By Geoffrey Smith
- Stocks in focus in premarket trade on Wednesday, June 3rd. Please refresh for updates.
- Facebook (NASDAQ:FB) 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:ZM) 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:ICE) stock was down 0.4%, after its latest trading statistics failed to hit the highs seen in April.
- Lyft (NASDAQ:LYFT) 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:AMC) 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:GE) stock rose 1.8% and Caterpillar (NYSE:CAT) stock rose 1.7% as the wholesale rotation out of growth stocks into cyclicals continued.
- Tiffany&Co (NYSE:TIF) stock fell another 1.9% amid reports that French luxury giant LVMH (OTC:LVMUY) may pull out of its agreed deal for the jeweler.
