Disney, PacWest and Beyond Meat fall premarket; Robinhood rises

  • Investing.com
  • Stock Market News
Disney, PacWest and Beyond Meat fall premarket; Robinhood rises

Investing.com -- Stocks in focus in premarket trade on Thursday, May 11th. Please refresh for updates.

  • Walt Disney (NYSE: DIS ) stock fell 5.5% after the entertainment giant reported its largest ever quarterly drop in subscribers to its flagship Disney+ streaming service, with four million customers leaving the service in the January to March period.

  • PacWest Bancorp (NASDAQ: PACW ) stock fell 20% on investors’ concern for its future even after the regional lender said it has $15 billion of immediately available liquidity and enough resources to fund its cash flow needs over the next 12 months.

  • Robinhood (NASDAQ: HOOD ) stock rose 3.1% after the retail brokerage beat quarterly revenue forecasts and confirmed it would launch 24-hour trading services.

  • Beyond Meat (NASDAQ: BYND ) stock fell 2.8% after the faux meat manufacturer announced plans to raise as much as $200 million in an equity offering even after reporting a smaller-than-expected quarterly loss on easing supply chain pressures and cost controls.

  • Sonos (NASDAQ: SONO ) stock slumped 23% after the manufacturer of audio products lowered its outlook for the second half of the year despite reporting second quarter results that topped estimates.

  • JD.com (NASDAQ: JD ) ADRs rose 3.3% after the Chinese e-commerce firm posted a better-than-expected top-line result in the first quarter and announced that chief executive Lei Xu will step down.

  • Tapestry (NYSE: TPR ) stock rose 10% after the luxury company raised its annual profit forecast, betting on strong demand for its Coach handbags.

  • Li Auto (NASDAQ: LI ) stock rose 4% after the electric vehicle maker reported a strong first quarter profit , while Chairman Li Xiang said the electric vehicle maker has no plans to cut prices.

  • Polestar (NASDAQ: PSNY ) stock fell 4.3% after the Swedish electric vehicle maker announced plans to cut its headcount by 10%, and lowered its 2023 production guidance.

Add Chart to Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
Please try another search

Related Articles