Market Insider

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

Tesla’s Timely Robotaxi Reveal: What to Expect This Evening
Top Wall Street analysts favor these stocks for attractive long-term potential
Introducing Robotaxi: A Launch to Ignite the Trillion-Dollar AV Revolution
3 Small-Cap Moves to Make for 2025 
How to Play the Next Big Thing: the Rise of Tesla’s Robotaxi