US Premarket: Walt Disney, Sonos and other stocks making biggest moves
- Disney surged 8.9% after posting better-than-expected quarterly results
- Sonos tumbled 17.6% after its breakeven quarter surprised analysts
- Six Flags plunged 12.8% after reporting disappointing quarterly results
Walt Disney (DIS)
Disney surged 8.9% in premarket action after posting better-than-expected quarterly results. It also announced a December 8 launch date for an ad-supported version of its Disney+ streaming service. It would hike the price of its ad-free service by $10.99 per month from $7.99.
The stock tumbled 17.6% in the premarket after its breakeven quarter surprised analysts, who were expecting a profit. Revenue was also below the market expectations. The company slashed its full-year forecast at the pace of economic challenges. The high-end sneakers maker also announced the departure of CFO Brittany Bagley as of September 1.
Canada Goose (GOOS)
The outerwear marker’s stock gained 2.4% in the premarket after it reported a smaller-than-expected quarterly loss, with revenue beating analyst forecast. Canada Goose is the latest luxury retailer to see its high-end consumers maintain their spending levels.
Six Flags (SIX)
Shares of the theme park operator plunged 12.8% in premarket after reporting disappointing quarterly results. Six Flags’ results were significantly hit by a 22% drop in attendance, among other factors.
Shares of the dating service operator fell 8.9% in the premarket after it slashed its annual revenue outlook. Bumble is facing strong competition from rivals such as Tinder parent Match Group (MTCH). Its Badoo dating app, which is popular in Western Europe, has been hurt by the war in Ukraine.
Shares of the salty snacks maker jumped 8,2% in premarket action after reporting better-than-expected quarterly profit and revenue. The company also raised its full-year sales forecast.
Cardinal Health (CAH)
Cardinal Health slipped 1% in premarket trading after the pharmaceutical distributor reported a mixed quarter, along with earnings that exceeded Street forecasts while revenue came up short of estimates. Cardinal Health also announced that CEO Mike Kaufmann will leave on September 1. He will be succeeded by Chief Financial Officer Jason Hollar.