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HomeUncategorizedPremarket Winners and Losers: Fisker, Nvidia, and Under Armour fall, while Robinhood...

Premarket Winners and Losers: Fisker, Nvidia, and Under Armour fall, while Robinhood and Dollar General increase.

Premarket Winners and Losers

U.S. futures moved up Thursday as investors anticipated the release of further inflation data, hoping to learn when the Federal Reserve will begin its rate-cutting cycle.

Top Gainers

Dollar General (NYSE:DG) stock surged 6.1% after forecasting strong 2024 sales from price-conscious buyers.

After reporting its best fourth quarter results, Dick’s Sporting Goods (NYSE:DKS) shares jumped 4.6%. The store said the holiday season was its best ever.

Citigroup (NYSE:C) stock jumped 1.6% after Goldman Sachs upgraded it to ‘buy’ from ‘neutral’, citing growth potential.

Restaurant Brands (NYSE:QSR) shares climbed 0.4% after Burger King parent nominated Sami Siddiqui chief financial officer and announced other leadership changes to address problems in overseas markets.

Top losers

Fisker (NYSE:FSR) stock fell 40% after the WSJ reported that the electric car company recruited restructuring experts to help file for bankruptcy.

SentinelOne (NYSE:S) shares slumped 9.5% after disappointing full-year expectations overshadowed good fourth-quarter performance, forcing it to fall behind CrowdStrike.

While struggling in a tough macro environment, Under Armour (NYSE:UA) stock plummeted 7.8% after the sportswear giant announced that founder Kevin Plank will return as CEO.
Tesla (NASDAQ:TSLA) shares declined 1.5% after UBS lowered its target price due to delivery projection uncertainties.

Nvidia (NASDAQ:NVDA) shares slumped 1.8%, extending the current selloff of the top artificial-intelligence chip provider. On Monday, the firm hosts its annual developer conference.

Stocks in focus

Dick’s Sporting Goods (DKS) shares rose more than 8% in pre-market trade after the company announced good holiday quarter results. Dick’s exceeded Q4 2023 top and bottom line forecasts with 2.8% comparable sales growth. “Even excluding the extra week, this was the largest sales quarter in the history of the Company, and during the fourth quarter, we drove significant gross margin and EBT margin expansion,” Lauren Hobart said. The corporation also raised its quarterly dividend by 10% and gave above-expected 2024 forecast.


Adobe stock will be watched following the closing bell for FQ1 2024 earnings. Wall Street forecasts $4.38 per share on $5.15B in ADBE sales. Adobe’s December quarterly report disappointed investors with weak outlook and news that the U.S. government was investigating subscription practices. Its performance and AI comments will be eagerly examined this quarter. Generative AI may be a double-edged sword for Adobe (ADBE), analysts say.


On Wednesday, cigarette giant Altria (MO) announced a global secondary share offering to sell part of its holding in Anheuser-Busch InBev (BUD). The Marlboro parent was trying to sell up to $2.2B in AB InBev (BUD) U.S.-listed shares for $60.75 to $62.75 apiece, Bloomberg News reported. AB InBev (BUD) plans to acquire Altria (MO) shares directly for up to $200M. U.S.-listed AB InBev (BUD) shares were down more than 4% before the opening bell, while Altria (MO) was up slightly.

Before market open, Under Armour Class A (UAA) and Class C (UA) shares plummeted over 7% and 6%, respectively. The shares rose in extended trading on Wednesday after the sportswear retailer reinstated founder Kevin Plank as CEO. Plank founded Under Armour (UAA) in 1996 and remained as CEO and board chair until 2019. Plank succeeds Stephanie Linnartz as CEO on April 1. Mohamed El-Erian, Allianz’s main economic advisor, will become Under Armour’s non-executive board chair after Plank’s appointment.

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3M (MMM) rose over 7% pre-market. The industrial conglomerate’s appointment of former L3Harris Technologies (LHX) CEO William Brown as its new CEO, starting May 1, appeared to please investors. Brown will succeed Michael Roman as 3M’s (MMM) executive chairman. Brown was Harris Corp’s CEO before its 2019 merger with L3 Technologies. After becoming CEO of the merged firm, he was executive chair from June 2019 until June 2022. Roman was 3M’s (MMM) CEO since July 2018.

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