2023-05-11 08:58:18 ET
Wall Street exhibited caution in Thursday's premarket trading, a day after finishing with a mixed performance. Inflation remains in focus as investors game the Federal Reserve's next move on interest rates. Here are some stocks to watch on Thursday:
- Disney ( NYSE: DIS ) dropped almost 6% in premarket trading after the entertainment giant's Q2 earnings came in short of expectations. Meanwhile, the company's Disney+ subscriber numbers slipped for the second straight quarter. Revenues climbed 13% to $21.8B, largely matching what analysts had predicted.
- As part of its I/O developer conference , Alphabet ( GOOG ) ( GOOGL ) announced that it is expanding its use of artificial intelligence. Saying the company is taking a "bold and responsible approach" to AI, the company's CEO revealed that "we are reimagining all our core products, including search." GOOGL also confirmed a new Pixel tablet, a foldable Pixel smartphone and a budget-line smartphone.
- The release of quarterly results spurred premarket buying in Robinhood ( HOOD ). Shares of the online financial trading platform climbed almost 5% after the company surpassed expectations with its quarterly revenue, which rose 48% from last year to reach $441M.
- Polestar Automotive ( PSNY ) revealed that it delivered 12,076 vehicles in Q1, a record for the EV maker. The firm added that its revenue climbed 21% from last year to reach $546M, although this was short of analysts' projections. PSNY added that the start of production for its Polestar 3 is now expected in Q1 of 2024.
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4 stocks to watch on Thursday: Disney, Alphabet and more