A GameStop location on 6th Avenue on March 23, 2021 in New York.
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Check out the companies making the biggest gains in premarket trading:
GameStop — Shares plunged nearly 21% in premarket trading. The company on Wednesday announced the ousting of CEO Matthew Furlong and said Ryan Cohen would take the chair.
Wynn Resorts, Las Vegas Sands — The casino operators both fell about 2% after Jeffries downgraded their ratings from “buy” to “hold.” The Wall Street firm said Macau’s recovery is already priced into shares.
Signet Jewelers — Shares fell nearly 11% after the jeweler released second-quarter sales and operating profit guidance that fell short of expectations. Signet also lowered its full-year earnings and sales guidance to below expectations, citing mounting macroeconomic pressures on consumers and a weaker-than-expected Mother’s Day.
Lucid — Shares rose about 2% after Zhu Jiang, head of Lucid’s China business, said the electric vehicle maker was preparing to enter the Chinese market. Portal also reported, citing a person familiar with the matter, that the company is considering setting up production in China.
T-Mobile – Shares of the wireless service provider are up about 1% in premarket trading after Wolfe Research upgraded T-Mobile to outperform its peers. The investment firm said T-Mobile stock could climb more than 20% after underperforming year to date.
Adobe — Shares rose about 2% after the company announced it will offer its artificial intelligence tool, Firefly, to large business customers. Firefly is available through the Firefly standalone app, Adobe Express, and Creative Cloud.
HashiCorp — Stock is down more than 22%, a day after the company reported a missed profit and a drop in first-quarter revenue. HashiCorp also announced targeted spending cuts and an 8% headcount reduction, citing the current customer and economic environment.
—CNBC’s Jesse Pound, Sarah Min and Brian Evans contributed coverage.