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Today's Pre-Market Stock Movers: WAL, TSLA, TGT, EVGO and More

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Movers and Shakers wrote a column · May 17, 2023 07:27
Gapping up
$Western Alliance Bancorp (WAL.US)$ +12% ( Western Alliance said its deposit growth for the current quarter exceeded $2 billion as of May 12, up from the $1.8 billion in deposit growth for the quarter through May 9.)
Zions Bancorporation +4.7% ( Regional banks moved higher in premarket trading, led by Western Alliance. The SPDR S&P Regional Banking ETF was up 1.7%.)
$Keysight Technologies (KEYS.US)$ +7.8% ( The bell Tuesday. The tech company reported adjusted earnings per share of $2.12 for its fiscal second quarter, topping the $1.95 expected by analysts, per StreetAccount. It guided for between $2.00 and $2.06 EPS for the current quarter, above analysts' forecast of $1.96.)
$Tesla (TSLA.US)$ +1.5% ( The company held its annual shareholder meeting Tuesday, during which CEO Elon Musk announced the company would deliver its first Cybertrucks later this year and would start to advertise.)
$Wynn Resorts (WYNN.US)$ +2.7% ( An upgrade to overweight from equal weight at Barclays. The Wall Street firm cited the continuing recovery in Wynn' s Macao properties and boosted its price target to $135 from $120, suggesting 31% upside from Tuesday' s close.)
Gapping down
$TJX Companies (TJX.US)$ -1% ( The retailer reported a revenue miss before the market open. First-quarter revenue came in at $11.78 billion, less than the $11.82 billion expected from analysts polled by Refinitiv. TJX also guided for second-quarter earnings per share of 72 cents to 75 cents, versus the 79 cents anticipated by analysts. Full-year guidance also fell short of estimates, even as first-quarter EPS topped estimates.)
$Target (TGT.US)$ -1% ( The company surpassed earnings expectations in the fiscal first quarter, even as sales barely grew year-over-year. Target also said it expects sales to remain sluggish in the current quarter, marked by a single digit decrease in comparable sales. The retailer stuck with its previous full-year guidance.)
$EVgo Inc (EVGO.US)$ -9% ( The EV charging network operator' s announcement late Tuesday of a $125 million offering of its common stock. JPMorgan, Evercore and Goldman Sachs are underwriting the offering.)
$Doximity (DOCS.US)$ -10% ( The company issued weak guidance for the current quarter. Doximity said it expects between $106.5 million and $107.5 million in revenue for the fiscal first quarter, less than the $111.8 million anticipated by analysts polled by FactSet. It guided for $40 million in adjusted EBITDA, below the $45.4 million expected.)
Source: CNBC
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