Check out the companies making headlines before the stock market’s opening bell. GameStop — The meme stock declined 5% premarket, giving up a gain of nearly 30% earlier. GameStop posted a surprise earnings report , showing net sales of almost $882 million for the first quarter, down 29% from a year prior. GME also gave an update on its stock sales, saying it would sell additional stock on top of the 45-million share sale it announced in May that raised more than $900 million. The shares rallied 47% Thursday in anticipation of meme stock leader Roaring Kitty’s livestream, which is set to begin at noon ET. Lyft — Shares of the ride-sharing company added more than 3%. Multiple analysts upgraded the stock to buy following Lyft’s investor day Thursday. Lyft said it expects a gross bookings compound annual growth rate of approximately 15% between calendar 2024 and 2027. Vail Resorts — The ski resort owner sank 8% after posting disappointing quarterly results that fell short of Wall Street’s estimates for both sales and net income. Vail Resorts posted earnings of $9.54 per share on $1.28 billion in revenue. Skechers — Shares rose 2% after Bank of America upgraded the footwear maker to a buy , citing an improving wholesale environment and strong sales trends. DocuSign — DocuSign dropped more than 7% after releasing fiscal second-quarter and full-year forward guidance, and after first-quarter results topped Wall Street’s first-quarter estimates. The electronic signature company’s board also authorized a $1 billion stock buyback. Samsara — Shares of the software maker dropped more than 6% after issuing fiscal second-quarter and full-year financial forecasts, and posting better-than-expected first-quarter results. Samsara posted adjusted earnings of 3 cents per share on revenue of $281 million. That topped LSEG estimates calling for EPS of 1 cent per share and $272 million in revenue. Braze — Braze surged 15% after the customer engagement platform posted a smaller-than-expected loss of 5 cents per share and topped revenue estimates. The company also offered strong guidance for the current quarter and full year, expecting full-year revenue to range between $577 million and $581 million. — CNBC’s Yun Li and Michelle Fox contributed reporting
https://www.cnbc.com/2024/06/07/stocks-making-the-biggest-moves-premarket-gme-lyft-mtn-.html
