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GME.NY 0.91%
GameStop Corp – Reported first-quarter revenue that exceeded market expectations on Wednesday, as the video game retailer pivots toward a more online-focused model amid increasing competition from large retailers such as Walmart Inc and Amazon. GameStop said its inventory in the quarter rose to $917.6 million from $570.9 million a year earlier, sales of software and collectibles contributed to over 50% of total quarterly revenue for the first time since the third quarter of 2020. The company’s net sales were $1.38 billion in the quarter, above analysts’ average estimate of $1.32 billion, according to Refinitiv data. Net loss for the company widened to $157.9 million, or $2.08 per share, for the first quarter, from $66.8 million, or $1.01 per share, a year earlier.

CHWY.NY 19.97%
Chewy Inc – The pet retailer reported quarterly adjusted earnings of 4 cents​​ per share for the quarter ended in April. The mean expectation of twenty analysts for the quarter was for a loss of 14 cents per share. The company reported quarterly net income of $18.47 million. Revenue rose 13.7% to $2.43 billion from a year ago; analysts expected $2.42 billion. The company expects Q2/22 revenue in the range of $2.43-2.46 billion, compared to the consensus estimate of $2.48 billion. For the full 2022-year, the company expects revenue to be in the range of $10.2-10.4 billion, compared to the consensus estimate of $10.56 billion. JP Morgan PT increase this morning.

FB.NQ 0.69%
Meta Platforms – Chief Operating Officer Sheryl Sandberg said in a Facebook post Wednesday she would leaving the company after 14 years. The announcement initially sent the social media firm’s shares down 4%, but the stock was nearly flat in after hours trade. Zuckerberg said in a separate post current Chief Growth Officer Javier Olivan will take over as chief operating officer. Olivan has worked at Meta for more than 14 years and has led teams handling Facebook, Instagram, WhatsApp and Messenger.

F.NY 1.55%
Ford Motor Co – On watch ahead of a key “economic announcement” from the company set for 9am this morning.

AI.NY -19.68%
C3 Ai Inc – Sharply lower after forecasting annual and Q1 revenue below estimates, multiple downgrades and PT cuts this morning after reporting a wider Q4 loss and slowing sales. The company reported revenue of $72.3 million, up 38% from a year ago, and just ahead of the Street consensus forecast at $71.3 million. That boosted full year revenue to $252.8 million, also up 38%, and a little above the company’s guidance range of $251 million to $252 million.

PATH.NQ 12.30%
UiPath Inc – Higher after posting a smaller first-quarter loss of $122.6 million, or 23 cents a share, compared with a loss of $239.7 million, or $1.11 a share, in the year-ago period. Revenue rose to $245.1 million from $186.2 million in the year-ago quarter, while the annualized renewal run rate, or ARR, surged 50% to $977.1 million from the year-ago period. ARR is a metric often used by software-as-a-service companies to show how much revenue the company can expect based on subscriptions.

IMMX.NQ 43.24%
Immix Biopharma – Low float runner from last week sharply higher premarket on no apparent news. Last week’s move followed news of positive results from a late stage cancer trial which was followed by news of an offering from the company, increased social media attention on the stock has driven action over the past few weeks.

APRN.NY 11.07%
Blue Apron Holdings – Low float, highly shorted (15%) meal kit provider said late Wednesday it has launched its meal kits on Walmart.com which customers can buy without a Blue Apron subscription.

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