Sonos, Vroom rise premarket
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Prudential (LON:PRU) shares fell 4.3% after the UK-based life insurance company said the spin-off of its US business would not take place until the second half of the year.
Alibaba (NYSE:BABA) shares fell 3.1% as China's leading e-commerce platform posted a net loss after the company was fined $2.8 billion by the government for breaking antitrust laws. Meanwhile, quarterly revenue rose 64%.
Sonos (NASDAQ:SONO) shares soared 13% after the premium speaker maker raised its fiscal 2021 forecast and reported stronger-than-expected revenue in the second quarter thanks to increased demand for speakers from home consumers.
Shares in Vroom (NASDAQ:VRM) were also up 13% after the used-car retailer reported strong first-quarter sales and a smaller-than-expected loss as its online sales nearly doubled on the back of many avoiding public transport.
Shares of Bumble (NASDAQ:BMBL) fell 1.5% after the online dating app started to turn a profit in the first quarter; while its sales more than doubled due to an increase in paying users.
Shares of Jack In The Box Inc (NASDAQ:JACK) lost 5% after the burger chain predicted higher price pressures, with raw material prices rising about 3% and labour costs rising 5 to 6%. The company also said it expects single-digit growth in shop sales this financial year.
Shares of Casper Sleep (NYSE:CSPR) rose 6.2% as the mattress maker raised its full-year guidance after reporting a lower-than-expected quarterly loss and higher-than-expected revenue.
Canada Goose (NYSE:GOOS) shares jumped 5.4% after the winterwear retailer projected annual revenue in excess of C$1 billion for the first time, thanks to a surge in online sales and strong demand for its products in China that helped the company post a surprise profit.
Lowe's (NYSE:LOW) shares gained 1% after Oppenheimer raised its investment rating on the home goods retailer's shares to 'above-market', saying they could rise another 20% given the current rotation into cyclical shares.
Shares in BJs Wholesale Club (NYSE:BJ) rose 0.6% after JPMorgan (NYSE:JPM) upgraded the wholesale-retailer's investment rating to 'above market' from 'average', saying its membership programme was undervalued.
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