These are the stocks posting the largest moves in the premarket.
Boss of Goldman-backed digital bank Starling to step down next month
Starling CEO Anne Boden is to step down on June 30. She will hand the reins to Starling’s COO John Mountain, who has been with the bank since 2015.
UK borrowing rates close in on last year’s ‚mini-budget‘ crisis levels
New data on Wednesday showed that the U.K. consumer price inflation rate fell by less than expected in April.
Stocks making the biggest moves after hours: Nvidia, Snowflake, American Eagle Outfitters and more
These are the stocks posting the largest moves in extended trading.
Fed officials less confident on the need for more rate hikes, minutes show
The Federal Reserve on Wednesday released minutes from its May 2-3 policy meeting.
Best Buy shares rise on earnings beat, even as CEO says shoppers are showing ‚recessionary behaviors‘
Best Buy shares rose, but the retailer expects weaker spending on consumer electronics the rest of the year.
Nvidia shares spike 26% on huge forecast beat driven by A.I. chip demand
Nvidia is the top provider of advanced GPU chips for artificial intelligence.
Snowflake shares plunge 12% on guidance miss, acquisition of search startup Neeva
Snowflake beat on the top and bottom lines for the fiscal first quarter, but it gave product revenue guidance that missed consensus estimates.
American Eagle Outfitters shares sink as retailer lowers forecast
The mall-based retailer’s results diverged from Abercrombie & Fitch’s earlier in the day.
DBRS Morningstar places US ratings under review with negative implications
This adds to the earlier decision from Fitch here, which is pretty much the same story. DBRS Morningstar notes that the review with negative implications „reflects the risk of Congress failing to increase or suspend the debt ceiling in a timely manner“. Adding that:
„While we still expect Congress to raise the debt ceiling before Treasury runs out of available resources, there is a risk of Congressional inaction as the X-date approaches. DBRS Morningstar would consider any missed payment of interest or principal as a default. In such a scenario, the relevant U.S. Issuer Ratings would be downgraded to “Selective Default.” „
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This article was written by Justin Low at www.forexlive.com.