EV Demand Jolts This Stock

By George Banko

May 5, 2022

Good morning Wake-Up Watchlisters! While you’re sipping that café au lait you’ll see stock futures edged lower after a late rally Wednesday. The rally came after investors were relieved to hear the Federal Reserve was unlikely to raise interest rates higher in the coming months.

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Here’s a look at the top-moving stocks this morning.

Albemarle Corporation (NYSE: ALB)

Albemarle Corporation is up 14.24% premarket after the mining company reported earnings of $2.38 per share, beating the Zacks Consensus Estimate of $1.73 per share. The quarterly report represents an earnings surprise of 37.57%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. With lithium prices soaring due to demand for electric vehicles, Albemarle Corporation is a stock to keep an eye on.

Booking Holdings (Nasdaq: BKNG)

Booking Holdings rose 9.83% premarket as the online travel agency posted first-quarter earnings that blew past Wall Street estimates. The company is preparing for a “busy travel season” and shares are up to $2,310. As travel continues to ramp up, Booking Holdings is a stock to watch.

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SunRun (Nasdaq: RUN)

Sunrun Limited is up 7.85% premarket as the solar company reported higher than estimated sales. Revenue rose 48% to $496 million, surpassing the Zacks Consensus Estimate by 29.45%. Keep an eye on SunRun going forward.

Live Nation Entertainment (NYSE: LYV)

Live Nation Entertainment is up 5.66% premarket as the company is expected to report earnings before the opening bell. Its expected the company’s revenue will benefit from pent-up demand for live events and robust ticket sales. Higher ticket prices should also be a positive factor. Overall, Live Nation is looking strong.

Etsy (Nasdaq: ETSY)

Etsy is down 11.28% premarket and the company is trading at near two-year lows. The reporting quarter had numbers that weren’t that bad, with revenue coming in at $579.3 million vs. $575.6 million expected. However, its next quarter forecast is disappointing, with $540-590 million forecast vs. a $628 million estimate. Etsy is looking volatile right now.