An exterior view of the Advance Auto Parts store at the Sunbury Plaza, Sunbury, Pennsylvania.
Paul Weaver | SOPA Images | Light rockets | Getty Images
Check out the companies making headlines in premarket trading.
SoFi — The financial services platform added nearly 7%. A deal to raise the US debt ceiling on track for a vote Wednesday would resume student loan payments.
Carvana — Shares fell nearly 4% in premarket trading. Carvana stock has been on fire so far this year with a 189% gain from the start of 2023.
Anheuser-Busch — The beer giant declined 1.7%. Lower sales volume across the company’s portfolio of products underpinned the decline, with Bud Light leading the charge with a 25.7% fall for the week ending May 20, according to Evercore.
Hewlett Packard Enterprise — Hewlett Packard Enterprise fell nearly 8% on the back of mixed quarterly numbers. The company earned an adjusted 52 cents per share, beating a Refinitiv forecast of 48 cents per share. However, revenue of $6.97 billion was below a consensus estimate of $7.31 billion.
Twilio — Shares gained 3.6% after a report that Legion Partners was looking to make changes to the automated communications company’s board, as well as divestitures.
Ambarella — The chip stock shed 18% after Ambarella shared disappointing guidance for the second quarter. Ambarella expects second-quarter revenue to be between $60 million and $64 million. Analysts expected guidance around $66.9 million, according to StreetAccount.
Advanced Auto Parts — The car parts retailer plummeted more than 25% after a wide earnings miss. The company reported an adjusted 72 cents per share against a Refinitiv consensus forecast of $2.57 per share. Advance Auto Parts also slashed its quarterly dividend.
C3.ai — The artificial intelligence stock declined 5.8% ahead of Wednesday’s quarterly results. Analysts polled by FactSet forecast an adjusted quarterly profit of 3 cents per share.
American Airlines — Shares of the air carrier rose about 2% premarket after the company raised expectations for the second quarter. American Airlines increased its earnings per share expectation from between $1.20 and $1.40 to between $1.45 and $1.65. It also increased its margin expectation to between 12.5% and 14.5% from between 11% and 13%.
— CNBC’s Samantha Subin, Fred Imbert and Tanaya Macheel contributed reporting.