🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

Nike, First Republic and Luminar fall premarket; GameStop, Virgin Orbit soar

Published 22-03-2023, 05:34 pm
© Reuters.
BA
-
CSGN
-
GOOGL
-
UBS
-
NKE
-
GME
-
FRCB
-
WGO
-
GOOG
-
STLA
-
LAZR
-
VORBQ
-

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Wednesday, March 22nd. Please refresh for updates.

  • First Republic Bank (NYSE:FRC) stock fell 5.3% ahead of the Fed rate decision even as negotiators in Washington and on Wall Street discuss potential government support to stabilize the beleaguered regional lender.

  • Nike (NYSE:NKE) stock fell 1.3% after the athletic footwear manufacturer warned of margin pressures as it continues to get rid of excess inventory through heavy discounts, even as it raised its full-year revenue outlook.

  • GameStop (NYSE:GME) stock soared close to 50% after the video game retailer posted a surprise profit for the fourth quarter, its first since early 2021, helped by lower costs and job cuts.

  • UBS (NYSE:UBS) stock fell 2.3% after the Financial Times reported that the Swiss lender is attempting to unwind a deal that would have seen Wall Street dealmaker Michael Klein take control over much of the investment banking division of the newly acquired Credit Suisse (SIX:CSGN).

  • Luminar Technologies (NASDAQ:LAZR) stock fell 10% after Goldman Sachs downgraded its stance on the lidar developer to ‘sell’ from ‘neutral’, seeing downside to the company’s margin outlook.

  • Alphabet (NASDAQ:GOOGL) stock fell 1.5% after its Google unit started to roll out Bard, the AI function that is its response to Microsoft-backed ChatGPT.

  • Virgin Orbit (NASDAQ:VORB) stock soared over 70% after the cash-strapped company confirmed plans to restart operations this week to work on rocket upgrades.

  • Winnebago (NYSE:WGO) stock rose 5.9% after the recreational vehicle manufacturer cruised past expectations for its fiscal second quarter.

  • Boeing (NYSE:BA) stock fell 1.4% after the plane maker's finance chief said the company will take additional charges to the KC-46 tanker program due to a supplier quality issue with the center fuel tank.
  • Stellantis (NYSE:STLA) stock rose 0.9% after the carmaker said it would invest around $140 million in its German assembly plant to produce a new battery electric vehicle there from the second half of next year.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.