Stocks making the biggest moves premarket: Citigroup, Under Armour, MicroStrategy and more
Here are the top companies making waves in the pre-market.
Under Armour’s shares have sunk 5.3% following news that founder Kevin Plank will be returning as CEO, a move interpreted by Evercore ISI as a sign that the company’s existing strategy is failing. Consequently, they’ve downgraded UAA shares from in line to underperform.
Robinhood made a splash with reported equity trading volumes in February that were 41% higher than last year, pushing shares up by almost 12%.
Dollar General stocks jumped 5.8% in light of an earnings report that surpassed expectations. The company declared earnings of $1.83 per share on $9.86 billion in revenue, beating predictions of $1.75 per share and $9.78 billion in revenue.
U.S. Steel’s shares fell 5.8% amid news that President Joe Biden is expected to express “significant concern” about the company’s proposed takeover by Japan’s Nippon Steel Corp.
Fisker stocks slid to just 19 cents per share after the Wall Street Journal revealed that the electric vehicle company has enlisted restructuring advisers to help with a probable bankruptcy filing.
Shares of SentinelOne, the AI-driven cybersecurity company, dropped 8% when investors perceived its revenue forecast of $812 million to $818 million as disappointing. Despite releasing stronger-than-expected quarterly results, analysts were expecting revenue of $815.8 million for fiscal 2025.
Dick’s Sporting Goods shares rose 3.6% after the retailer reported higher fourth-quarter earnings and revenue than predicted. The company has increased its dividend by 10% and estimates earnings per share for fiscal 2024 to be between $12.85 and $13.25.
Citigroup’s share price grew 1% after Goldman Sachs upgraded the bank’s stock from neutral to buy and raised its price target, suggesting that Citigroup can both increase its revenue and achieve expense cuts.
Shares of software development company MicroStrategy, which primarily acts as a bitcoin proxy, rose 1.6% after announcing it would raise $500 million to buy more bitcoin and use for other general business expenses. This news comes after the company’s shares rose 11% on Wednesday.
