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Under Armour, Zillow, Lucid Fall Premarket; DraftKings, DoorDash Rise

Investing.com
·2-min read

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Friday, May 6th. Please refresh for updates.

Cigna (NYSE:CI) stock rose 0.6% after the health insurer reported better-than-expected first-quarter profit, helped by growth in its health services unit, and modestly raised its full-year profit forecast.

Under Armour (NYSE:UA) stock slumped 16% after the sportswear maker posted an unexpected loss and forecast full-year profit below expectations, as it grapples with higher costs related to supply chain disruptions and a hit to its business from renewed COVID-19 curbs in China.

DoorDash (NYSE:DASH) stock rose 6% after the food delivery company reported a better-than-expected 35% jump in quarterly revenue, and raised its full-year forecast for gross order value, a key industry metric.

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DraftKings (NASDAQ:DKNG) stock rose 3.9% after the sports betting company reported strong revenue growth in the quarter, resulting in it raising its full-year revenue guidance.

Lucid Group (NASDAQ:LCID) stock fell 0.6% after the electric vehicle maker posted a narrower loss than expected after the close on Thursday, but announced it will raise prices for most models from June as it deals with rising raw materials costs.

Block (NYSE:SQ) stock rose 5.4% after the financial services company beat first-quarter operating profit estimates, adding it had not seen a decline in overall consumer spending through April.

Live Nation Entertainment (NYSE:LYV) stock rose 2% after the concert promoter reported a narrow-than-expected loss per share as the concert and sports business rebounded.

Zillow Group (NASDAQ:ZG) stock slumped 15% after the online real-estate marketplace offered a disappointing outlook amid concerns that rising interest rates will hit the housing market.

Sweetgreen (NYSE:SG) stock rose 2.3% after the salad chain posted higher revenues than expected in the quarter, with customers returning.

Wayfair (NYSE:W) stock fell 2.3% after Piper Sandler downgraded its stance on the online furniture retailer to ‘neutral’ from ‘overweight’, saying the company continues to burn through cash.

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