US Premarket: Alibaba, Twitter, Nvidia and other stocks making biggest moves

Alibaba (BABA)

Shares of the China-based e-commerce giant added 4.5% in
premarket action after its latest quarterly earnings and revenue beat analyst
estimates, helped by increased online demand amid China’s COVID-19
restrictions.

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Twitter (TWTR)

Twitter shares jumped 5.6% in premarket trading after the
news that Elon Musk will commit more of his wealth to finance his $44 billion
acquisition deal for the company. According to an SEC filing, Musk committed
$33.5 billion in equity, up from the $27.25 billion earlier.

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Nvidia (NVDA)

Nvidia fell 4.2% in premarket trading after the graphics
chipmaker issued weaker-than-expected guidance for its current quarter, citing
supply chain issues and slower business in Russia. Nvidia reported
better-than-expected profit and revenue for its latest quarter.

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Macy’s (M)

Macy’s rallied 15% in premarket trading after reporting
higher-than-expected profit and revenue for the first quarter and raising its
full-year earnings forecast. Strong apparel demand boosted the results as
people returned to work and other out-of-home activities.

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Dollar General (DG)

Shares of Dollar General surged 10.1% in the premarket
after its quarterly results beat Wall Street forecast and comparable-store
sales fell less than expected. Dollar General also raised its same-store sales
forecast as more shoppers turn to discount stores amid soaring inflation.

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Dollar Tree (DLTR)

Dollar Tree rallied 12.3% in premarket action. Like its
rival Dollar General, Dollar Tree reported better-than-expected top and
bottom-line results for its latest quarter with its comparable-store sales
increase doubling market forecasts.

Medtronic (MDT)

Medtronic declined 3.3% in the premarket action after the
medical device maker reported quarterly results that fell short of analyst
estimates as it felt the impact of global supply chain issues.

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Baidu (BIDU)

Baidu surged 5.6% in the premarket after the search
engine giant beat estimates in its latest quarter despite a negative impact
from Covid lockdowns in China. Baidu witnessed strong growth during the quarter
for its cloud-based services.