GameStop, American Eagle Outfitters, Asana and more

News Update - Premarkets

GameStop: GameStop rose 9.2% before the bell despite sharing a widening quarterly loss and declining sales. The video game retailer also announced a partnership with crypto exchange FTX. GameStop’s results could not be compared since few analysts cover the company.

Asana: Shares of Asana rose 19% in premarket after a rise in the top and bottom lines in the previous quarter. The communications software company shared a smaller-than-expected loss of 34 cents per share on revenue of $134.9 million. Revenue guidance for the current quarter also beat Wall Street expectations.

American Eagle Outfitters: Shares of the retailer sank 14.5% in premarket trading after quarterly earnings per share fell 9 cents short of expectations, according to analysts polled by Refinitiv. American Eagle Outfitters also said it expects deeper sales and bigger promotions given the current retail environment.

Dave & Buster’s: Shares of Dave & Buster’s rose 3.5% after the company posted better-than-expected quarterly earnings. The company’s top line came in at $468.4 million, beating StreetAccount’s forecast of $432.9 million. Comparable store sales also beat expectations for Dave & Buster’s.

First Solar: Shares of First Solar rose 4.4% after Goldman Sachs twice upgraded the solar tech stock to buy and said the company is an immediate beneficiary of the Inflation Reduction Act.

Frontier Group: Shares of the discount airline fell 2.9% amid a market downgrade from Raymond James’ outperformance. Shares of Allegiant Travel rose after an update to outperform on the same note.

Moderna: Shares of Moderna gained 1.8% after Deutsche Bank upgraded the stock to a buy rating, citing revised estimates following strong quarterly results.

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