The stock market opened in the red on Thursday, with the Dow Jones Industrial Average on pace to snap its recent streak of gains. However, there were some notable moves in individual stocks that caught investors’ attention.
Las Vegas-based PlayAGS, a maker of online casino games, agreed to be bought out by Brightstar Capital Partners, a middle market private equity firm, for $1.1 billion, representing a 40% premium to Wednesday’s closing price. This deal is expected to close in the second half of the year.
Meanwhile, Costco Wholesale saw its shares rise by 0.6% after reporting April sales of $19.80 billion, a 7.1% increase from the same period last year.
On the other hand, some stocks were making big moves in premarket trading. Planet Fitness, Tapestry, and Warner Bros. Discovery all saw declines after reporting revenue misses or issuing disappointing guidance.
Roblox shares plummeted nearly 30% after the video game developer cut its guidance for the full year, citing lower-than-expected bookings in the first quarter.
In international news, the Bank of England held its rate steady but hinted at potential rate cuts in the future. Meanwhile, the Bank of Japan discussed the possibility of raising interest rates faster than expected.
In Japan, real wages declined for the 24th consecutive month in March, while Mitsubishi Motors Corp shares fell after the automaker forecasted lower annual profit.
Disney and Warner Bros. Discovery announced plans to bundle their streaming services, while Airbnb reported strong quarterly results driven by special event travels.
Overall, stock futures were little changed on Thursday following a positive streak for the Dow Jones Industrial Average. Investors will be closely watching for any further developments in the market throughout the day.
