By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Wednesday, May 4th. Please refresh for updates.
Lyft (NASDAQ: LYFT ) stock slumped 23% after the ride-sharing company said it would have to spend more heavily to attract drivers, further pushing out the timeline for sustained cash generation.
Starbucks (NASDAQ: SBUX ) stock rose 6.6% after the coffee chain outlined “relentless” demand in its U.S. stores, even as it missed sales estimates and suspended its guidance for the rest of its fiscal year because of China's tough COVID-19 curbs.
CVS Health (NYSE: CVS ) stock rose 1.8% after the pharmacy chain raised its full-year profit forecast as it posted a better-than-expected first quarter , helped by strong performance in its insurance units and higher sales at its drug stores.
Uber (NYSE: UBER ) stock fell 0.3% after the ride-hailing company announced massive writedowns of its investments in Asia and self-driving, pushing it to a $5.9 billion net loss in the first quarter.
Match Group (NASDAQ: MTCH ) stock fell 6.4% after the group, which owns dating apps like Tinder and Hinge, announced that Shar Dubey will step down as chief executive officer, to be succeeded by Bernard Kim, president at mobile gaming maker Zynga (NASDAQ: ZNGA ).
Yum! Brands (NYSE: YUM ) stock fell 2.7% after the owner of fast-food chains Taco Bell, KFC, and Pizza Hut missed estimates for quarterly comparable sales , citing supply chain shortfalls and staffing pressures.
Moderna (NASDAQ: MRNA ) stock rose 7% after the drug maker maintained its full-year sales forecast for its COVID-19 vaccine, despite cases falling and demand slackening.
Marriott International (NASDAQ: MAR ) stock rose 3.1% after the hotel chain posted a quarterly profit, compared with a year-ago loss, as a rebound in travel demand boosted occupancy rates across its hotels.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.