Stocks move premarket on earnings, guidance and upgrades
Stocks move on earnings misses, M&A setbacks and share offerings See why Dave & Buster's, Enova and Etsy are leading premarket action
Dave & Buster's Entertainment fell sharply before the open after quarterly revenue, adjusted EBITDA and earnings all came in below Wall Street expectations. The company reported revenue of $544.1 million and an adjusted loss, disappointing investors in its secondquarter update.
Enova International dropped after it said it is withdrawing regulatory applications tied to its planned acquisition of Grasshopper Bancorp. The company reiterated thirdquarter and fullyear guidance and said it plans to speed up share repurchases.
Sysco slipped after announcing a common stock offering of 12.3 million shares priced at $81 each. Etsy rose after Oppenheimer upgraded the stock to outperform, citing potential benefits from artificial intelligence in virtual shopping and setting a $90 price target.