27 Mar HOOD, GME, MRK and more
Check out the companies making headlines in premarket trading. Robinhood — Shares of the brokerage firm jumped more than 6% after unveiling its Robinhood Gold Card, a credit card where cash back can be deposited into a brokerage account. Concentrix — Shares slipped nearly 4% on the back of disappointing fiscal second-quarter earnings guidance. The customer experience technology company also reiterated its full-year outlook for 2024. GameStop — Shares plummeted more than 17% after the video game retailer reported a large decline in revenue in the fourth quarter compared to the year-earlier period. The company added that it also reduced its workforce by an unspecified number throughout the quartet to cut costs. Moderna — Shares popped 3.5% after the pharmaceutical company said it advanced three vaccines into final stage trials. Separately, Blackstone Life Sciences said it will provide up to $750 million to fund Moderna’s influenza program. nCino — The cloud software company gained roughly 12% after the company posted a 13% increase in revenue in the first quarter compared to a year earlier. The company’s fourth-quarter earnings also beat analyst expectations. Krispy Kreme — Shares ticked up more than 2%, adding to its 39% surge from the prior session. On Tuesday, the company announced it would expand its partnership with McDonald’s to sell doughnuts at the fast food chain’s restaurants, with nationwide availability estimated by 2026. Viking Therapeutics — Shares advanced nearly 3%. In the prior session , the stock popped more than 15% on promising trial results for a weight loss pill. Deutsche Bank — Shares climbed 3% following an upgrade to overweight from Morgan Stanley. The firm said the German bank could have more room to run despite a strong gain in 2024. Trump Media & Technology Group — Shares of former President Donald Trump’s social media company climbed nearly 14% after making its debut as a publicly traded company a day earlier. Merck — Shares posted a nearly 5% gain after the Food and Drug Administration approved Merck’s life threatening lung condition treatment, Winrevair, for use among adults with pulmonary arterial hypertension . Carnival — Shares added 2% ahead of the cruise operator’s first-quarter earnings report, due before the bell. Analysts polled by FactSet expect a 17 cent loss per share and quarterly revenue of $5.33 billion. Carnival’s stock surged 130% in 2023 as the industry recovered from Covid but is down 8% so far this year, lagging its peers. — CNBC’s Michelle Fox, Sarah Min and Jesse Pound contributed reporting.