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Stocks making the biggest moves in the premarket: RH, Signet Jewelers, GameStop & more

Stocks making the biggest moves in the premarket: RH, Signet Jewelers, GameStop & more

10 Jun 2021

Take a look at some of the biggest movers in the premarket:

RH (RH) – RH surged 8.4% in premarket trading after it reported quarterly profit of $4.89 per share, above the $4.10 a share consensus estimate. The home furnishings retailer formerly-known as Restoration Hardware also reported better-than-expected revenue and raised its full-year outlook.

Signet Jewelers (SIG) – Signet surged 6.3% in premarket trading after it trounced a $1.27 consensus estimate with quarterly earnings of $2.23 per share. The jewelry retailer’s revenue also beat estimates as same-store sales more than doubled from a year earlier. Signet raised its full-year revenue forecast as well.

GameStop (GME) – GameStop revamped its executive suite by hiring two former Amazon executives to top positions, with Matt Furlong named CEO and Mike Recupero tapped as chief financial officer. Additionally, the video game retailer reported better-than-expected quarterly results, and said the Securities and Exchange Commission was seeking information on the recent trading frenzy in its stock. GameStop also said it may sell 5 million additional shares from time to time. Its shares dropped 5.5% in the premarket.

Clover Health (CLOV), Wendy’s (WEN), WWE (WWE), Clean Energy Fuels (CLNE) – The newest of the so-called “meme stocks’ remain on watch today, as they pick up social media interest. Health insurance provider Clover rose 1.8% in the premarket after a 23.6% drop Wednesday; Wendy’s gained 1.8% after plunging 12.7% yesterday; and wrestling and entertainment company WWE rose 2.4% premarket after a 10.9% jump Wednesday. Clean Energy Fuels – a California-based natural gas provider – rallied 5.6% in premarket trading after a 31.5% surge Wednesday.

The Original BARK Company (BARK) – Jefferies began coverage of the dog products company with a “buy” rating, citing strong subscription growth and a move to parlay brand equity into new categories. The company formerly known as BarkBox began trading under its new name and ticker symbol last week, following its merger with blank-check company Northern Star Acquisition. The stock added 3.8% in premarket action.

ServiceNow (NOW) – The provider of workflow platforms saw its stock rise 2.4% in the premarket after it was added to the “Conviction Buy” list at Goldman Sachs. Goldman cites improving near-term fundamentals and the potential to accelerate subscription revenue.

Fastly (FSLY) – The cloud computing company’s shares fell 2.2% in the premarket following an Oppenheimer downgrade to “perform” from “outperform.” Oppenheimer said Fastly reacted to this week’s internet outage quickly and appropriately, but noted that the costs to customers for switching cloud providers is relatively low.

Boeing (BA) – United Airlines (UAL) is reportedly in advanced talks to buy a substantial number of large narrow-body jets that would include at least 100 Boeing 737 Max jets. People familiar with the matter told Bloomberg the talks are part of a broader fleet revamp at United. Boeing shares added 1% in premarket trading.

Tesla (TSLA) – Tesla plans to launch its new Model S Plaid today at its Fremont, California, plant, with the event set for 7:00 p.m. PT/10:00 p.m. ET. The high-end version of the Model S will cost just under $120,000 and has a projected driving range of 390 miles.

Roblox (RBLX) – Roblox faces a copyright infringement lawsuit from a group of music publishers. The video game platform company is accused of letting developers insert music players into games that play copyrighted music without permission or payment.

Verint Systems (VRNT) – Verint Systems reported quarterly profit of 44 cents per share, beating the 35 cents a share consensus estimate. The customer relationship software company’s revenue also came in above analysts’ forecasts and Verint raised its full-year guidance.