In the premarket trade on Thursday, May 25th, several stocks have garnered attention. Here is a roundup of the latest market updates:
Nvidia (NASDAQ:NVDA) stock has experienced a remarkable surge of 28%. The world's most valuable listed chip company has forecasted strong revenues for the current quarter. Additionally, Nvidia is actively increasing its supply to meet the rising demand for its artificial intelligence chips.
Best Buy (NYSE:BBY) stock has risen by 4.4%. The consumer electronics company has surpassed profit estimates for the quarter. Its successful promotional programs have contributed to higher sales and boosted investor confidence.
Dollar Tree (NASDAQ:DLTR) stock has encountered a decline of 11.2%. The discount company has reduced its annual profit forecast due to high inflation, leading to decreased demand for higher-margin items.
Snowflake (NYSE:SNOW) stock has fallen by 13.6%. The software company has provided a disappointing sales outlook for the current quarter. This suggests that businesses are cutting back on spending on cloud software amidst the uncertain macro environment.
American Eagle Outfitters (NYSE:AEO) stock has slumped by 19.7%. The retailer has revised its full-year revenue forecast downward as demand for its apparel has slowed down, largely due to persistent high inflation.
MetLife (NYSE:MET) stock has risen by 2.2% after signing a substantial $19.20 billion reinsurance deal with retirement and life insurance firm Global Atlantic. The company has also announced a boost in its stock buyback program to $4 billion, reflecting a positive outlook.
Virgin Galactic (NYSE:SPCE) stock has seen a rise of 6.1%. The space tourism firm is set to launch its first spaceflight mission nearly two years later on Thursday, which serves as a final planned test flight before commencing its long-awaited commercial service.
Vipshop (NYSE:VIPS) stock has risen by 3.9% after receiving an upgrade from JPMorgan. The Chinese e-commerce company has been upgraded to 'overweight' from 'neutral' by the investment bank, which views it as the best defensive play in the e-commerce world.
Please note that these market updates are subject to change. Stay updated for the latest developments.
