By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Wednesday, November 3rd. Please refresh for updates.
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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.
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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’.
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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.
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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.
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Mondelez (NASDAQ:MDLZ) stock rose 1.9% after the snack maker raised its annual sales forecast, helped by strong demand from emerging markets.
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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.
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Caesars (NASDAQ:CZR) stock fell 3.4% after the casino giant reported disappointing quarterly earnings, hurt by a loss in its digital business.
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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.
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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.