Videogame publisher Electronic Arts cut its forecast for annual bookings, citing weakness in its established soccer franchise, sparking concerns over a slowdown in the key sports division and sending shares tumbling 11.3% in overnight trading.
While EA’s rival Unity Software shares jumped 4.1% in overnight trading after UBS raised its price target to $23 From $21.
AST SpaceMobile shares tumbled 12.8% in overnight trading following the company's announcement of a proposed private offering of $400.0 million in convertible senior notes due 2032. The move comes as the space-based cellular broadband network provider seeks to raise capital, with the potential for dilution causing concern among investors.
Some Chinese ADRs gained in overnight trading after China's securities regulator and finance ministry announced a series of measures aimed at channeling more funds from public investment products and insurers into the A-share market over the next few years. Tiger Brokers rose 3.8%; iQiyi rose 3.6%; Bilibili rose 3.3%; Li Auto rose 2.4%; NetEase rose 1.3%; XPeng rose 1.2%.
Chip stocks pulled back in overnight trading after a surge. Micron Technology fell 2.6%; ARM Holdings fell 1.4%; Nviida and Super Micro Computer fell 1.1%.
Vince shares surged 64.3% in overnight trading after the retail company announced that P180 has acquired a majority stake from Sun Capital Partners. As part of the transaction, Brendan Hoffman is expected to become CEO effective February 3, 2025, replacing interim CEO David Stefko, who will remain on the board.
Comments