Let’s have a look at the top stocks making biggest moves:
Darden Restaurants (DRI)
The parent company of Olive Garden and other restaurant chains announced quarterly earnings of $1.93 per share. Missing analysts expectations of $2.10 per share, with revenue and comparable-store sales also falling short of expectations. In January, the omicron version had a substantial influence on guest demand, personnel numbers, and costs, according to Darden, but the situation has since improved. Darden’s stock dropped 1.7 percent in premarket trading.
KB Home (KBH)
A home improvement company based in the U.S. With quarterly earnings of $1.47 per share, KB Home missed Wall Street expectations by 9 cents. And revenue also fell short of expectations. KB Home said it was having supply and labor challenges, which were preventing it from finishing the home building. In premarket trading, KB Home shares fell 3.6 percent.
Spotify Technology (SPOT)
Spotify’s stock gained 3.7 percent in premarket trading after a deal with Alphabet’s (GOOGL) Google. That allows users to join up for the service straight through the Google Play store. Also, Match Group (MTCH), a dating services provider that has fought Google over app store fees, rose 3.4 percent in response to the Spotify announcement.
Nikola (NKLA)
Nikola stock rose 15.1 percent in premarket trading after the company said last week that electric truck manufacturing had begun at its Coolidge, Arizona, factory, achieving a goal stated in the company’s most recent quarterly financial report last month.
GameStop (GME)
GameStop’s stock rose 14.5 percent on Wednesday. GME marked the gaming retailer’s seventh straight day of advances after Chairman Ryan Cohen acquired 100,000 more shares and increased his ownership to 11.9 percent. In premarket trading, GameStop fell 5.2 percent.
FactSet (FDS)
The financial data and analytics company announced an adjusted quarterly profit of $3.27 per share, versus a consensus estimate of $2.98. Revenue was also above Wall Street expectations, prompting FactSet to provide a positive outlook.
TCOM (Trip.com)
Trip.com rose 6.2 percent in premarket trading after the China-based travel services company reported an unexpected profit. And revenue that was above analyst expectations for the most recent quarter.
Steelcase (SCS)
A company that manufactures furniture. Although revenue exceeded expert expectations, the office furniture producer recorded an unexpected loss for the most recent quarter. Supply chain disruptions and inflationary pressures, according to Steelcase, had an impact on its earnings. It also gave a prediction that was lower than expected, and its stock dropped 5.4 percent in premarket trade.
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