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MSFT
-0.73%
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WBD
-0.49%
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AZO
-5.44%
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LOW
+2.94%
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PACW
+16.93%
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DKS
+0.03%
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YELP
+8.06%
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BABA
-1.57%
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RIDE
-4.60%
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Investing.com — Stocks in focus in premarket trade on Tuesday, May 23rd. Please refresh for updates.
Lowe’s (NYSE:LOW) stock fell 1.6% after the home improvement chain reported a decline in first quarter sales and lowered its full-year financial outlook, hit by a slowdown in discretionary spending by shoppers and softening lumber prices.
Dick’s Sporting Goods (NYSE:DKS) stock rose 2.8% after the retailer beat first quarter earnings expectations and reaffirmed its full-year outlook.
Yelp (NYSE:YELP) stock soared over 10% after activist investor TCS Capital Management called on the service-recommendation site to explore strategic options.
AutoZone (NYSE:AZO) stock fell 3% after the auto parts retailer reported a slowdown in comparable sales in its third quarter, hit by weaker-than-anticipated demand in March.
Lordstown Motors (NASDAQ:RIDE) stock fell 10% after the electric vehicle startup announced that it will effect a 1:15 reverse stock split on May 24.
Alibaba (NYSE:BABA) ADRs fell 1.5% after Bloomberg reported that the Chinese tech giant’s cloud division has begun a round of job cuts that could reduce its staff by about 7%.
PacWest Bancorp (NASDAQ:PACW) stock rose 15%, adding to Monday’s strong gains following the announcement of the lender’s plan to sell $2.6 billion worth of its loan portfolio to build capital.
Warner Bros Discovery (NASDAQ:WBD) stock rose 0.4% as the entertainment giant relaunches its HBO Max streaming service as “Max” in a bid for a wider audience.
Microsoft (NASDAQ:MSFT) stock rose 0.2% after Jefferies called the software giant a top pick, with a ‘buy’ rating, seeing more than 20% upside on AI enthusiasm.
Source: Investing.com
