Let’s take a look at the companies that are making waves before the opening. Intel — Shares rose more than 1% in the premarket after the company unveiled new artificial intelligence chips aimed at competing with products from rivals Nvidia and AMD. Despite the AI boom, Intel is down nearly 40% year to date, while Nvidia and AMD are up 132% and 11%, respectively, over the same period. GameStop — GameStop fell 2% after rising 21% on Monday amid speculation that meme stock trader Keith Gill may have a major position in the video game retailer. The Wall Street Journal reported that E-Trade is considering removing Gill from the platform over concerns of market manipulation. AMC Entertainment shares fell 3% after rising 11%. Bath & Body Works — Shares of the home fragrance and personal care retailer fell 9%. Bath & Body Works beat expectations for first-quarter profit and sales but gave disappointing guidance for the current period.The company expects earnings per share in the range of 31 cents to 36 cents, compared with FactSet’s estimate of 38 cents. SentinelOne — Cybersecurity stock rose 2.3% after Canaccord Genuity upgraded it to buy from hold. The firm called SentinelOne a long-term long-term winner and said the recent selloff was “overdone.” GitLab — The software company fell 2.3% despite reporting better-than-expected profits and revenue after the market close on Monday in its first-quarter results. Adjusted earnings per share of 3 cents beat the 4 cents per share loss expected by analysts surveyed by LSEG. Revenue of $169 million beat the consensus estimate of $166 million. Alphabet — Alphabet shares fell below flat levels after the search giant cut at least 100 jobs in its cloud division, CNBC reported. — CNBC’s Fred Imbert, Alex Harring and Michelle Fox contributed reporting
Biggest movers in premarket trading: INTC, GME, BBWI
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