GameStop, American Eagle Outfitters, Asana and more

GameStop – GameStop rose 9.2% pre-hours despite sharing a widening quarterly loss and falling sales. The video game retailer also announced a partnership with crypto exchange FTX. GameStop’s results could not be compared since few analysts cover the company.

Asana — Asana’s stock jumped 19% in premarket after a beat on the top and bottom lines for the previous quarter. The communications software company posted a smaller-than-expected loss of 34 cents per share on revenue of $134.9 million. Revenue guidance for the current quarter also came in ahead of Wall Street’s expectations.

American Eagle Outfitters — The retailer’s stock fell 14.5% in premarket trading after earnings per share for the quarter fell 9 cents short of expectations, according to analysts surveyed by Refinitiv. American Eagle Outfitters also said it expects higher markdowns and increased promotions given the current retail environment.

Dave & Buster’s — Dave & Buster’s shares rose 3.5% after the company posted better-than-expected quarterly earnings. The company’s top line came in at $468.4 million, topping a StreetAccount forecast of $432.9 million. Comparable store sales also beat expectations for Dave & Buster’s.

First Solar — First Solar’s shares rose 4.4% after Goldman Sachs twice upgraded the solar energy stock to buy, saying the company is an immediate beneficiary of the Inflation Reduction Act.

Frontier Group — Shares of the low-cost airline fell 2.9% on a downgrade to market performance from outperform by Raymond James. Shares in Allegiant Travel rose on the back of an upgrade to outperform in the same note.

Moderna — Moderna’s stock rose 1.8% after Deutsche Bank upgraded the stock to a buy rating, citing revisions to estimates following strong quarterly results.