Investing.com
Published May 07, 2020 08:44AM ET
By Geoffrey Smith
Investing.com -- Stocks in focus in premarket trade on Thursday, May 7th. Please refresh for updates.
Bristol-Myers Squibb (NYSE:BMY) stock rose 2.1% after the pharma giant comfortably beat expectations for quarterly earnings as the benefits from its merger with Celgene (NASDAQ:CELG) kicked in.
However, the company revised down the midpoint of its full-year EPS guidance to 47c from 85c previously amid the pandemic-related uncertainty.
Wynn Resorts (NASDAQ:WYNN) stock rose 0.4%, despite the casino operator reporting a predictably dire first-quarter result.
The company swung to a loss of $402 million on a 42% drop in operating revenue as the closure of its casinos in Macau and Las Vegas hit hard.
Chief executive Matt Maddox said he expected the company to benefit from pent-up demand as lockdowns across the U.S. are lifted.
DraftKings (NASDAQ:DKNG) stock was up 1.3% as the fantasy sports company appeared to have more than enough demand to absorb a big block of shares being placed by long-term shareholders.
Spirit Airlines (NYSE:SAVE) stock fell 15.2% as the company began a placement of 12 million new shares, together with $150 million of five-year convertible debt.
Written By: Investing.com
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