Connect with us


Stocks experiencing significant movements before the market opens: Robinhood, Nvidia, Lululemon, Five Below, and others



In premarket trading, several companies were making headlines with their stock movements. Robinhood announced a $200 million deal to purchase crypto exchange Bitstamp, causing its stock to rise more than 3%. Nvidia saw a 1.8% increase in its stock price as it continued to build momentum from a recent rally that pushed its market cap above $3 trillion. Lululemon jumped 8.6% after reporting first-quarter results that surpassed analyst expectations, although it offered a weak outlook for the second quarter. Five Below slid 15.8% after providing soft current-quarter revenue guidance, falling short of analyst forecasts.

On the positive side, Smartsheet rallied 14% after reporting stronger-than-expected first-quarter results, with adjusted earnings of 32 cents per share and $263 million in revenue. Sprinklr, on the other hand, saw its stock drop 21.1% due to weak guidance for the current quarter and full year, with expected revenue below analysts’ consensus forecast. Sealed Air added 3% after a Mizuho upgrade to buy, citing a positive outlook for investors as volume hits an inflection point.

StoneCo rose 2.6% following an upgrade to overweight from JPMorgan, highlighting the company’s earnings per share potential and discounted valuation. Ultragenyx Pharmaceutical gained nearly 4% after an upgrade to buy from neutral at Goldman Sachs, citing upside potential in the biopharma’s rare disease pipeline. eBay rose 1% after being upgraded to buy from neutral at Citi, with improved growth outlook and earnings upside expected from buybacks. CH Robinson Worldwide traded higher by 1.2% after a UBS upgrade to neutral from sell, citing company initiatives for cost reduction and better execution.

Rubrik climbed 2.9% following a BMO Capital Markets upgrade to outperform, with a more attractive risk-to-reward ratio post-sell-off. Viridian Therapeutics advanced 2.5% after a buy rating initiation from Goldman Sachs, pointing to excitement about the company’s drug pipeline. Carvana rose 3.6% after being added to Evercore ISI’s tactical outperform list, ahead of key events such as a competitor conference, earnings report, and an inspection center tour. Shopify slipped 1.6% after a MoffettNathanson downgrade to neutral from buy, warning of potential unfavorable sales and marketing revisions. Fluence Energy fell 1.6% following a Guggenheim downgrade to neutral from buy, with shares deemed fairly valued after a recent increase.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *