Stocks making the biggest moves premarket: Disney, Super Micro, Novo Nordisk, Uber and more
Check out the companies making headlines in premarket trading. Disney — Shares of the media and entertainment company advanced more than 7% after surpassing Wall Street’s second-quarter estimates. Disney reported adjusted earnings per share of $1.45 on revenue of $23.62 billion, while analysts polled by LSEG were looking for $1.20 per share and $23.14 billion, respectively. The company also raised its full-year earnings outlook to $5.75 per share, while Wall Street was looking for $5.43 per share. Separately, Disney agreed to partner with Miral to build a theme park and resort in Abu Dhabi . Super Micro Computer — The stock pulled back more than 6% after the server maker missed expectations for the fiscal third-quarter and offered weak guidance for the current quarter. Super Micro posted adjusted earnings of 31 cents per share on revenue of $4.6 billion, while analysts surveyed by LSEG had penciled in 50 cents per share and $5.42 billion in revenue. Wynn Resorts — Shares of the hotel and casino company rose about 3% after an upgrade to buy from neutral at Bank of America that focused on the company’s casino project in the Middle East. The move came despite Wynn’s first-quarter report that showed weak results in Macao. Las Vegas revenue saw smaller declines. Wynn earned $1.07 per share after adjustments in the latest quarter, below the $1.19 per share expected by analysts, according to LSEG. Logitech — Stock in the computer accessory company ticked up more than 1% following an upgrade to buy from UBS. Analyst Joern Iffert suggested that the stock has already pulled back aggressively and could now represent an attractive entry point for investors. Uber Technologies — The stock dropped 3% after the ride-sharing company reported revenue of $11.53 billion for its first quarter, missing the $11.62 billion LSEG consensus. However, Uber’s earnings topped expectations. Advanced Micro Devices — Shares of the chipmaker gained more than 1% following stronger-than-expected first-quarte results . AMD notched earnings per share of 96 cents on revenue of $7.44 billion, while analysts polled by LSEG forecast 94 cents per share and $7.13 billion. Novo Nordisk — U.S.-traded shares of the Danish drugmaker advanced almost 5% after the company said it sees sales of weight loss drug Wegovy growing in the second half of the year as compounded drugs are phased out. Sarepta Therapeutics — Shares tumbled 18% after posting a steep loss in the first-quarter, and slashing its full-year net product revenue forecast to a range of $2.30 billion to $2.60 billion. Analysts polled by FactSet were looking for that metric to be between $2.90 billion and $3.10 billion. Upstart Holdings — Stock in the artificial intelligence lending platform fell 17% after just barely beating Wall Street’s revenue outlook for both the full-year and current quarter. The company issued a beat on the top and bottom line in the first quarter. — CNBC’s Hakyung Kim, Michelle Fox, Jesse Pound and Sean Conlon contributed reporting.
