Premarket moves: Broadcom, Micron, Petco and Coinbase fall
Premarket stock movers hit semiconductors, crypto and retail after earnings See why Broadcom, Coinbase and more are under pressure before the open
U.S. stocks tied to semiconductors, crypto and retail were under pressure in premarket trading on June 4 after several companies released earnings and outlook updates.
Broadcom fell after reporting fiscal secondquarter revenue that missed analyst estimates, while other chip stocks including Micron, Super Micro Computer, Intel and AMD also moved lower. Cryptolinked shares such as Robinhood, Coinbase and Strategy declined as bitcoin dropped.
Other notable movers included Five Below and Petco, which fell after their outlooks disappointed Wall Street expectations. CrowdStrike, PVH and several healthcare names also traded sharply on companyspecific results and analyst rating changes.