Stocks making the biggest moves in the premarket: Snowflake, Vertex Pharmaceuticals, Chewy & more

SectorFinancial Markets
CountryMiddle east

(SNOW) – Snowflake shares fell 3.7% in premarket trading, following the cloud computing company’s presentation of financial targets at its Investor Day meeting. Snowflake set a target of reaching $10 billion in annual product revenue by 2029, compared to $554 million in its fiscal year that ended in January. (VRTX) – The drugmaker halted development of an experimental drug designed to treat a rare genetic disease called AAT Deficiency.

Vertex said the drug raised levels of a deficient protein, but not enough to provide a substantial benefit. Vertex plunged 13.9% in the premarket. (CHWY) – Chewy earned 9 cents per share for its latest quarter, compared to consensus forecasts for a 3 cents per share loss. The pet products retailer’s revenue also beat estimates and gave an upbeat revenue outlook. Chewy also warned of labor shortages and supply chain issues that are impacting product availability. (PLAY) – Dave & Buster’s reported a surprise profit for its first quarter, with earnings of 40 cents per share. Analysts had predicted a loss of 16 cents per share for the restaurant chain. Dave & Buster’s said the recovery in its business has continued through the first part of the current quarter, and its more...