AMC, Boeing, GameStop – Wednesday’s Premarket Movers
Stock futures fell Wednesday ahead of Tesla and Apple gains.
Here are some of the top movers during Wednesday premarket trading.
1. AT & TT | 2.5% decrease
AT&T shares (T.) – Get the report fell early Wednesday morning, despite the telecommunications and media giant posting fourth-quarter profits that exceeded analysts’ expectations.
Adjusted earnings were 75 cents per share compared to 89 cents in the previous year. Analysts surveyed by FactSet had expected earnings per share of 73 cents.
Total revenue declined 2.4% to $ 45.69 billion, down from $ 46.8 billion a year earlier, but ahead of analysts’ estimates of $ 44.5 billion.
2. Boeing BA | 3.2% decrease
Boeing (BA) – Get the report Shares fell after the Chicago aerospace giant posted a far bigger-than-expected loss in the fourth quarter and delayed the rollout of its greater 777X. The aircraft manufacturer continues to grapple with generational changes in airline demand triggered by the global coronavirus pandemic.
3. Microsoft MSFT | Plus 1.6%
Microsoft shares (MSFT) – Get the report Premarket trading rose after the software and cloud giant posted fourth-quarter profits that were above estimates for better-than-expected ad revenue.
“I think one of the things we are seeing is that the covid impact has severely constrained all of our customers, but the only structural shift is that digital technology itself is vital to resilience and business continuity, which becomes a structural one changed customer behavior and expectations, “Satya Nadella, chief executive, told investors.
4. Advanced micro devices AMD | 3.9% decrease
Shares in Advanced Micro Devices (AMD) – Get the report slipped on Wednesday, even after the chipmaker posted fourth-quarter profits that exceeded expectations.
AMD reported adjusted earnings per share of 52 cents in the fourth quarter, compared to analysts’ expectations of 47 cents. Revenue was $ 3.24 billion versus expectations of $ 3.03 billion.
5. GameStop GME | Plus 56%
GameStop shares (GME) – Get the report It jumped on Wednesday as Wall Street veterans and retail investors continued to clash, pushing the video game retailer’s stock higher.
GameStop, which is unlikely to make a profit before 2023, has tripled in the past three weeks to $ 4.5 billion in market value, according to Bloomberg.
6. AMC Entertainment AMC | Plus 231%
Shares of AMC Entertainment (AMC) – Get the report, a sharply shortened stock that more than tripled in early trading.