Stocks making the biggest moves premarket: American Airlines, GE Aerospace, Electronic Arts, Alaska Air and more
Check out the companies making headlines in premarket trading: American Airlines — Shares sank 8% after the airline forecast an adjusted loss of 20 cents to 40 cents per share for the first quarter. That is wider than the loss of 2 cents expected by analysts LSEG polled. However, American reported an earnings and revenue beat for the fourth quarter. GE Aerospace — Shares gained more than 9% after fourth-quarter results surpassed analysts’ estimates on the top and bottom lines. GE Aerospace reported adjusted earnings per share of $1.32 on revenue of $9.88 billion. Analysts polled by LSEG forecast earnings of $1.04 per share and $9.51 billion in revenue. Alaska Air Group — The airline stock advanced about 2% on the heels of better-than-expected quarterly results. Alaska Air also expects a smaller-than-expected loss per share of 70 cents to 50 cents in the current quarter, while analysts polled by FactSet were expecting a loss of 75 cents. Electronic Arts — Stock in the video game publisher pulled back 17% after the firm trimmed its third-quarter and full-year guidance for net bookings, citing a slowdown in its soccer gaming franchise as a key catalyst. AST SpaceMobile — Shares declined 17% after the satellite company announced a $400 million convertible note offering . Guidewire Software — The software stock rose nearly 5% before the opening bell after Goldman Sachs initiated coverage with a buy rating. Analyst Adam Hotchkiss labeled the company a leader in the cloud modernization for the property and causality insurance sector. Plexus — The aftermarket electronics product stock fell 9% after issuing a disappointing revenue outlook for the second quarter. Plexus expects revenue in a range between $960 million and $1 billion, while analysts polled by FactSet were looking for $1.60 billion. — CNBC’s Michelle Fox contributed reporting.
