Zoom, Lyft Rise in Premarket on Strong Results, Outlook By Investing.com

© Reuters.

By Geoffrey Smith 

Investing.com — Stocks in focus in premarket trade on Wednesday, June 3rd. Please refresh for updates.

  • Facebook (NASDAQ:) stock was down 0.7% after the company took down various white supremacist and fake antifa accounts from its social network.
  • The move was taken by some as a sign that the company is being inevitably dragged into the furore surrounding President Donald Trump’s claims of left-wing bias at big tech.
  • Zoom Video Communications (NASDAQ:) stock was up 0.8% at another record high after posting quarterly results that beat even the upwardly-revised expectations of Wall Street.
  • Zoom said revenue grew 169% from a year earlier, while net profit hit nearly $30 million. The number of premium and other paying subscribers also exceeded expectations.
  • Intercontinental Exchange (NYSE:) stock was down 0.4%, after its latest trading statistics failed to hit the highs seen in April.
  • Lyft (NASDAQ:) stock rose 4.7% after the company said ride volumes rose 26% in May after cratering in April due to lockdown measures.
  • AMC Entertainment (NYSE:) stock fell 2.3% after the movie theater operator warned it may have to file for bankruptcy if it’s forced to keep its theaters closed any longer.
  • General Electric (NYSE:) stock rose 1.8% and Caterpillar (NYSE:) stock rose 1.7% as the wholesale rotation out of growth stocks into cyclicals continued.
  • Tiffany & Co (NYSE:) stock fell another 1.9% amid reports that French luxury giant LVMH  (OTC:) may pull out of its agreed deal for the jeweler.
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