose 11.2% in the premarket, but Koss fell 10.1%, GameStop lost 2.3% and Bed Bath & Beyond fell 12.9% after rising 62% on Wednesday.
Express (EXPR) – The clothing retailer reported a quarterly loss of 55 cents per share, less than the 58 cents per share analysts had expected. Revenue exceeded Street predictions, and Express said it expects sequential comparable revenue growth this year. Its shares fell 7.1% in the premarket after an initial rise.
Meredith Corp. (MDP) – Meredith accepted a revised offer from Gray Television (GTN) for its local media group. Meredith shareholders will now receive $ 16.99 per share in cash, up from the previous $ 14.51 per share, plus one share of the new version of Meredith upon closing.
Ciena (CIEN) – The network equipment and services company reported quarterly earnings of 62 cents per share, 14 cents per share above estimates. Sales were also above the analysts’ forecasts. Ciena said an improving market environment and a rebound in customer spending helped. Ciena gained 1.1% in pre-trading.
JM Smucker (SJM) – The food maker beat estimates by 22 cents per share, with quarterly earnings of $ 1.89 per share. Sales were slightly above forecasts. However, sales fell year-over-year as consumers stocked up on their homes in the wake of the pandemic. Smucker issued an optimistic earnings forecast for the full year.
PVH (PVH) – PVH earned $ 1.92 per share in the most recent quarter, more than double the consensus estimate of 83 cents per share. The company behind clothing brands like Tommy Hilfiger and Calvin Klein also exceeded sales estimates and also raised its forecast for the year.
Exxon Mobil (XOM) – Exxon said in an SEC filing that hedge fund Engine No. 1 won a third seat on the board of the energy giant. Engine No. 1 – a small investor in Exxon – won a surprising victory with a campaign that focused on environmental concerns.
FireEye (FEYE) – FireEye announced the sale of its security software product line – along with the name FireEye – to private equity firm Symphony Technology for $ 1.2 billion. The remaining business will be called Mandiant Solutions, the same name CEO Kevin Mandia’s business used before it was sold to FireEye in 2014. FireEye shares fell 7.5% in the premarket.
Emergent BioSolutions (EBS) – The Food and Drug Administration is working with Johnson & Johnson (JNJ) and AstraZeneca (AZN) to ensure that the Covid-19 vaccine doses manufactured at an Emergent facility in Baltimore are uncontaminated and safe to use are. This comes after the plant accidentally contaminated doses of J & J’s vaccine with the active ingredient in AstraZeneca’s treatment.
Splunk (SPLK) – Splunk reported an unexpectedly large loss for the first quarter, despite the network analysis software maker seeing revenue exceeding Wall Street forecasts. Splunk has migrated its customers to cloud-based versions of its software, and recurring cloud revenue increased 83% year over year for the quarter. Splunk lost 5.1% in pre-market trading.
Tilray (TLRY) – The cannabis producer’s shares rose 3.6% in pre-trading hours after Cantor Fitzgerald released new estimates and classified the stock as “overweight” following the completion of Tilray’s merger with Aphria. Cantor names the size of the combined company and positive prospects abroad.