Check out the companies making the biggest moves in premarket trading: Meme stocks — GameStop soared 120%, adding to the 74.4% it gained Monday , after the man who fueled the 2021 GameStop frenzy “Roaring Kitty” posted online for the first time in about three years. Shares of AMC popped 106%, while Reddit and Robinhood added 4% and nearly 6%, respectively. Alibaba — U.S.-listed shares shed nearly 5% after the Chinese e-commerce giant reported an 86% drop in profits for its fiscal fourth quarter . However, Alibaba beat revenue expectations, coming in at 221.9 billion Chinese yuan ($30.7 billion) versus the LSEG consensus estimate of 219.66 billion yuan. Home Depot — The home improvement retailer slipped less than 1% on the back of mixed quarterly results . Home Depot reported earnings per share of $3.63, topping the $3.60 expected from analysts polled by LSEG. Revenue was $36.42 billion, missing the $36.66 billion consensus estimate. Sony — U.S.-listed shares added 3% after the PlayStation maker reported quarterly revenue of 3.5 trillion yen, topping the 2.89 trillion yen, per LSEG. Operating profits, however, came in lighter than expected. Vodafone — The U.K.-based telecom company gained 3% after its full-year adjusted free cash flow and operating profit beat expectations. On Holding — The shoe maker jumped 9% on the back of first-quarter earnings that far exceeded analyst expectations. On reported an adjusted profit of 0.33 of Swiss currency per share, while analysts polled by FactSet expected CHF0.14. Net sales jumped nearly 20%. Walmart — Shares ticked incrementally higher after the Wall Street Journal reported the retail giant plans to cut hundreds of jobs and is asking most remote workers to move to offices. United Airlines — The travel stock fell less than 1% after releasing a summer travel update . United said it expects to have its busiest Memorial Day period on record, with the number of travelers up 10% year over year. Novo Nordisk — Shares moved less than 1% higher following new data from the Danish drugmaker that patients taking its Wegovy weight-loss treatment maintained an average 10% weight loss after four years. —CNBC’s Jesse Pound and Alex Harring contributed reporting.
Source: www.cnbc.com