Biggest stock movers Wednesday: GME, PLAY, and more

Stock futures inched lower in early Wednesday trading as investors showed a muted enthusiasm for a newly announced trade agreement between the United States and China. Meanwhile, market participants’ attention turned to a key gauge of U.S. inflation, CPI data, due later today.

Here are some of Wednesday’s biggest stock movers:

Biggest stock gainers

• Dave & Buster’s (NASDAQ:PLAY) +5% – Shares rose despite a mixed Q1 report that showed a marginal revenue beat, a significant EPS miss, and an 8.3% decline in comparable sales. “While performance in the first quarter was nowhere close to where we want and expect to be, our back-to-basics strategy is working,” said interim CEO Kevin Sheehan, expressing confidence in a stronger financial trajectory. For FY2025, the company reaffirmed guidance for capex below $220M, pre-opening expenses of about $20M, and cash interest costs between $130M and $140M.

Biggest stock losers

• GameStop (NYSE:GME) -4% – Shares declined after the company posted mixed FQ1 results, with revenue down 16.9% Y/Y despite swinging to a net income of $44.8M from a loss of $32.3M a year ago. EPS came in at $0.17, topping the $0.04 consensus and improving from a loss of $0.12 last year.
• GitLab (NASDAQ:GTLB) -13% – Shares fell 12% after the DevOps company issued slightly underwhelming Q2 and full-year guidance. For Q2, GitLab expects to earn between $0.16 and $0.17 per share, with revenue between $226M and $227M. The midpoint of $226.5M is slightly below the $226.58M analysts were expecting, who also anticipated adjusted earnings of $0.16 per share. GitLab also reaffirmed its full-year guidance, as it expects to earn between $0.74 and $0.75 per share on an adjusted basis, above the $0.72 per share estimate. Full-year revenue is expected to be between $936M and $942M, with the $939M midpoint slightly below the $939.7M estimate.
• American Superconductor (NASDAQ:AMSC) -12% – Shares plunged after the company announced plans for an underwritten public offering of common stock. The company intends to use the net proceeds for working capital and general corporate purposes, which may include potential strategic acquisitions.