Moderna, PayPal, CVS Health Rise pre-release; Airbnb and Match Group Fall By Investing.com

By Peter Nurse

Investing.com — Featured Stocks in premarket exchange on Wednesday, August 3. Please refresh for updates.

• SVC Health (NYSE:) Shares rose 4% after the pharmaceutical company raised its full-year profit forecast based on strength in its insurance business and sales of over-the-counter COVID-19 test kits.

• Modern (NASDAQ:) Shares rose 3.7% after the drugmaker maintained its full-year sales outlook for its COVID-19 vaccine despite falling orders from low- and middle-income countries via the international vaccine sharing program COVAX.

• Regenerate (NASDAQ:) the stock rose 1.9% despite a steep decline in , hurt by lackluster sales of its COVID-19 antibody cocktail. However, this success was partially offset by strong sales of its blockbuster drugs, including anti-inflammatory drug Dupixent and eye treatment Eylea.

• PayPal (NASDAQ:) Shares soared 14% after the fintech company raised its full-year profit forecast, also helped by activist investor Elliott Management which took a stake of more than $2 billion.

• Airbnb (NASDAQ:) Shares fell 5.7% after the vacation rental company forecast bookings for the current quarter at the same level as the previous record, a disappointment as investors expected much more in a context of booming summer demand.

• Matching group (NASDAQ:) Shares fell 21% after the parent company of a number of dating apps provided a disappointing revenue forecast for the current quarter, with growth hurt by the continued fallout from COVID- 19 and a heavy impact on foreign sales.

• Advanced micro-systems (NASDAQ:) The stock fell 5.3% after the chip designer forecast third-quarter revenue slightly below estimates, seeing a tough market ahead.

• Robin Hood (NASDAQ:) The stock rose 2.5% after the brokerage firm announced a new round of layoffs affecting 780 employees, or about 23% of its workforce, as it seeks to further cut costs after experiencing a 44% drop in revenue due to the collapse in business activity.

• Starbucks (NASDAQ:) Shares rose 1.5% after the coffee chain beat estimates as higher prices and strong US demand helped offset a hit to businesses in China from further shutdowns of COVID-19.