Premarket Movers | CAVA Group, AMC Rise 7% Each; Optical Stocks Jump with POET Technologies up over 4%, Applied Optoelectronics up over 3%

CAVA Group rose 7% in pre-market trading, trading at $83.8 per share. The surge was driven by the company's first-quarter earnings report, which significantly exceeded Wall Street expectations on both top and bottom lines.

Specifically, CAVA reported Q1 earnings per share of $0.20, beating the analyst consensus estimate of $0.17 by 17.65%. Quarterly revenue reached $438.3 million, representing approximately 32% year-over-year growth from $331.8 million and substantially exceeding the consensus estimate of $418.5 million. Same-store sales grew 9.7%, supported by notable traffic increases. Based on this strong performance, the company raised its full-year fiscal guidance.

AMC Entertainment shares rose 7% in premarket trading amid fresh insider buying.

AMC CEO Adam Aron disclosed the purchase of 250,000 shares of AMC stock in a Form 4 filing released after the market close on Tuesday.

Aron purchased the shares in multiple transactions on Tuesday at an average price of approximately $1.38 per share. The AMC CEO now owns a total of approximately 2.44 million shares of AMC stock.

Optical communication stocks jumped in premarket trading. POET Technologies up over 4%; Applied Optoelectronics up over 3%.