Take a look at some of the biggest drivers in Primarket:
Zoom video communication (ZM) — Zoom fell 11.5% in the primary market after the video conferencing company cut its full-year forecast. Zoom reported better-than-expected earnings for the fourth quarter, but revenue was below expectations. Zoom’s chief financial officer said the company is having some difficulty attracting new paying subscribers, though he added that corporate sales are solid.
Palo Alto Networks (Pano) — Palo Alto surged 9.3% in pre-market trading after the cybersecurity firm reported better-than-expected quarterly results and issued an optimistic outlook. Palo Alto also announced that its board of directors approved a 3-for-1 stock split.
Messi (M) – Retailer stock added 2.5% in pre- and post-market trading Beat sales and profit expectations In the second quarter, comparable store sales fell less than expected. However, it has lowered Macy’s full-year guidance to include risks from a slowing economy.
Dick sporting goods (DKS) – Retailer of sporting goods Beat the high and low scores for the second quarter and raised its full-year forecast. Like-store sales fell 5.1% during the quarter, but that was less than the 6.9% decline analysts had expected. The stock gained 2.3% in the primary market.
Medtronic (MDT) — Medtronic posted a 1% gain in the primary market after reporting quarterly earnings and revenue that beat analyst expectations. Revenues are down from last year as the medical products maker is affected by supply chain challenges.
JD.com (JD) – The China-based e-commerce company reported better-than-expected quarterly results and saw a 9.2% increase in active customer accounts. JD.com jumped 4.3% in pre-market activity.
Discover Warner Bros. (WBD) — Nearly 10 million viewers watched the “Game of Thrones” prequel “House of the Dragon” on the company’s HBO Max service, a record for the debut of an HBO series. Warner Bros. Discovery gained 1.4% in the primary market.
GM Smoker (SJM) — Food producers stock added 1.8% in pre-market trading after it reported better-than-expected quarterly earnings and raised its full-year forecast.
XPeng (XPEV) — XPeng fell 4.9% in pre-market activity after the China electric vehicle maker reported a wider-than-expected quarterly loss, although revenue beat analysts’ expectations as total deliveries nearly doubled from a year earlier.
Bindudu (PDD) – Pinduoduo plans to launch an international e-commerce platform next month, according to a source familiar with the matter who spoke to Reuters. Pinduoduo stock is up 2.6% in pre-market trading.
“Twitteraholic. Total bacon fan. Explorer. Typical social media practitioner. Beer maven. Web aficionado.”