Lululemon, MultiMetaVerse, U Power stocks jump but SentinelOne plummets, and other big movers
By MarketWatch
Here are some of the biggest movers in premarket trading Friday:
Stock gainers:
MultiMetaVerse Holdings Ltd. (MMV) was up by 280% after the Shanghai-based animation company said a term sheet was signed for its pending acquisition of an equity stake in Taomee, one of China's leading entertainment and medical companies for people under 30. The deal was initially announced on Jan. 12 and its expected to close in the second half of the year.
U Power Ltd. stock (UCAR) rocketed by 56% after the battery company announced a cooperation agreement with Japanese electric-vehicle maker Quantum Solutions Co. Ltd .
MongoDB Inc. stock (MDB) roared 30% higher Friday after the database-software company blew away expectations with its earnings and forecast delivered after Thursday's closing bell. Oppenheimer raised its price target for the stock to $430 from $270.
Lululemon Athletica Inc. (LULU) stock rallied 13% after the retailer forecast full-year sales and profit above expectations and as strong gains in China's reopened economy helped boost first-quarter results
Five Below Inc. (FIVE) rose 5.4% after the teen-and-tween-focused discount retailer raised the low end of its full-year revenue and profit forecasts
DuPont de Nemours Inc. stock (DD) jumped 6.4% and Chemours Co. (CC) rallied by 18.8% after the two companies and Corteva Inc. (CTVA) said they reached a settlement over drinking-water claims related to perfluoroalkyl and polyfluoroalkyl substances, known as PFAS. A $1.185 billion settlement fund will be established, with Chemours contributing about $592 million, DuPont adding about $400 million and Corteva contributing about $193 million. Corteva stock is up 2.2%.
Dish Network Corp.(DISH) was up 16.8% after Bloomberg reported that Amazon.com (AMZN) is in talks with the company about plans to offer low-cost or possibly free nationwide mobile phone service to Amazon Prime customers. T-Mobile U.S. Inc. (TMUS) was down 8.6% and Verizon Communications Inc. (VZ) was off by 3%. The WSJ reported May 25 that Dish Network was in talks to sell wireless plans through Amazon.
Stock decliners:
SentinelOne Inc.(S) shares plummeted 35% after executives cut their annual forecast and announced layoffs as corporate customers used the security company's software less and took longer to sign new deals.
PagerDuty Inc.'s stock (PD) tanked 15.7% after the cloud-computing company reduced its annual revenue guidance.
ChargePoint Holdings Inc.(CHPT) dropped 0.7% after the EV-charging network guided for a lower-than-expected fiscal second-quarter revenue.
Tilly's Inc. (TLYS) stock sank 15.5% after the West-Coast-themed clothing and accessories retailer forecast a steeper second-quarter loss than expected, saying that rising prices continued "to have a detrimental impact on our pre-teen, teen, and young adult customer demographic."
Shares of Guidewire Software Inc.(GWRE) fell 8.5% after the insurance-software company missed on revenue, and offered a weak outlook.
-MarketWatch
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June 02, 2023 10:17 ET (14:17 GMT)
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