US Premarket: Under Armour, Draftkings and other stocks making biggest moves

Under Armour (UAA)

Shares of the athletic apparel maker plunged 12.5% in
premarket and reported an adjusted first-quarter loss of 1 cent per share as
against a profit estimate of 6 cents per share. Under Armour also released a
weaker-than-expected forecast for its full-year profit as it absorbs the impact
of higher costs and supply chain disruptions.

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DraftKings (DKNG)

Shares of DraftKings surged 9.8% in premarket trading
after its quarterly results. The sports betting company reported a loss for the
quarter but revenue was higher than expected with the rise in monthly unique
paying customers and average revenue per customer. DraftKings also increased
its full-year revenue outlook.

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DoorDash (DASH)

DoorDash stock surged 6% in premarket action after it
reported a wider-than-expected quarterly loss, but the food delivery firm’s
revenue beat analyst estimates with total orders exceeding the 400 million mark
for the first time.

Block (SQ)

Shares of Block jumped 5% in premarket action, despite
both profit and revenue missing analyst estimates. The fintech company’s
operating earnings raised forecasts and said it had not seen any decline in
consumer spending.

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Virgin Galactic (SPCE)

Virgin Galactic shares fell 4.9% in the premarket after
the company announced to postpone the launch of its commercial space flight
service until the first quarter of 2023, citing labour and supply chain issues.
Analysts are also worried about Virgin Galactic’s cash burn levels.

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Shake Shack (SHAK)

Shake Shack stock fell 2.8% in premarket trading despite
reporting a lower-than-expected quarterly loss and revenue that beat Wall
Street estimates. The restaurant chain released a lighter-than-expected outlook
as it struggles with rising costs for beef, chicken and other commodities.

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Johnson & Johnson (JNJ)

Johnson & Johnson shares slid 1% in premarket trading
after the FDA limited the use of the company’s Covid-19 vaccine, following a
study of blood clots in some recipients. The shot will now only be allowed for
patients who are not medically eligible for other vaccines or where there are
no substitutes available.