Shares in GameStop (GME) fell about 6% in pre-market trading after the meme stock retailer missed quarterly revenue forecasts and continued to struggle with its shift toward digital sales.
The company reported third quarter revenue of $821m (£516.6m), short of analysts’ expectations of $987.3m, according to LSEG data. It recorded net income of 13 cents a share. Adjusted earnings, which exclude non recurring charges and asset impairment costs, were 24 cents a share.
GameStop ended the quarter with $8.8bn in cash, cash equivalents and marketable securities, compared with $4.6bn a year earlier. Its bitcoin (BTC-USD) holdings were valued at $519.4m at the end of the period.
Net income rose to $77.1m from $17.4m a year earlier. On an adjusted basis, net income increased to $139.3m from $26.2m.
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The retailer has experienced pronounced volatility in its share price since the meme stock surge that briefly made it a market sensation in 2021.
Revenue from hardware and accessories, a category that includes new and pre-owned video games, fell about 12% in the quarter.
The Grapevine, Texas based business, once a dominant force in physical game retail, has struggled to redefine its model as consumers shift toward online purchases and subscription based gaming platforms instead of visiting brick and mortar stores.
NYSE – Delayed Quote • USD
At close: 9 December at 16:00:02 GMT-5
Shares in Amazon (AMZN) edged higher ahead of the US open after the e-commerce group announced plans to invest $35bn in India’s AI sector through 2030.
The commitment, disclosed at the Amazon Smbhav Summit in New Delhi, adds to almost $40bn the company has already deployed in the country. In a press release, Amazon said the new investment would focus on AI driven digitisation, export expansion and job creation, aligning with India’s national priorities to strengthen its domestic AI ecosystem.
By 2030, Amazon said the initiative is expected to create an additional 1 million direct, indirect, induced and seasonal roles in India, lift exports to $80bn and extend AI benefits to 15 million small businesses.
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Large US technology companies have funnelled billions of dollars into India this year, underlining the country’s growing strategic importance for cloud, AI and deep tech development.
India, the world’s most populous nation, remains a crucial market for Amazon, supported by a rapidly expanding internet user base.
NasdaqGS – Delayed Quote • USD
At close: 9 December at 16:00:01 GMT-5
Shares in the company topped the trending ticker list on Yahoo Finance at the time of writing after surging more than 1,000% in the previous session. The rally reversed in pre-market trading, with the stock falling 38% to $55.
Aimei Health Technology (AFJK), a Special Purpose Acquisition Company (SPAC), is preparing to merge with United Hydrogen Group Inc, a Chinese hydrogen energy business.
According to an SEC filing, the company issued an unsecured promissory note of $34,330.96 on 5 December to two entities, Aimei Health Ltd, the company’s sponsor, and United Hydrogen Group. Each contributed $17,165.48 to cover the extension payment.
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The note carries no interest and will become due once the business combination with United Hydrogen is completed. The payees may convert the note into private units at $10 per unit, with each unit comprising one ordinary share and a right to receive one fifth of an ordinary share.
NasdaqGM – Delayed Quote • USD
88.50
+80.50
+(1,006.25%)
At close: 9 December at 16:00:00 GMT-5
Shares in Berkeley Group (BKG.L) rose 2% in London after the company said it is “on track” to meet full year targets despite reporting a 7.8% decline in first half revenue and a 7.7% drop in profits.
The FTSE 100 (^FTSE) housebuilder cut operating costs by 6% but revenue fell to £1.18bn ($1.57bn) from £1.28bn, as 2,022 homes were sold across London and the South East compared with 2,103 a year earlier. The average selling price slipped to £570,000 from £600,000, a change the company said reflected the mix of properties sold.
Berkeley said its longer term outlook was more positive, particularly in London, even as it remains cautious in the near term. The company continues to face subdued demand, with analysts noting that luxury home taxes introduced in the November budget are likely to weigh on the high end builder’s performance given its exposure to London and the South of England. Still, resilient appetite for its high quality projects and new measures aimed at speeding up housebuilding in the capital are expected to support its prospects.
Richard Hunter, head of markets at Interactive Investor, said: “The Berkeley Group strategy represents a marathon, not a sprint, as part of which the group remains committed to navigating a currently difficult environment.
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In the first half of its fiscal 2026 year, sales fell 4% and pre-tax profit declined nearly 8%, with speculation over higher property taxes ahead of the budget keeping buyers on the sidelines. The company reported pre-tax profit of £254m for the six months to 31 October, down from £275.1m a year earlier.
Executive chair Rob Perrins described the results as a “highly creditable performance [that] reflects exceptional operational execution in a very challenging macro economic and regulatory environment”. He reiterated full year pre-tax profit guidance of £450m and said he expected a similar level for the 2027 financial year.
LSE – Delayed Quote • USD
As of 9:19:59 GMT. Market open.
Shareholders in Anglo American (AAL.L) and Canada’s Teck Resources (TECK, TECK-B.TO) have backed the $50bn (£37.5bn) merger between the mining groups, paving the way for the creation of one of the world’s largest copper producers under the name Anglo Teck. Anglo American shares were up in London.
Anglo American said about 99% of its investors voted in favour of the deal. The companies will now seek regulatory clearance in multiple jurisdictions in 2026.
Duncan Wanblad, chief executive of Anglo American, said: “We are extremely pleased to have received such strong support both from shareholders and stakeholders alike.
“Bringing together the best of both companies, Anglo Teck is set up to deliver outstanding value for shareholders of both companies.
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“In the near term through a unique combination of industrial and other synergies, and in the longer term by applying proven capabilities to exceptional growth optionality, offering investors more than 70% exposure to copper.”
The merged group will be headquartered in Vancouver while retaining corporate offices in the UK and Johannesburg. Anglo American shareholders will own about 62.4% of the company and Teck investors the remaining 37.6%. The business will keep its primary listing on the London Stock Exchange, with secondary listings in Toronto, South Africa and New York.
The vote came shortly after Anglo American abandoned proposed changes to long term incentive schemes that would have handed senior executives multimillion pound bonuses once the merger was completed. The FTSE 100 (^FTSE) group dropped the plans following shareholder objections.
LSE – Delayed Quote • USD
As of 9:20:10 GMT. Market open.
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