Stocks with the biggest gains before the market: NVDA, LYV, SNOW | Wilnesh News
Check out the companies making headlines in pre-market trading. Nvidia — Shares of Nvidia rose 7.4% on the back of strong first-quarter results, better-than-expected guidance and a 10-for-1 stock split announcement. Super Micro Computer and Advanced Micro Devices gained more than 5% and 3% respectively. Taiwan Semiconductor Manufacturing Co. — The chip maker forecast annual revenue growth of 10% for the global semiconductor industry, sending its shares up 2.4%. Live Nation – Shares of the concert giant fell 6% in premarket trading after Bloomberg reported that the Justice Department and a group of states are expected to file a lawsuit against the company in the Southern District of New York on Thursday over a fight related to the Ticketmaster monopoly. monopolistic behavior. Snowflake — Shares of Snowflake rose 3.8% after the cloud computing company beat Wall Street’s first-quarter revenue forecasts. Snowflake reported revenue of $829 million, while analysts polled by LSEG expected revenue of $786 million. However, adjusted earnings per share for the period came in at 14 cents, missing consensus estimates by 4 cents. News Corp. – Shares of News Corp. rose more than 5% Wednesday night after the media company announced a “multi-year global partnership” with OpenAI. As part of the deal, OpenAI can display content from News Corp Media in its ChatGPT chatbot. VF Corp — the parent company of The North Face and Vans — fell 13.6% after reporting an unexpected fourth-quarter loss per share and weak revenue. VF Corp lost 32 cents a share on revenue of $2.37 billion, while analysts polled by LSEG expected a profit of 1 cent a share on revenue of $2.41 billion. NetEase – The Chinese games maker’s U.S. shares fell 3.4% as first-quarter revenue was weaker than expected. NetEase also paid a smaller quarterly dividend than the previous quarter. Elf Beauty — Shares of the cosmetics maker rose 3.4%, handily beating the fiscal fourth-quarter consensus forecast among analysts polled by FactSet. Specifically, elf reported earnings per share (excluding items) of 53 cents on revenue of $321.1 million, while analysts expected earnings of just 33 cents per share on revenue of $292.6 million. However, full-year guidance was lower than expected. LiveRamp Holding — The ad tech company’s shares rose 14.5% on stronger-than-expected fourth-quarter earnings. On top of that, LiveRamp provided firm revenue guidance for the current quarter and full year. Cytokinetics — The biopharmaceutical company’s shares fell 14.7% after issuing $500 million in common stock. JPMorgan, Goldman Sachs and Morgan Stanley are the only joint bookrunners. DuPont de Nemours — Shares of DuPont de Nemours rose 5.3% after the company said it would split into three separate businesses. One of the Residential Industrial Solutions businesses will become the new DuPont. Both will revolve around electronics and water cleaning. Additionally, Chief Executive Ed Bred said he plans to step down as executive chairman of the board of directors on June 1 and be replaced by Chief Financial Officer Lori Koch. Alibaba – Shares of Alibaba fell 1.5% after Bloomberg News reported that the Chinese technology giant is considering selling convertible bonds to raise $5 billion. Bloomberg, citing anonymous sources, said the bond issuance could be launched as soon as this week. Take-Two Interactive Software — The video game stock rose 2.3% after Bank of America upgraded its rating to “buy” from “neutral.” The investment firm said in a note to clients that Take-Two’s game lineup looks strong this year, even though “Grand Theft Auto” is set to launch in the fall of 2025. Shares of Royal Bank of Canada (RBC) rose 5.8% after an upgrade from industry perform to outperform. Royal Bank of Canada said the stock has significant growth opportunities. HASBRO — Hasbro shares rose 3% after JPMorgan upgraded its rating on Hasbro to overweight from neutral, saying investors are underestimating the toymaker’s cost efficiencies and digital play forecasts. The Wall Street firm said it expects increases in both. —CNBC’s Jesse Pound, Pia Singh, Yun Li, Tanaya Macheel, Sarah Min and Michelle Fox contribute
