Stock futures edged higher Tuesday morning as investors positioned ahead of key U.S. retail sales data and the highly anticipated Federal Reserve interest rate decision later this week.
Here are some of Tuesday’s biggest stock movers:
Biggest stock gainers
- WEBTOON Entertainment (NASDAQ:WBTN) +60% – Shares surged after Walt Disney (DIS) announced a partnership with Webtoon to develop a digital platform featuring over 35,000 Disney comics, including Marvel, Star Wars, and 20th Century Studios titles. Disney will also acquire a 2% stake in Webtoon, though financial terms were not disclosed. The platform, operated by Webtoon, will offer both vertical and traditional formats with archived, current, and original stories. It will be available to Marvel Unlimited subscribers, while Disney+ subscribers can access titles for free through Disney+ Perks. Some content will also be localized for Webtoon’s Korean and Japanese platforms.
- High Tide Inc. (NASDAQ:HITI) +8% – Shares jumped after the Canadian cannabis retailer posted Q3 results that beat expectations, with revenue of $149.7M vs. $106.5M consensus and adjusted EPS of $0.01 vs. -$0.01 expected. Same-store sales rose 7.4% Y/Y, while core brick-and-mortar revenue grew 18%. Free cash flow climbed 148% Y/Y to $7.7M, and the company returned to net profitability with $832K. High Tide’s Canna Cabana chain now holds 12% market share in Canada, and its Cabana Club loyalty program surpassed 2.15M members (+39% Y/Y). The company also completed a 51% acquisition of Remexian, expanding into Germany’s medical cannabis market, and operates 207 stores with plans to exceed 300.
Biggest stock losers
- Dave & Buster’s Entertainment (NASDAQ:PLAY) -17% – Shares tumbled after Q2 results missed expectations. Comparable store sales fell 3.0%, while adjusted profit plunged 64% to $0.40 per share versus $1.12 a year ago and $0.54 below estimates. Adjusted EBITDA declined 14% to $129.8M. Total sales rose slightly to $557.4M, missing the $562.7M estimate. Entertainment revenue fell 3%, while food and beverage revenue rose 6.3%.
- ADTRAN Holdings (NASDAQ:ADTN) -10% – Shares dipped after the company announced a $150M private offering of convertible senior notes due 2030, with an option for the initial purchaser to buy up to an additional $22.5M of notes. Proceeds will partly fund capped call transactions and repay a portion of outstanding borrowings under its 2022 credit agreement.
- Red Cat (NASDAQ:RCAT) -5% – Shares fell after the company filed a preliminary prospectus for a $300M mixed securities shelf offering. The filing clarifies that it is not an offer to sell the securities at this time.