Macy’s, Twitter, Dollar General Rise Premarket; Nvidia, Apple Fall
2022.05.26 15:12
By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Thursday, May 26th. Please refresh for updates.
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Nvidia (NASDAQ:NVDA) stock fell 4.2% after the chipmaker warned that it lost $500 million in sales in China and Russia in the current quarter as gaming demand slowed.
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Snowflake (NYSE:SNOW) stock fell over 13% after the data analytics software maker issued disappointing guidance for the current quarter, expecting its adjusted operating margin to be negative.
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Apple (NASDAQ:AAPL) stock fell 1.2% after Bloomberg reported that the company expects not to increase production of its iPhones this year, as lockdowns in China have disrupted its business.
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Twitter (NYSE:TWTR) stock rose 5.7% after a filing showed that billionaire Elon Musk lifted his personal commitment in buying the social messaging network by $6.25 billion to $33.5 billion and was also in talks with shareholders for additional financing commitments to fund the deal.
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Macy’s (NYSE:M) stock soared 14.2% after the department store raised its full-year profit forecast, helped by strong demand for apparel from consumers returning to work and social events.
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VMware (NYSE:VMW) stock rose 1.5% after Broadcom (NASDAQ:AVGO), down 1.8%, said it will buy the cloud service provider in a $61 billion cash-and-stock deal to further diversify the chipmaker’s business into enterprise software.
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Dollar General (NYSE:DG) stock rose 11% after the discount store operator raised its sales forecast for the year, as more Americans sought out bargains with inflation soaring.
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Alibaba (NYSE:BABA) ADRs rose 4.4% after the Chinese e-commerce giant beat market expectations for fourth quarter revenue, helped by demand for its ecommerce and cloud services as lockdowns in the country’s biggest cities prompted more remote work.
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Williams-Sonoma (NYSE:WSM) stock rose 9.1% after the home furnishing retailer reported strong first quarter results, with high net worth customers still spending despite inflationary pressures.
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Southwest Airlines (NYSE:LUV) stock rose 2% after the carrier raised its second-quarter operating revenue forecast, as travel demand rebounds strongly from pandemic lows.
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Dollar Tree (NASDAQ:DLTR) stock rose over 15% after the discount retailer increased its sales forecast for the year as customers looked for cheaper options as record-high inflation depleted their spending power.
