Check out some of the biggest movers in the premarket:
GameStop (GME) – GameStop remains vigilant following a new Reddit-fueled rise in the video game retailer’s stock Wednesday, as well as other so-called “Reddit stocks” such as BlackBerry (BB), AMC Entertainment (AMC) and Koss Corp. (KOSS). GameStop was up 55.8% for the market, while AMC was up 12.9%, BlackBerry gained 4.3% and Koss gained 81.3%.
Best Buy (BBY) – Shares of the electronics retailer fell 5.3% in premarket trading after its sales and comparable store sales missed Wall Street forecasts for the holiday quarter as the pandemic weakened demand for electronics. However, Best Buy’s quarterly earnings of $ 3.48 per share exceed estimates by 3 cents per share.
Moderna (MRNA) – Shares of the drug manufacturer were up 2.9% in premarket action as quarterly sales far exceeded estimates and it forecast $ 18.4 billion in Covid-19 vaccine sales this year. However, Moderna reported a quarterly loss of 69 cents a share, more than the 35 cents a share analysts had expected.
Wayfair (W) – The furniture and home goods retailer earned $ 1.24 a share for the last quarter, above the consensus estimate of 86 cents a share. Sales were slightly below Wall Street’s forecasts, as were orders and stocks down 9% for the market.
Norwegian Cruise Line (NCLH) – Shares of the cruise line operator rose 1.9% in the premarket after quarterly sales were well above estimates, despite the Covid-19-related cruising shutdown. The loss of $ 2.33 per share for the last quarter was slightly greater than the consensus estimate of $ 2.17 per share.
Anheuser-Busch InBev (BUD) – Anheuser-Busch reported better-than-expected earnings and revenues for the fourth quarter. The company also forecasts higher revenues for 2021, but the brewer said its profit margins would be hurt by higher raw material costs. Its shares fell 5.3% in premarket trading.
ViacomCBS (VIAC) – ViacomCBS was 2 cents per share higher than expected, with a quarterly profit of $ 1.04 per share. Sales were essentially in line with Wall Street’s forecasts. The company also said it had 30 million streaming subscribers ahead of the planned March 4 launch of the Paramount + service that will replace the current CBS All Access service. Its shares fell 2.8% in premarket action.
Teladoc Health (TDOC) – Teladoc fell 6.5% in premarket trading after reporting a loss of 27 cents a share for the last quarter, 3 cents a share higher than Wall Street had expected. The medical video visit provider’s revenues were above estimates.
Nvidia (NVDA) – Nvidia reported quarterly earnings of $ 3.10 per share, compared to $ 2.81 according to a consensus estimate of the stock. The company best known for its gaming chips also saw its revenue estimates surpassed. Nvidia also forecast strong earnings for the current quarter, but shares were down 2.6% in premarket action.
Fisker (FSR) – Fisker has signed a deal with contract manufacturer Foxconn Technology to assemble cars for electric vehicle start-ups. Under the agreement, the companies must jointly produce more than 250,000 vehicles annually. Shares fell 1% for the market.
Pfizer (PFE) – According to an Israeli study, the Covid-19 vaccine developed by Pfizer and BioNTech (BNTX) works equally well in all age groups. It provided 94% protection against the development of coronavirus symptoms one week after the second dose of the vaccine and 92% effective in preventing serious illness.
Verizon (VZ) – Verizon was the highest bidder in a government auction of 5G airwaves, spending $ 45.5 billion, while AT&T (T) offered $ 23.4 billion and T-Mobile US (TMUS) $ 9.3 billion .
Pure Storage (PSTG) – Pure Storage was 4 cents a share higher than expected, with a quarterly profit of 13 cents a share. The business memory storage provider also saw sales beat Wall Street forecasts. Pure Storage gave a mixed forecast, but it was the first time it gave any forward direction since the pandemic started. Shares gained 2.5% in the premarket.
L Brands (LB) – L Brands made $ 3.30 a share for the last quarter, 12 cents a share above estimates. The Victoria’s Secret parent’s earnings fell short of forecasts. L Brands, which also owns the Bath & Body Works chain, provided strong earnings expectations for the current quarter. L Brands rose 2.7% in the premarket.