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