Some of the stocks that may grab investor focus today are:
- China Renaissance analyst Yi Sin Ngoh initiated coverage of Grab Holdings with a Buy rating and $4.20 price target. Combining its localized offerings with a regional partner network could drive Grab's ecosystem and increase revenue at 64% annually through 2024.
- DiDi and Full Truck Alliance(YMM) rose over 3% in Premarket trading. The Chinese government is allegedly preparing to let Kanzhun and Full Truck Alliance(YMM) that were previously banned back onto app stores, which will also allow them to resume adding new users.
- Gitlab surged over 10% in premarket trading. It narrowed its net loss to $26.1 million, or 18 cents a share, for the quarter ended April 30, from a net loss of $27.9 million, or 53 cents a share, in the year-ago period. Adjusted losses were also 18 cents a share. Analysts polled by FactSet expected an adjusted loss of 27 cents a share.
- Coinbase-backed Rain exchange, described as one of the biggest digital currency exchanges in the Middle East, says the layoffs were necessitated by the market downturn.
- Kohl's Corp. soars over 15% in premarket trading. It is in advanced talks to be sold in a deal that could value the department-store chain at roughly $8 billion, according to people familiar with the matter. It recently entered exclusive talks with Franchise Group Inc. The exclusivity period is expected to last for several weeks, so a deal isn't imminent, and there still may not be one.
- Wall Street expects United Natural Foods, Inc. to report quarterly earnings at $0.97 per share on revenue of $7.10 billion before the opening bell. United Natural Foods shares rose 4.2% to $46.80 in after-hours trading.
- Coupa Software Incorporated reported upbeat results for its first quarter. The company said it sees full-year fiscal 2023 revenue in a range of $838 million to $843 million and earnings to be between 21 cents and 27 cents per share. Coupa Software shares gained 0.6% to $72.55 in the after-hours trading session.
- Analysts expect The J. M. Smucker Company to post quarterly earnings at $1.88 per share on revenue of $1.98 billion before the opening bell. Smucker shares fell 0.6% to $122.50 in after-hours trading.
- Remitly Global, Inc. named Hemanth Munipalli as CFO. Remitly Global shares rose 1.1% to $10.99 in the after-hours trading session.
- Analysts are expecting Casey's General Stores, Inc. to have earned $1.58 per share on revenue of $3.45 billion for the latest quarter. The company will release earnings after the markets close. Casey's shares slipped 0.1% to $207.31 in after-hours trading.
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