Check out some of the biggest pre-order movers:
Hibbett (HIBB) – Shares of the sporting goods retailer fell 5.7% in premarket trading after missing top-line and bottom-line estimates for the latest quarter. Hibbett was hit by higher costs that squeezed its profit margins, although the company reaffirmed its full-year guidance.
Silvergate Capital (SI) – Shares of the digital asset bank fell another 2.4% in premarket trading, extending yesterday’s 11.1% loss. The drop comes after cryptocurrency lender BlockFi filed for bankruptcy. Silvergate’s extended losses come despite saying it has minimal exposure to BlockFi.
Chemours (CC) – Chemours fell 6.1% in premarket trading after the chemicals maker said its full-year earnings tracked slightly below the lower end of its previous guidance range. Chemours pointed to a significant decline in demand for titanium dioxide, particularly in Europe and Asia.
General (GNRC) – Generac fell 2.6% in premarket trading after Jefferies downgraded the stock to “underperform” from “hold,” citing the potential impact of two-way electric vehicle charging on sales of Generac’s aftermarket power products.
United Parcel Service (UPS) – UPS gained 1.4% in the premarket after Deutsche Bank upgraded the delivery service’s stock to “buy” from “hold.” The move reverses a downgrade last year, with Deutsche Bank saying the concerns that led to the downgrade at the time — including the macroeconomic environment and upcoming labor talks — are now fully reflected in the share price.
Apple (AAPL) — Apple rallied in premarket trading after falling 2.6% yesterday, which came after reports from China that unrest at Foxconn’s iPhone factory could lead to a shortage of 6 million iPhone Pro units.
Bilibili (BILI) – Bilibili rose 10.3% in pre-sale after the Chinese Internet company reported better-than-expected profit and revenue in its latest quarter. Daily and monthly active users of the company increased by 25% compared to a year ago.
HSBC (HSBC) – HSBC has agreed to sell its Canadian unit to Royal Bank of Canada for $10.1 billion in cash. HSBC jumped 4.3% in premarket trading.
Roku (ROKU) — Shares of Roku fell 2.9% in premarket trading after KeyBanc downgraded the video streaming device company’s stock to “sector weight” from “overweight,” saying several aspects of its bullish thesis on Roku failed. .