Several stocks swung sharply before Tuesday's bell. Dave & Buster's shares plunged 17% on a weak quarter, Enova International dropped after scrapping a bank-acquisition bid, and Etsy rose on an analyst upgrade tied to AI-driven shopping.
Dave & Buster's Entertainment shares plunged 17% after its second-quarter results disappointed investors. The arcade and restaurant operator reported revenue of $544.1 million, missing the $556.8 million FactSet consensus. Adjusted EBITDA of $98.9 million also missed the $120.4 million analysts had expected, and the company posted an unexpected adjusted loss of 27 cents a share against a forecast profit of 18 cents.
Enova International tumbled as well, falling more than 15% after the online lender said it is withdrawing its regulatory applications for the proposed acquisition of Grasshopper Bancorp. Enova did reaffirm its third-quarter and full-year guidance, and it announced plans to accelerate share repurchases.
Sysco slid too. The wholesale distributor to restaurants, hospitals and schools slipped nearly 2%. Sysco had announced a common stock offering of 12.3 million shares priced at $81 each.
Etsy shares popped 3% after Oppenheimer upgraded the online marketplace to outperform from perform, citing a likely boost from artificial intelligence for virtual shopping. The firm also set a $90 price target, suggesting 21% upside from Monday's close.
Source: CNBC
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