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Premarket Movers Friday - L Brands, NIO, MSG Networks, GameStop

Stocks moving in premarket trading Friday include NIO, L Brands, GameStop and MSG Networks.

Stock futures were mostly higher Friday as investors cheered progress on vaccine distribution and optimism about the prospects for a strong economic recovery from the pandemic grew.

Dow Futures Gain as Reopening Trade Accelerates; US Yields Move Higher

Here are some of the top movers during premarket trading on Friday.

1. L Brands LB | Up 5.4%

Shares of L Brands  (LB)  rose after the parent of Victoria's Secret and Bath & Body Works raised its earnings guidance for the first quarter thanks to improved sales as consumer spending rebounded.

The company said it expected earnings of 85 cents to $1 a share, higher than its previous estimate of 55 cents a share to 65 cents a share.

"The environment remains uncertain, and there is no assurance that these improved trends will continue," the company said.

2. NIO NIO | Down 7.8%

U.S.-listed shares of NIO  (NIO)  fell after the Chinese electric-car startup said it was shutting a factory for five days due to the global semiconductor shortage, which has hampered car and truck production.

3. GameStop GME | Up 5.4%

Shares of GameStop  (GME)  were higher after the videogame retailer, a favorite of the Reddit crowd, jumped nearly 53% in the previous session and recovered its $4.3 billion loss in value

No company news appeared to drive Thursday's price action. 

4. MSG Networks MSGN | Down 2.4%

Shares of MSG Networks  (MSGN)  fell after the sports media company agreed to be acquired by Madison Square Garden Entertainment  (MSGE) . The all-stock deal values MSG Networks at $921.8 million.

The move would recombine the two companies after they split in 2018. MSG said the deal would help "capture more of the emerging revenue opportunity related to the potential expansion of legalized sports gaming in its market."