Several companies made headlines in premarket trading recently. Robinhood saw its shares rise over 6% after unveiling its Robinhood Gold Card, a credit card that allows cash back to be deposited into a brokerage account. Concentrix, a customer experience technology company, saw its shares slip nearly 4% after disappointing fiscal second-quarter earnings guidance. GameStop experienced a more significant decline, with shares plummeting over 17% following a large drop in revenue in the fourth quarter compared to the previous year. Moderna, a pharmaceutical company, saw its shares rise 3.5% after advancing three vaccines into final stage trials and receiving funding from Blackstone Life Sciences for its influenza program.
nCino, a cloud software company, gained around 12% after reporting a 13% increase in revenue in the first quarter compared to a year earlier. Krispy Kreme’s shares ticked up over 2% following a 39% surge in the prior session as the company announced an expansion of its partnership with McDonald’s to sell doughnuts at the fast food chain’s restaurants nationwide by 2026. Viking Therapeutics saw its shares advance nearly 3% after a significant gain in the prior session due to promising trial results for a weight loss pill. Deutsche Bank shares climbed 3% after an upgrade to overweight from Morgan Stanley. Meanwhile, Trump Media & Technology Group saw shares rise nearly 14% following its debut as a publicly traded company, and Merck saw a nearly 5% gain after the FDA approved its life-threatening lung condition treatment.
Carnival saw its shares add 2% ahead of its first-quarter earnings report, with analysts expecting a loss per share of 17 cents and quarterly revenue of $5.33 billion. The company’s stock surged 130% in 2023 as the industry recovered from the effects of Covid-19, but has since seen an 8% decline this year, lagging behind its peers. Overall, the market showed mixed performance with some companies experiencing gains and others facing declines. Investors will be keeping a close eye on these companies and their developments in the coming days.
