Stocks making the biggest moves premarket: Walmart, Coinbase, Moderna, Alibaba & more
Check out the companies making the biggest moves in premarket trading: Walmart — The retail giant dropped 6%. Walmart posted a revenue beat for its second quarter . However, the company’s U.S. comparable sales grew by 2.6%, short of the 3.5% increase expected from analysts polled by FactSet. Earnings per share guidance for the fiscal third quarter and full year also fell short of expectations. Crypto stocks — Crypto-related stocks moved higher, following the surge in Bitcoin and ether on President Donald Trump’s push for Congress to pass crypto-friendly legislation. Coinbase rose nearly 7% and Strategy jumped 10%. Circle Internet gained 7.5%, while Mara Holding and American Bitcoin each added roughly 5%. Alibaba — The Chinese tech giant reported a 75% drop in profits for the June quarter due to its jump in spending on artificial intelligence. Its capital expenditures grew by 75% in the quarter. U.S.-listed shares fell 3.4%. Moderna — The pharma giant shed 7%, a day after it gained 177% on the back of promising late-stage trial results for its cancer vaccine. The trial showed the experimental vaccine, from Moderna and Merck, in combination with Keytruda met key goals in patients with higher-risk or advanced melanoma whose detectable cancer had been completely removed through surgery. Nordson — Shares rose 5.4% after lifting the company, which manufactures equipment used to apply coatings and adhesives, raised its full-year guidance. Nordson sees adjusted earnings for the full year in a range of $11.80 to $12 a share, up from its earlier call for $11.30 to $11.80 per share. The outlook also surpassed the FactSet consensus call for $11.60 a share. — CNBC’s Darla Mercado contributed reporting.
