Stocks move in premarket trading as CarMax, AST SpaceMobile and Lionsgate react to news
Stocks to Watch: premarket movers shift on earnings, deals and analyst calls See who’s rising and falling before the bell and why traders are reacting fast
Several companies moved sharply before the opening bell on Wednesday, with gains and losses driven by earnings reports, analyst calls, and corporate news.
CarMax rose after reporting fiscal firstquarter results that beat Wall Street expectations for both earnings and revenue. AST SpaceMobile climbed after saying it launched three more satellites, a step in expanding its spacebased cellular broadband network. LaZBoy also advanced after stronger retail sales and a betterthanexpected quarterly report.
On the downside, Lionsgate Studios fell after Netflix denied reports that it was considering an acquisition. Oracle slipped after pushing back on a report about Microsoft ending cloud infrastructure lease talks. In the chip sector, several names including Intel, AMD, Broadcom, and Qualcomm recovered from the previous day’s selloff, while Figma gained after Citi started coverage with a buy rating and Jabil declined despite beating estimates.