By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Wednesday, November 3rd. Please refresh for updates.
Zillow Group (NASDAQ:ZG) stock slumped 16% after the real estate company said it was closing its struggling house-flipping business, facing writedowns of over $560 million on houses it bought for that purpose.
Activision Blizzard (NASDAQ:ATVI) stock fell over 13% after the video game company announced it was putting off the release of two of its most awaited video games, ‘Overwatch 2’ and ‘Diablo IV’.
Lyft (NASDAQ:LYFT) stock rose 14% after the ride-hailing company reported an adjusted third-quarter profit, as well as outlining a recovery plan on the back of drastic cost cuts and a return of riders and drivers. Rival Uber's (NYSE:UBER) stock rose 6.7% in sympathy.
T-Mobile US (NASDAQ:TMUS) stock rose 3.2% after the wireless carrier attracted more 5G service customers, boosting its third-quarter earnings. It also raised its estimate for synergies that it can squeeze out the merger with Sprint by another $300 million.
Mondelez (NASDAQ:MDLZ) stock rose 1.9% after the snack maker raised its annual sales forecast, helped by strong demand from emerging markets.
Bed Bath & Beyond (NASDAQ:BBBY) stock soared over 50%, helped by a likely short squeeze, after the troubled chain of domestic merchandise retail stores, and former meme favorite, announced several moves to redefine its business model.
Caesars (NASDAQ:CZR) stock fell 3.4% after the casino giant reported disappointing quarterly earnings, hurt by a loss in its digital business.
Norwegian Cruise Line (NYSE:NCLH) stock fell 2.8% after the cruise operator reported a wider-than-expected loss in the quarter. Still, it expects positive cash flow in the first quarter of 2022 and expects to be profitable in the second half of next year.
Camping World (NYSE:CWH) stock rose 7.4% after the recreational vehicle retailer reported strong quarterly earnings, boosted by the reluctance/inability of holidaymakers to fly away for vacation.
- Humana (NYSE:HUM) stock fell 7% after the health insurer cut its 2021 outlook, citing higher than expected Covid-19 costs, even after posting strong profit gains in the third quarter.
- Match Group (NASDAQ:MTCH) fell 3.7% after the online dating group offered up disappointing full-year guidance, citing the lingering effects of the pandemic, particularly in Asia.