Stocks are cashing big in pre-market: A look at some of the biggest movers
The biggest movers in the pre-market for today :
Alphabet: Alphabet recorded a profit for the second back-to-back quarter, earnings of $$26.29 per share in comparison to a consensus estimate of $15.82 a share. The company also declared a $50 billion share buyback. While its share rose 5.1% premarket
Spotify- The music streaming platform registered a less than expected loss for its latest quarter and reported a 24% increase in monthly active users. its shares slipped to 7.8% in the premarket.
Pinterest’s shares dipped to 11.9% in the premarket, even though it beat estimates on both the top and bottom lines for its latest quarter. The investors are expecting a slowdown in user growth for the company
Shopify – The e-shopping platform shares rallied 5.5% in the premarket after registering better-than-expected earnings and revenue for its latest quarter. However, Shopify continues to earn from the increase in online shopping.
Boeing – the jet maker company lost $1.53 per share compared to a consensus forecast for a loss of $1.15 per share. While the revenue generated was better than expected, the company stated that the covid-19 pandemic has acted as a challenge to the overall market atmosphere. Boeing dipped 1.2% in premarket trading.
Starbucks – The coffee chain beat estimates by 9 cents a share, with quarterly earnings of 62 cents per share. Due to the weak international market, revenue registered in short of forecasts. The company stated that US sales have recovered to their pre-pandemic levels. It recorded a slip of 1.6% in its shares in premarket trading.