By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Wednesday, August 5th. Please refresh for updates.
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Walt Disney (NYSE:DIS) stock rose 6.6% after the entertainment giant surprised with a quarterly adjusted profit despite the Covid-19 pandemic shutting its parks and movie theaters. The company took a nearly $5 billion charge, but reported 54.5 million subscribers as of May 4 for its Disney+ streaming service.
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Square (NYSE:SQ) stock rose 10% after the payments processor reported on Tuesday a 64% jump in second-quarter revenue as consumers increased online buying and used its peer-to-peer Cash App platform during the Covid-19 pandemic.
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Exxon Mobil (NYSE:XOM) stock rose 2% with the oil giant set to announce plans to cut costs by suspending the employer match to retirement savings plans beginning in early October, Reuters reported.
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Apple (NASDAQ:AAPL) stock fell 0.3% after Bank of America downgraded its investment stance on the iPhone maker to “neutral”, citing a slowdown in sales growth of these phones.
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Nikola (NASDAQ:NKLA) stock fell over 14% after the electric-vehicle maker reported wider than expected second-quarter loss after hours Tuesday, saying the pandemic had disrupted its supply chain.
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Novavax (NASDAQ:NVAX) stock rose 22% after the biotech said its potential vaccine to prevent Covid-19 generated a promising immune response in an early stage clinical trial.
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Beyond Meat (NASDAQ:BYND) stock fell 7.2% as additional costs incurred because of the pandemic widened the plant-based burger maker’s quarterly net loss to $10.2 million from $9.4 million, even as sales surged 69%.
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WW International (NASDAQ:WW) stock fell 8% after the company, formerly known as Weight Watchers, reported a 10% drop in revenues in the second quarter despite subscribers climbing to an all-time high in the quarter.
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CVS (NYSE:CVS) stock rose 2.5% as the drugstore chain lifted its guidance for the full-year after reporting strong second quarter earnings.
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Twilio (NYSE:TWLO) stock dropped 4.1% after the software company reported slowing sales growth, stoking concerns that corporate demand for communications tools may ease in the future
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Walmart (NYSE:WMT) stock fell 0.9% after the retail giant delayed the launch of its paid membership service, Walmart Plus, once more, according to a report from Recode. Walmart is aiming for this service to be a competitor to Amazon (NASDAQ:AMZN) Prime.
- Regeneron (NASDAQ:REGN) stock rose 3.3% after beating second-quarter profit estimates, helped by higher sales of its blockbuster eczema treatment Dupixent.