Stocks jump: Paramount, PacWest, and Shopify company shares
Paramount Global: The media company fell 10.42% after reporting quarterly earnings.
PacWest Bancorp: PacWest fell 37% in premarket trading after the banking company said it was considering various options.
Shopify: The e-commerce platform reported quarterly results and announced the sale of its performance parts. Shopify advanced 15.63% in the premarket.
First Horizon: Banking and financial services company shares of First Horizon and Toronto Dominion Bank fell by 46%. They scrapped the $13.44 billion deal. Companies needed more certainty about whether regulatory approvals could be obtained in time.
Peloton Interactive: The fitness equipment maker advanced 2.62% in premarket trading and issued a better-than-expected forecast.
Qualcomm: Qualcomm retreated 7.72% in premarket trade after the chipmaker issued a lower-than-expected quarterly forecast. Declining smartphone sales hurt the company shares.
Shake Shack: Shake Shack rose 7% in the premarket.
Tripadvisor: Tripadvisor company shares fell 6.1% in premarket action after its adjusted quarterly earnings fell short of analysts’ estimates. TripAdvisor reported a larger loss due to the effect of tax costs related to the IRS settlement.
SolarEdge Technologies: SolarEdge traded up 10.32% in premarket shares after the solar products maker said it posted better-than-expected earnings.
Arconic: Arconic advanced 27.52% in premarket trading.
European stocks lingered lower
The Stoxx 600 index pared earlier losses and traded 0.64% lower. This was a result of the ECB confirming an expected 25 basis point interest rate hike.
Media shares decreased by 3.46%. Oil and gas was one of the few sectors to turn positive, up 0.2%.
Eurozone inflation reports released earlier this week showed core inflation rising slightly to 7% in April.
First quarter results on Thursday morning showed a profit at oil giant Shell.
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