Advanced Auto Parts, SoFi, Twilio and more

Check out which companies are making headlines in pre-market trading.

SoFi – the financial services platform, added nearly 7%. A deal to raise the US debt ceiling would be on track for a vote on Wednesday that would resume student loan payments.

Carvana – Shares were down nearly 4% in premarket trading. Carvana stock has been on fire so far this year with a gain of 189% since the start of 2023.

Anheuser-Busch — The beer giant fell 1.7%. Lower sales volume across the company’s product portfolio supported the decline, with Bud Light leading a decline of 25.7% for the week ended May 20, according to Evercore.

Hewlett Packard Enterprise – Hewlett Packard Enterprise fell nearly 8% on the back of mixed quarterly numbers. The company earned an adjusted 52 cents per share, beating Refinitiv’s forecast of 48 cents per share. However, revenue of $6.97 billion fell short of the consensus estimate of $7.31 billion.

Twilio — shares gained 3.6% After a report that Legion Partners is looking to make changes to the robotic communications company’s board of directors, in addition to liquidations.

Ambarella — The chip stock fell 18% after Ambarella shared disappointing guidance for the second quarter. Ambarella expects second-quarter revenue of between $60 million and $64 million. Analysts expected guidance of about $66.9 million, according to StreetAccount.

Advance Auto Parts – The auto parts seller is down more than 25% after losing a big profit. The company reported 72 cents adjusted per share versus Refinitiv’s forecast of $2.57 per share. Advance Auto Parts also cut its quarterly earnings.

C3.AI – Artificial intelligence stocks fell 5.8% ahead of Wednesday’s quarterly results. Analysts polled by FactSet had expected adjusted quarterly earnings of 3 cents per share.

American Airlines — Shares of the air carrier rose nearly 2% after the company raised forecasts for the second quarter. American increased expected earnings per share from between $1.20 and $1.40 to between $1.45 and $1.65. It also increased its profit margin forecast to between 12.5% ​​and 14.5% from between 11% and 13%.

— CNBC’s Samantha Sobin, Fred Imbert and Tanaya Machell contributed to reporting