Apple phones on display in an Apple store in Miami, Florida, May 4, 2023.
Joe Raedle | Getty Images
Discover the latest premarket trading news from top companies.
Apple — Following a report by Bloomberg Newsstating that China intends to expand its ban on iPhone use to state-owned corporations, Apple shares experienced a decline of over 2.6%. The Wall Street Journalpreviously reported that China was planning to restrict the usage of iPhones and other foreign-branded devices in government agencies.
Dutch Bros — Dutch Bros saw a 6% drop in premarket trading after announcing a public offering of $300 million worth of its Class A common stock after the market closed on Wednesday.
Dave & Buster’s — Following weaker-than-expected second-quarter earnings, shares of the entertainment and dining company dropped over 3%. Dave & Buster’s reported a profit of 60 cents per share on $542 million of revenue, falling short of analysts’ expectations of 93 cents per share on $559 million of revenue. Comparable sales also declined year over year on a pro forma basis.
McDonald’s — Wells Fargo upgraded the fast-food chain’s stock to overweight from equal weight, resulting in a premarket gain of nearly 1%. The upgrade was based on Wells Fargo’s belief that McDonald’s is excelling in innovation and may experience growth in the second half of the year.
ChargePoint Holdings — Shares of the electric vehicle charging infrastructure company plummeted by 11.6% after missing estimates for the fiscal second quarter. ChargePoint’s revenue was $150 million, falling short of analysts’ forecast of $153 million. The company also announced plans to reduce its global workforce by approximately 10%.
WestRock — After The Wall Street Journalreported that the company is close to merging with Europe’s Smurfit Kappa in a deal valued at approximately $20 billion, WestRock’s shares climbed 6.7%. This merger would create a global paper and packaging powerhouse.
C3.ai — The artificial intelligence software company experienced a 9.2% plunge after projecting a larger-than-expected operating loss for the fiscal second quarter. C3.ai forecasted an operating loss of $27 million to $40 million, while analysts predicted a loss of $20.5 million. For the latest quarter, C3.ai reported a loss of 9 cents per share, excluding items, on revenue of $72.4 million, with analysts’ expectations at a loss of 17 cents per share on revenue of $71.6 million.
Roku — Following a downgrade from Loop Capital to hold from buy, the streaming stock saw
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Denial of responsibility! Vigour Times is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
