Premarket stocks move as Blackstone, Marvell, Palo Alto and others react to earnings and news
U.S. stock futures move on earnings, guidance and ratings across key sectors See the biggest premarket winners and losers shaping Wednesday's trading action
U.S. stock futures saw several notable premarket moves on Wednesday as investors reacted to earnings reports, guidance updates and analyst ratings across financial, tech and retail companies.
Among the biggest decliners, Blackstone, KKR and Blue Owl Capital fell after Bloomberg News reported that Partners Group had capped withdrawals from one of its private equity funds. Palo Alto Networks slipped even after beating quarterly earnings and revenue estimates and raising guidance, while GitLab dropped after issuing a weaker earnings outlook, announcing workforce cuts and saying it will exit 22 countries.
On the gainers’ side, Marvell Technology extended its sharp rally after Tuesday’s record jump, while Macy’s rose after reporting its strongest firstquarter growth in four years and lifting fullyear guidance. GameStop also climbed after posting strongerthanexpected adjusted earnings, and Yum Brands gained after an analyst upgrade. Other stocks, including Cboe Global Markets, Ulta Beauty, Ollie’s Bargain Outlet, Shake Shack and Medtronic, moved after a mix of earnings results, guidance changes and rating updates.