In premarket trading, several companies were making headlines. Robinhood saw a 6% jump in its shares after unveiling the Robinhood Gold Card, a credit card that allows cash back to be deposited into a brokerage account. Concentrix experienced a nearly 4% slip in its shares due to disappointing fiscal second-quarter earnings guidance. GameStop’s shares plummeted over 17% after reporting a significant decline in revenue in the fourth quarter and announcing a reduction in workforce to cut costs. Moderna’s shares rose 3.5% as the company advanced three vaccines into final stage trials, with Blackstone Life Sciences providing up to $750 million to fund its influenza program. nCino, a cloud software company, gained roughly 12% after posting a 13% increase in revenue in the first quarter and beating analyst expectations for fourth-quarter earnings. Krispy Kreme’s shares also ticked up 2% as it expanded its partnership with McDonald’s to sell doughnuts at the fast food chain’s restaurants with nationwide availability expected by 2026. Viking Therapeutics saw a nearly 3% increase in shares following promising trial results for a weight loss pill. Deutsche Bank’s shares climbed 3% after being upgraded to overweight by Morgan Stanley.
Trump Media & Technology Group, former President Donald Trump’s social media company, saw a nearly 14% increase in shares after its debut as a publicly traded company. Merck’s shares also rose nearly 5% after the FDA approved its treatment for a life-threatening lung condition, Winrevair, for use among adults with pulmonary arterial hypertension. Carnival’s shares added 2% ahead of its first-quarter earnings report, with analysts expecting a 17 cent loss per share and quarterly revenue of $5.33 billion. Carnival’s stock surged 130% in 2023 due to industry recovery from Covid but is down 8% so far this year, lagging its peers. Overall, these companies’ stock movements in premarket trading reflected a mix of positive and negative news, with some enjoying gains from positive developments and others facing challenges such as disappointing earnings guidance or revenue declines.
The Robinhood Gold Card, offering cash back deposited into a brokerage account, contributed to a 6% increase in Robinhood’s shares in premarket trading. On the other hand, Concentrix experienced a nearly 4% slip in shares due to disappointing fiscal second-quarter earnings guidance, while GameStop’s shares plummeted over 17% following a decline in revenue and a workforce reduction to cut costs. Moderna, on the other hand, saw a 3.5% increase in shares after advancing three vaccines to final stage trials and receiving up to $750 million from Blackstone Life Sciences for its influenza program. nCino posted a 12% increase in shares following a 13% revenue growth in the first quarter and beating analyst expectations for fourth-quarter earnings, while Krispy Kreme’s shares ticked up 2% as it expanded its partnership with McDonald’s.
Viking Therapeutics, Deutsche Bank, Trump Media & Technology Group, and Merck all saw increases in their share prices in premarket trading. Viking Therapeutics saw a nearly 3% increase in shares following promising trial results for a weight loss pill, while Deutsche Bank’s shares climbed 3% after an upgrade to overweight by Morgan Stanley. Trump Media & Technology Group, former President Donald Trump’s social media company, saw a nearly 14% increase in shares after its debut as a publicly traded company. Merck’s shares also rose nearly 5% after the FDA approved its treatment for a life-threatening lung condition for use among adults with pulmonary arterial hypertension. Carnival’s shares added 2% ahead of its first-quarter earnings report, with analysts expecting a 17 cent loss per share and quarterly revenue of $5.33 billion. Carnival’s stock surged 130% in 2023 due to industry recovery from Covid but is down 8% so far this year, lagging its peers.
Overall, the stock movements in premarket trading reflected a mix of positive and negative news for these companies. Some, like Robinhood and Moderna, enjoyed gains from positive developments such as new products and advancements in vaccine trials, while others, like Concentrix and GameStop, faced challenges such as disappointing earnings guidance or revenue declines. The success of companies like nCino, Viking Therapeutics, Deutsche Bank, Trump Media & Technology Group, Merck, and Carnival varied, with some seeing increases in their share prices due to promising trial results, upgrades by analysts, regulatory approvals, or anticipation of earnings reports. The market response to these companies in premarket trading served as a reflection of investor sentiment and reactions to recent news and developments impacting the companies.
