By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Thursday, June 3rd. Please refresh for updates.
AMC Entertainment (NYSE:AMC) stock fell 5.9%, overturning earlier premarket gains of over 20%, after the meme stock favorite announced plans to sell over 11 million shares. The movie theatre chain has recently seen its market value soar over $30 billion, making it bigger than at least half of the companies in the S&P 500 index.
Blackberry (TSX:BB) stock rose 13% and Workhorse (NASDAQ:WKHS) stock rose 16% as other stocks joined the retail frenzy over certain stocks prompted in online chat rooms.
Tesla (NASDAQ:TSLA) stock fell 2.2% after the electric car maker announced it was issuing two new recalls to address seat belt issues, One recall covers 5,530 vehicles, comprising 2018-2020 Model 3 and 2019-2021 Model Y cars, and the other covers 2,166 Model Y vehicles from 2019-2021.
FireEye (NASDAQ:FEYE) stock fell over 11% after the cybersecurity firm announced it’s selling its products business, including the FireEye name, to a consortium led by private-equity firm Symphony Technology Group for $1.2 billion in cash.
Splunk (NASDAQ:SPLK) stock fell 4.9% after the software firm reported a greater-than-expected loss for the first quarter. That said, Splunk has been transitioning customers to cloud-based versions of its software, and recurring cloud revenue did jump 83% during the quarter compared to a year ago.
PVH (NYSE:PVH) stock rose 0.1% after the owner of clothes brands like Tommy Hilfiger and Calvin Klein beat earnings and revenue expectations for the latest quarter, and also raised its full-year forecast.
Express (NYSE:EXPR) stock fell over 11% after the apparel retailer reported a quarterly loss even though revenue topped forecasts, saying it expects sequential comparable sales improvement throughout this year.
Take-Two (NASDAQ:TTWO) stock rose 0.9% after Jefferies upgraded its investment stance on the video game producer to ‘buy’ from ‘hold’, citing the company’s ramped up production pipeline.
Allstate (NYSE:ALL) stock fell 1.9% after Citigroup downgraded its stance on the insurer to ‘neutral’ from ‘buy’, saying higher claims costs could weigh.