An AMC theater in New York City, March 29, 2023.
Leonardo Munoz Corbis News | getty images
Check out the companies making headlines before the bell rings.
yam china – Shares rose more than 3% during premarket hours as the Chinese restaurant group announced new financial targets and unveiled plans to expand to 20,000 restaurants by 2026 during an investor day.
amc entertainment – Shares of the movie theater chain jumped 5% in premarket trading after AMC completed the equity offering announced earlier this month. The company said it sold 40 million shares at an average price of $8.14, raising about $325.5 million.
Etsy – Shares of the e-commerce retailer rose 4% before the bell after Wolfe Research upgraded the stock from a Peer Perform to an Outperform rating. Wolfe cited three reasons for the upgrade: a surge in consumer spending, the potential for margin improvement and a better emphasis on Etsy’s primary franchises.
Semtech – Semiconductor stocks rose 1% in early trading despite offering a fiscal third-quarter forecast late Wednesday that called for a loss of 9 cents to 22 cents a share on revenue of $190 million to $210 million. Analysts had expected it to earn 12 cents on revenue of $247.7 million during the period. The company earned 11 cents per share after adjustments in the second quarter, beating analysts’ expectations of 2 cents per share, according to FactSet.
Penn Entertainment – Sports betting stocks rose 3% in premarket trading after Deutsche Bank issued a short-term buy call. The bank said there is reason to believe the stock should rise further.
first solar – The stock climbed nearly 2% higher after BMO Capital Markets upgraded shares to outperform from market perform, citing the recent selloff that has created an attractive entry point for investors.
exxon mobil, beam – Exxon Mobil and Chevron gained about 1% each before the market open as oil prices reached their highest level this year, with Brent crude above $93 a barrel. Occidental Petroleum And devon An increase was also seen in the morning.
Himachal Pradesh – Shares of the printer and PC maker fell more than 3% in premarket trading after Warren Buffett showed up in a regulatory filing. Berkshire Hathaway Sold a part of his stake. The group sold about 5.5 million shares of HP, worth about $158 million. The Omaha-based giant first bought Tech Hardware stock in April 2022, becoming its largest shareholder. Berkshire still owns more than $3 billion in HP shares.
General Motors, ford – United Auto Workers President Shawn Fenn said Wednesday night that a strike against the companies was “likely” if a contract agreement is not reached before the Thursday 11:59 p.m. ET deadline, sending automakers’ shares soaring. There was a partial increase in premarket trading in. Ford CEO Jim Farley hit back, saying the company had received “no real counterproposals” to its proposals.
— CNBC’s Michelle Fox, Alex Haring, Yun Lee, Tanaya Machel, Jesse Pound and Piya Singh contributed reporting.
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