Premarket movers: Smith & Wesson jumps 11.7%, Lululemon tumbles 20%

  • AMC Entertainment gained 5.5% after its CEO criticized Robinhood's AMC stock tokens.
  • Smith & Wesson rose 11.7% after reporting 6 cents per share and $112.6 million revenue.
  • Lululemon Athletica fell 20% after forecasting below-consensus quarterly earnings and revenue.

Smith & Wesson shares surged 11.7% after the firearms manufacturer beat analyst expectations for quarterly earnings and revenue, while Lululemon Athletica plunged 20% on a weaker-than-expected current-quarter forecast. AMC Entertainment gained 5.5% after its CEO criticized Robinhood's stock tokens (digital representations of shares) for AMC and other companies; Robinhood slipped nearly 2%. Rare earth stocks also rose after Reuters reported that some Chinese companies halted U.S. shipments because of geopolitical concerns. Planet Labs climbed 13% on stronger-than-expected second-quarter results, and Samsara jumped 15% after issuing upbeat full-year guidance. Asana, Guidewire Software and UiPath fell on guidance concerns, while Zscaler slipped nearly 2% despite an earnings beat. Adobe declined nearly 3% after naming Anil Chakravarthy as its next CEO.

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