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US Premarket: Delta Air, Taiwan Semi and other stocks making biggest moves
- Delta Air Lines rose 3.9% after an upbeat forecast for the ongoing quarter
- Victoria's Secret added 3.1% after it said current quarter profit would come in at the high end of earlier forecasts
- Taiwan Semi gained 2.3% after reporting an 80% increase in quarterly profit
Delta Air Lines (DAL)
The airline’s share price rose 3.9% in premarket trading
after an upbeat forecast for the ongoing quarter as travel demand continues to
recover. For its recent quarter, Delta reported an adjusted $1.51 earnings per
share, a number 2 cents below consensus but included a 3-cent impact from the
effects of Hurricane Ian.
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Digital World Acquisition (DWAC)
Digital World Acquisition surged 11.2% in premarket trading
after Google approved Truth Social, the social media platform backed by former
President Donald Trump, for inclusion in its app store. Digital World is a
special purpose acquisition company that plans to merge with Truth Social and
take it public, though the merger is subject to shareholder approval.
Also Read | US CPI Inflation eased to 8.2% in September, core index hits new four-decade high
Victoria’s Secret (VSCO)
Shares of the lingerie maker added 3.1% in the premarket
after it said current quarter sales and profit would come in at the high end of
earlier forecasts. The positive forecast comes ahead of a meeting with analysts
and investors scheduled for Thursday.
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Taiwan Semiconductor (TSM)
Taiwan Semi gained 2.3% in premarket trading after the chip
maker reported an 80% increase in quarterly profit and on reports that the US
granted Taiwan Semi a one-year license to continue ordering US equipment for
use in China.
Walgreens (WBA)
Shares of the drugstore operator surged 6.8% after
reporting better-than-expected quarterly profit and revenue. The company also
raised its long-term sales targets.
Also Read | Why US inflation is going up and when will it come down
Applied Materials (AMAT)
Applied Materials fell 2% in premarket action after the
chip manufacturing equipment maker slashed its current-quarter revenue outlook.
The company said it would be negatively impacted by new US regulations
restricting exports to China.
Dish Network (DISH)
Dish Network added 1% in premarket action after blank-check
company CONX Corporation said it was in discussions to buy Dish’s retail
wireless unit Boost Mobile. CONX is backed by Dish Network chairman Charles
Ergen.
Also Read | Current global crisis and hyperinflation in post-World War I Germany
Kohl’s (KSS)
Kohl’s jumped 2.2% in the premarket after a Wall Street
Journal report said that activist investor Macellum Advisors is warning the
retailer that another proxy battle could be ahead. Macellum is said to be
calling for the replacement of at least three directors after talks to sell the
retailer earlier this year collapsed.
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