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GM, T-Mobile, Lyft Rise Premarket; Hilton Falls

Stock MarketsMay 05, 2021 08:01AM ET
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© Reuters.

By Peter Nurse 

Investing.com -- Stocks in focus in premarket trade on Wednesday, May 5th. Please refresh for updates.

  • General Motors (NYSE:GM) stock rose 3.3% after the auto giant said its first-quarter profit jumped to $3 billion, despite a global semiconductor chip shortage that has shuttered some of its plants.

  • Hilton Worldwide (NYSE:HLT) stock fell 2.1% after the hotel chain posted a quarterly loss on Wednesday as bookings were hurt by travel restrictions and people continued to shelter in place due to the COVID-19 pandemic.

  • T-Mobile US (NASDAQ:TMUS) stock rose 2.8% after the wireless carrier raised its full-year postpaid subscriber net additions forecast after easily beating first-quarter estimates, boosted by robust demand for its 5G services from people working remotely.

  • Activision Blizzard (NASDAQ:ATVI) stock rose 5.4% after the video game maker easily surpassed expectations with its first-quarter earnings, thanks to its popular “Call of Duty” and “Candy Crush” franchises.

  • Lyft (NASDAQ:LYFT) stock rose 5.7% after the ride-hailing company reported a smaller than expected first-quarter loss, inching the business closer toward profitability as the economy reopens.

  • Zillow (NASDAQ:Z) stock gained 2.9% after the online residential real estate company beat first-quarter expectations thanks to continued strength in the housing market.

  • Caesars (NASDAQ:CZR) stock rose 5.9% after the casino operator reported a smaller-than-expected loss for the first quarter, while its revenue was above estimates as their sites gradually reopened.

  • BorgWarner (NYSE:BWA) stock rose 2% after the U.S. auto parts maker said its quarterly earnings per share almost doubled from a year ago, helped by higher demand for new automobiles during the coronavirus crisis.

  • Match Group (NASDAQ:MTCH) stock rose 5.7% after the online dating firm, which owns Tinder, among other sites, reported first-quarter earnings and revenue that topped estimates, swinging to a profit. 

  • New York Times (NYSE:NYT) stock rose 1.9% after the newspaper reported better-than-expected quarterly revenue on Wednesday, as more people bought digital subscriptions for its news and entertainment products.

  • ConocoPhillips (NYSE:COP) stock rose 2.4% after Bank of America (NYSE:BAC) upgraded its investment stance on the oil major to ‘buy’ from ‘neutral’, citing higher pol prices and the potential for larger returns to shareholders.

 

GM, T-Mobile, Lyft Rise Premarket; Hilton Falls
 

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Comments (1)
Mitchel Pioneer
Mitchel Pioneer May 05, 2021 9:07AM ET
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Another loss removed from the system the day after it occurs.  Only in the US Ponzi Scheme, greatest financial fraud in history, and biggest investment joke in the world.  Another routine day of defrauding the US working class.
Alan Goldblatt
Alan Goldblatt May 05, 2021 9:07AM ET
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Then why doesn't the working class wait to buy the day after substantial losses?
 
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