Home Depot, Citigroup, United Airlines Rise Premarket; Walmart, Twitter Fall
2022.05.17 16:17
By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Tuesday, May 17th. Please refresh for updates.
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Home Depot (NYSE:HD) stock rose 4.6% after the retailer increased its full-year sales forecast as demand for home improvement tools and building materials helds up even as the pandemic restrictions eased.
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Walmart (NYSE:WMT) stock fell 7.2% after the U.S.’s biggest retailer missed quarterly earnings forecast by a wide margin and warned that inflation will eat into its profits over the rest of the year.
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JD.com (NASDAQ:JD) ADRs rose 9.1% after the China-based retailer beat estimates for quarterly revenue, as more people shopped on its e-commerce platform following COVID lockdowns in Mainland China.
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Twitter (NYSE:TWTR) stock fell 2.8% after billionaire Elon Musk said his $44 billion offer for the social messaging platform would not move forward until he was shown proof that spambots account for less than 5% of its total users.
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Citigroup (NYSE:C) stock rose 5.3% after Warren Buffett’s Berkshire Hathaway (NYSE:BRKa) disclosed a nearly $3 billion investment in the U.S. lender, looking for value in the beaten-down sector.
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United Airlines (NASDAQ:UAL) stock rose 4.7% after the carrier raised its revenue estimate for the current quarter despite trimming capacity, underscoring booming travel demand.
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Take-Two (NASDAQ:TTWO) stock rose 7.1% after the video-gaming company reported a rise in quarterly net bookings of 8%, thanks to flagship titles like “Grand Theft Auto V” and the new “WWE 2K22”.
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Workday (NASDAQ:WDAY) stock fell 1.5% after UBS downgraded its stance on the HR software stock to ‘neutral’ from ‘buy’, saying it could be hit hard during a downturn.
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Advanced Micro Devices (NASDAQ:AMD) stock rose 3.7% after Piper Sandler upgraded its stance on the chipmaker to ‘overweight’ from ‘neutral’, saying it can surge nearly 50% after its big pullback this year.
