Apple phones on display at an Apple Store in Miami, Florida on May 4, 2023.
Joe Raedle | Getty Images
Check out the companies that made headlines during Thursday’s premarket exchanges.
Apple — Apple shares fell more than 2.6% after Bloomberg News reported that China is considering extending a ban on iPhone use to public companies. A day earlier, the Wall Street Journal reported that China was considering banning the use of iPhones and other foreign-branded devices in government agencies.
dutch brothers — The drive-thru chain fell about 6% in premarket trading after announcing a public offering of $300 million of Class A common stock after the market closed on Wednesday.
Dave & Buster’s — Shares of the entertainment and dining company fell more than 3% after reporting weaker-than-expected second-quarter earnings. The company generated earnings of 60 cents per share on revenue of $542 million. Analysts polled by LSEG had expected 93 cents per share on revenue of $559 million. Comparable sales decreased year over year on a pro forma basis.
McDonald’s — The fast-food chain gained nearly 1% premarket after Wells Fargo upgraded the title from overweight to equal weight, saying the company is “running full steam ahead” on innovation and could see a rise in the second half of this period. year.
ChargePoint Funds — Shares of the electric vehicle charging infrastructure company fell 11.6% after ChargePoint missed estimates for the fiscal second quarter. ChargePoint noted revenue of $150 million while analysts polled by LSEG expected $153 million. The company also announced that it would reduce its global workforce by approximately 10%.
WestRock — Shares rose 6.7% after the Wall Street Journal reported the company was set to merge with European Smurfit Kappa in a deal that could create a global paper and paper giant packaging worth about $20 billion.
C3.ai — The artificial intelligence software company plunged 9.2% after C3.ai forecast a bigger-than-expected operating loss for the fiscal second quarter. The company expects an operating loss of between $27 million and $40 million, while analysts polled by StreetAccount expect a loss of $20.5 million. For the latest quarter, C3.ai reported a loss of 9 cents per share, excluding items, on revenue of $72.4 million, while analysts polled by LSEG expected a loss of 17 cents per share. on a turnover of 71.6 million dollars.
Roku — The streaming stock was down 1% early in the morning after Loop Capital downgraded the company’s rating to retain it. The move comes after Roku jumped more than 12% on Wednesday after announcing plans to lay off 10% of its staff, as well as consolidate office space and revise its content slate to cut expenses. Roku also raised its third-quarter revenue forecast, saying it now expects revenue of between $835 million and $875 million, up from a previous forecast of $815 million.
Verint Systems — The analytics firm fell 16.2% in pre-market after Verint’s second-quarter earnings and revenue fell short of expectations. Verint posted adjusted earnings of 48 cents per share, while analysts polled by FactSet had expected 57 cents per share. Revenue was $210.2 million, below the estimated $57.4 million.
— CNBC’s Tanaya Macheel and Jesse Pound contributed reporting.