Coinbase, Unity Software, Wendy's Fall Premarket; Krispy Kreme, Peloton Rise

  • Stock Market News
Coinbase, Unity Software, Wendy's Fall Premarket; Krispy Kreme, Peloton Rise
Credit: © Reuters.

By Peter Nurse -- Stocks in focus in premarket trade on Wednesday, May 11th. Please refresh for updates.

  • Coinbase (NASDAQ: COIN ) stock slumped 15% after the cryptocurrency exchange reported a surprise loss in the first quarter, pressured by weaker volatility and a rout in crypto prices including bitcoin.

  • Unity Software (NYSE: U ) stock fell 23% after the video game software development company reported a net loss in the first quarter and lowered its full-year revenue guidance.

  • Wynn Resorts (NASDAQ: WYNN ) stock gained 2.4% as the casino operator reported a 29% revenue increase in the first quarter even with the COVID restrictions in Macao.

  • Krispy Kreme (NASDAQ: DNUT ) stock rose 4.8% after the donut chain beat expectations at both the top and bottom lines, helped by a large jump in its overseas operations.

  • Wendy’s (NASDAQ: WEN ) stock fell 5.8% after the fast-food restaurant chain missed estimates for quarterly U.S. same-store sales growth on increased competition amid supply and labor constraints.

  • Electronic Arts (NASDAQ: EA ) stock rose 3.4%, helped by a jump in the video game company’s live services revenue , which makes up most of its sales, but it warned of weaker sales of its video gaming titles in a post-lockdown world. It also announced it was ending a decades-old partnership with FIFA, the world's soccer governing body.

  • Peloton (NASDAQ: PTON ) stock rose 5.3% after JMP Securities upgraded its stance on the exercise equipment manufacturer to ‘outperform’ from ‘market perform’, saying the company is the “best in class” fitness stock and can virtually double.

  • Johnson & Johnson (NYSE: JNJ ) stock rose 0.4% after saying that Thibaut Mongon, the current leader of the pharma giant’s consumer health business, will become the CEO of the standalone business when it is spun off.

  • Carvana (NYSE: CVNA ) stock fell 0.6% after Stifel downgraded its stance on the auto retailer to ‘hold’ from ‘buy’, citing slowing demand in the used car market.

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