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Lyft, DraftKings, DoorDash Rise Premarket; Warner Bros Discovery Falls

Stock Markets Aug 05, 2022 07:54AM ET
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© Reuters.

By Peter Nurse

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

  • Warner Bros Discovery (NASDAQ:WBD) stock fell 13% after the entertainment giant’s chief executive David Zaslav said it’s looking at the introduction of a free, ad-supported version of its streaming service, which could have negative implications for revenue and profit at the new spin-off.

  • Lyft (NASDAQ:LYFT) stock rose 8.7% after the ride-hailing firm forecast an adjusted operating profit of $1 billion for 2024 after reporting record earnings for the second quarter.

  • DraftKings (NASDAQ:DKNG) stock rose 9.7% after the gaming stock reported a narrower-than-expected loss while revenues exceeded forecasts. Massachusetts lawmakers recently approved sports betting in that state, making it just the latest state to expand the business.

  • DoorDash (NYSE:DASH) stock rose 11% after the food delivery firm raised its annual target for gross order value, a key industry metric, saying it does not expect a slowdown in demand despite decades-high inflation.

  • Cloudflare (NYSE:NET) stock soared 20% after the cybersecurity company hiked its revenue forecast for the full year on the back of impressive quarterly results.

  • Block (NYSE:SQ) stock fell 6.4% after the digital payments firm reported a loss in quarterly results on waning interest in cryptocurrencies.

  • Canopy Growth (NASDAQ:CGC) fell 6.9% after the cannabis producer reported a quarterly loss as a result of incurring an impairment charge of C$1.72 billion ($1.33 billion) related to its operations.

  • Sunrun (NASDAQ:RUN) stock rose 6.9% after Barclays initiated coverage of the solar energy provider with an ‘overweight’ rating, saying it could surge 45% if lawmakers approve a climate spending boost.

  • Twilio (NYSE:TWLO) stock fell 8.2% after Stifel downgraded the communications platform to ‘hold’ from ‘buy’, citing the company’s weak guidance.

Lyft, DraftKings, DoorDash Rise Premarket; Warner Bros Discovery Falls
 

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Mitchel Pioneer
Mitchel Pioneer Aug 05, 2022 8:21AM ET
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The pre-market criminals are on scene, as the curtain prepares to rise on Friday FRAUD in the US Ponzi Scheme.  Wall Street breaks out the sharpener once again, as they prepare to plunge a financial knife in the back of the US working class heading into the weekend.  Biggest investment JOKE in the world.
 
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