- By Omar Venerio

Wall Street edged higher on Wednesday pre-market trading, after yesterday"s record close of all the three indexes. Further, investors are attentive to the minutes of the Federal Reserve"s meeting.

Shares of GameStop Corp. (GME) j umped more than 7% in pre-market session, ahead of reporting financial results for the third quarter. The company posted EPS of 54 cents and beat estimates by 11 cents, while revenue of $1.99 billion also beat by $30 million, and was up 1.5% year over year.

• Warning! GuruFocus has detected 4 Warning Sign with GME. Click here to check it out.

• GME 15-Year Financial Data

• The intrinsic value of GME

• Peter Lynch Chart of GME

New hardware sales increased 8.8% and new software sales increased 5.4%. Worldwide omnichannel sales increased by 38.6%. Digital sales and non-GAAP digital receipts increased 11.9% and 8.3%, respectively. On the other hand, pre-owned sales decreased 2.4%. On a reported basis, digital sales declined 16.8% to $37.2 million, while non-GAAP digital receipts inched up 1.8% to $263.7 million. Collectibles sales increased 26.5% to $138.4 million.

Dan DeMatteo, interim CEO, said that revenues and results were fueled by a strong software demand and continued momentum for Nintendo Switch and collectibles. He commented, "As we enter the fourth quarter, we are encouraged by the initial customer response to Microsoft"s Xbox One X, and believe that the holiday season results will be driven by new console hardware and collectibles. Our Technology Brands AT&T Wireless business underperformed our expectations for the third quarter and we anticipate that the fourth quarter results will be highly dependent on the availability of Apple"s next-generation iPhone X."

Gainers

o Deere & Company (DE)

o Signet Jewelers Limited (SIG)

o Range Resources Corporation (RRC)

o Newfield Exploration Company (NFX)

Losers

o Hewlett Packard Enterprise Company (HPE)

o HP Inc. (HPQ)

o Agilent Technologies, Inc. (NYSE:A)

o Salesforce.com, inc. (CRM)

Global Markets

The main European stock markets traded mostly lower. The U.K."s FTSE gained 0.10%, while the France"s CAC slid 0.25%, the Spain"s Ibex decined 0.32% and the Germany"s Dax closed down 1.16%.

In Asia, Japan"s Nikkei gained 0.48%, Hong Kong"s Hang Seng closed up 0.62%, India"s BSE Sensex inched up 0.25% and China?s Shanghai jumped 0.59%.

Disclosure : The author holds no positions in any stocks mentioned.

This article first appeared on GuruFocus.

• Warning! GuruFocus has detected 4 Warning Sign with GME. Click here to check it out.

• GME 15-Year Financial Data

• The intrinsic value of GME

• Peter Lynch Chart of GME