Under Armour, Zillow, Expedia and others
Take a look at the top companies that made headlines long before the bell rang.
Under Armour (UAA) – The athletic apparel maker reported an adjusted quarterly profit of 14 cents per share, doubling consensus estimates, with better-than-expected revenue. Under Armour was able to see strong demand for their athletic wear. The company also saw higher prices being implemented in order to compensate increased costs. Under Armour stated that its gross margins for this quarter would drop by 200 basis points due to supply chain problems. The stock fell 2.6% during premarket actions.
Newell Brands (NWL) – The household products maker’s stock added 1.2% in premarket trading after reporting better-than-expected profit and revenue. The company also provided a optimistic profit forecast. Sunbeam, Mr. Coffee, Crock-Pot, and Mr. Coffee earned an adjusted 42c/share in the most recent quarter. That’s 10 cents higher than expected.
Zillow Group (ZG) – Zillow posted an adjusted quarterly loss of 42 cents per share, compared with a projected loss of $1.07. Also, the real-estate website operator reported higher-than expected revenue. These results were achieved despite a $881 million loss in its home flipping business. Zillow shares gained 13.2% during the premarket
Expedia (EXPE) – Expedia earned an adjusted $1.06 per share for its latest quarter, beating the 69-cent consensus estimate, though the travel services company’s revenue was just shy of analyst forecasts. Expedia stated that the Covid impact on travel bookings had been significant but was less severe than in previous Covid waves. Premarket trading saw Expedia rise by 4.6%
Aurora Cannabis (ACB) – Aurora Cannabis reported better-than-expected cannabis sales during its latest quarter, the first time it’s been able to exceed analyst estimates in more than a year. Aurora’s quarterly loss was $59M, far less than the previous year. In premarket trading, Aurora stock lost 4.6%
Zendesk (ZEN) – Zendesk rejected a takeover bid of $127 to $132 per share from a group of private equity firms. According to the software company, it plans to continue with its acquisition plan for SurveyMonkey parent. Momentive Global(MNTV) despite Jana Partners, an activist investor, pushing for the termination of the deal. Momentive Global increased 7.9% while Zendesk was up 2.7%.
GoDaddy (GDDY) – GoDaddy beat estimates by 11 cents with adjusted quarterly earnings of 52 cents per share and better-than-expected revenue. A $3 billion share purchase program was also announced by the cloud computing company. GoDaddy jumped 5.8% on the premarket.
Yelp (YELP) – Yelp more than doubled the 14-cent consensus estimate in reporting a quarterly profit of 30 cents per share. In addition to reporting better than expected revenue, the online review site operator reported stronger advertising revenues. Premarket activity saw Yelp rise by 4.5%
Affirm Holdings (AFRM) – The financial technology company — best known for its buy-now-pay-later plans — tumbled 10.4% in the premarket after plummeting 21.4% in Thursday trading. Affirm stock plunged in the premarket after Affirm accidentally released its quarterly report much earlier than expected. The company projected a higher volume of transactions but lower revenue. This continued the pressure.
Cedar Fair (FUN) – The theme park operator’s stock gained 2.8% in premarket trading following a Bloomberg report that private equity firm Centerbridge Partners acquired a 5% stake. Cedar Fair is currently reviewing a takeover offer of $3.4B from SeaWorld Entertainment (SEAS).