Inverse Zone

Gaming and Tech news

GameStop, Box, WW International and more

Take a look at some of the biggest players in the pre-market:

GameStop (GME) – The video game retailer said Board Member and Co-Founder of Chewy Ryan Cohen would become chairman of the board of directors at the end of its annual meeting. GameStop gained 2.2% in pre-market trading.

Box (BOX) – Cloud Computing Firm Announced $ 500 Million Investment From Funds Managed By Private Equity Firm KKR (KKR), which will receive convertible preferred shares. Box will use the proceeds to repurchase up to $ 500 million of its common stock. Box shares fell 5.6% before market.

WW International (WW) – Morgan Stanley downgraded the stock to ‘equal weight’ after ‘overweight’, noting its significant outperformance over the past 12 months and that shares of the company formerly known as Weight Watchers now sit at about 5% of its target price. The share fell 3.1% in pre-market trading.

Conagra brands (CAG) – The company behind food brands such as Duncan Hines, Birds Eye and Healthy Choice reported quarterly profit of 59 cents per share, a penny per share above estimates. Revenue also exceeded expectations. Conagra continues to see high demand stemming from more people staying at home during the pandemic. Conagra grew 1.1% in pre-market trade.

Constellation marks (STZ) – Beer maker Corona and various brands of spirits beat Wall Street estimates for revenue and earnings for its last quarter, saying it performed well despite challenges related to the pandemic.

Costco (COST) – Costco reported a 16% increase in same-store sales in March, including a 13.9% increase in the United States. The warehouse retailer also saw its online sales increase 57.7% from a year earlier.

Apple (AAPL) – Apple is delaying production of MacBooks and iPads due to shortages of computer chips and other components, according to Japanese press service Nikkei. The shortage has not yet affected the availability of products to consumers. Apple gained 1% on pre-market. (AMZN) – A union vote at an Amazon warehouse in Alabama saw a 55% turnout among the approximately 5,800 workers, with the first results due to be announced in days.

Bilibili (BILI) – Bilibili denies a Reuters report that the operator of the online video site is in talks to buy a 24% stake in Yoozoo Games. The report said the potential deal would see Bilibili buy both the stake as well as the seat of Yoozoo for around $ 765 million. Bilbili shares increased by 2.1% in pre-marketing action.

Twitter (TWTR) – Twitter has spoken in recent months to buy the Clubhouse audio social network for around $ 4 billion, according to a Bloomberg report. The talks are stalled for an unknown reason, however, and are no longer ongoing. Twitter stocks gained 1% in the pre-market.

You’re here (TSLA) – Tesla issued refunds to customers it had billed twice for new car purchases, according to customers who spoke to CNBC. The company also sent out apology emails offering $ 200 credit to Tesla’s online store.

Emerging BioSolutions (EBS) – Emergent was the subject of a warning from a senior federal health official last June, according to a New York Times report. The manager warned of quality control and other issues at the contract manufacturer, which recently had to dump millions of doses of Johnson & Johnson’s (JNJ) Covid-19 vaccine due to contamination.

Progression software (PRGS) – The enterprise software company has announced a $ 300 million convertible debt offer. Progress shares fell 1.8% in pre-market trading.

Academy sports and outdoors (ASO) – A nine million-share block of sporting and outdoor recreation stock is being offered by JPMorgan Chase, according to sources who spoke to StreetAccount. Shares fell 5% in pre-market action.

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