Check out the companies that made headlines hours ago:
GameStop (GME) – GameStop plans to seek shareholder approval to increase the number of outstanding shares to enable a stock split. Videogame retailers are proposing an increase from 300 million to 1 billion shares. The stock rose 16.6% in the primary market.
Apple (AAPL) – JPMorgan Securities has removed the stock from its “analyst focus list”, saying a moderation in consumer spending could limit the potential for iPhone SE launch benefits and rising service revenue. However, the firm maintains an “overweight” rating on the stock.
BlackBerry (BB) – BlackBerry posted an unexpected profit for its most recent quarter, but the communications software company’s revenue fell short of analysts’ forecasts. The growth of cyber security units has been flat and there has been a revenue deficit. Shares in Premarket Trading fell 4.4%.
Wynn Resorts (WYNN) – Citi added 1.6% to the stock market of resort and casino operators after upgrading from “neutral” to “buy”. City Macau noted an interesting assessment, along with growing transparency on regulations and licensing.
Li Auto (LI) – China Auto-based electric vehicle maker reported 31,716 vehicle deliveries in March, after which Li Auto premarket traded up 6.6%, more than double the year before.
Nio (NIO) – China-based electric vehicle company Nio delivered 9,985 vehicles in March, up 37.6% from a year earlier. Nio shares jumped 5.8% in premarket trading.
HYCRAFT MINING (HYMC) – a small-cap mining company – best known for investing in movie theater chain AMC Entertainment (AMC) – added 3% to the premarket after reporting an expected quarterly loss. AMC shares rose 4.6%.
Poshmark (POSH) – The online garment marketplace operator’s stock fell 2.2% in pre-market trading after Steiffel downgraded the “hold” rating from “Purchase”. Steffel said the company faces many growth challenges despite the potential for healthier profits and a highly employed user base.