Stock Market

Stocks making the biggest moves in the premarket: GameStop, Tesla, Nordstrom & more

Take a look at some of the biggest movers in the premarket:

GameStop (GME) – GameStop is jumping once again in premarket trading after surging the past three days in what some analysts are calling a short squeeze. The video game retailer’s stock was up more than 57% in Wednesday’s session alone. The stock is up 21% in premarket trading as of 7:36 a.m. ET.

BlackRock (BLK) – The asset management firm reported quarterly profit of $10.18 per share, beating the consensus estimate of $9.14 a share. Assets under management surged to a record high of $8.68 trillion. The shares added 1% in premarket trading as of 7:36 a.m. ET.

Delta Air Lines (DAL) – Delta reported a loss of $2.53 per share for the fourth quarter, slightly larger than the loss of $2.50 anticipated by Wall Street analysts. As Delta deals with the impact of the pandemic, it did cut its daily cash burn rate to $12 million per day – half of what it was in the prior quarter. The shares added 1.9% in premarket trading as of 7:36 a.m. ET.

Tesla (TSLA) – Tesla was asked by the National Highway Traffic Safety Administration to recall 158,000 vehicles due to potentially defective touchscreens which could pose safety risks. The stock shed 1% in premarket trading as of 7:36 a.m. ET.

PayPal (PYPL) – PayPal became the first foreign firm in China with total ownership of a payments platform, after buying the 30% it didn’t already own of China’s GoPay. Financial terms were not disclosed.

Amazon (AMZN) – Amazon’s digital books business is the subject of a probe by the state of Connecticut for possible anti-competitive behavior. Attorney General William Tong said the investigation centers on Amazon’s e-book distribution agreements with publishers.

Snap (SNAP) – Snap is permanently banning President Donald Trump’s Snapchat account, after suspending it following last week’s attack on the Capitol by rioters. It said it took the action in the interest of public safety.

Nordstrom (JWN) – Nordstrom said holiday season sales were down about 22% from a year earlier, with digital sales representing 54% of its total. The department store operator also said sales at its Nordstrom and Nordstrom Rack stores improved sequentially in December from November. Shares fell 4% in premarket trading as of 7:36 a.m. ET.

Ethan Allen (ETH) – The furniture retailer said it expected to report fiscal second-quarter earnings of 67 to 69 cents per share, compared to a consensus estimate of 46 cents a share. Ethan Allen said its e-commerce business jumped 44.9% during the quarter, helping lead to a record high order backlog.

Signet Jewelers (SIG) – The jewelry retailer’s shares are higher in premarket trading after said it expects fourth-quarter sales to fall slightly for the fourth quarter compared to a year earlier, coming in between $2.1 billion and $2.12 billion. That would still be above Wall Street forecasts.

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