Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Apple, Coinbase, Carvana and Expedia rise premarket; Lyft falls

Published 05/05/2023, 08:04 PM
Updated 05/05/2023, 08:04 PM
© Reuters.

© Reuters.

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

  • Apple (NASDAQ:AAPL) stock rose 2.6% after the tech giant reported a surprise rise in iPhone sales in the first quarter, helped by strong growth in India and other newer markets.

  • Warner Bros Discovery (NASDAQ:WBD) stock fell 5.9% after the entertainment giant posted a large overall loss even as its important streaming business turned a profit in the first quarter.

  • PacWest Bancorp (NASDAQ:PACW) stock rose 18.9% and Western Alliance (NYSE:WAL) climbed 16.5% as investors sought bargains from these battered banking stocks, helped by Western Alliance releasing data showing that its deposits have ticked up since the end of March.

  • Coinbase (NASDAQ:COIN) stock rose 8.2% after the cryptocurrency exchange posted a smaller-than-feared loss in the first quarter, benefiting from cost cuts and diversification of revenue sources.

  • Lyft (NASDAQ:LYFT) stock fell 15.6% after the ride-hailing company forecast a downbeat second quarter as price cuts in its attempt to add more riders take a toll on margins.

  • Carvana (NYSE:CVNA) stock soared 44% after the used-car retailer forecast a surprise core profit for the second quarter, offering some relief to investors amid solvency concerns.

  • HSBC (NYSE:HSBC) ADRs rose 1.4% with the U.K.-based bank expected to see off a proposal, backed by its biggest Asian shareholder Ping An (SS:601318), which calls for the lender to consider spinning off its Asia business.

  • Icahn Enterprises (NASDAQ:IEP) stock rise 8.3% after the investment firm announced plans to distribute $2 per depositary unit for the first quarter ended March 31, days after a critical report by short-seller Hindenburg.

  • Coty (NYSE:COTY) stock rose 0.4% after the beauty company announced it would explore a listing in Paris as it looks to strengthen its presence in Europe.

  • Expedia (NASDAQ:EXPE) stock rose 5.7% after the travel company beat first-quarter revenue expectations on record lodging bookings as demand returns.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.