Stock Groups

Live Nation, SeaWorld, Gannett and others

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Take a look at the top companies that made headlines long before the bell rang.

Live Nation (LYV) – The live event producer’s shares jumped 5.4% in a down market after reporting better-than-expected quarterly revenue and saying it has already sold 45 million tickets for 2022 events even as ticket prices rise substantially.

SeaWorld Entertainment (SEAS) – The theme park operator earned 92 cents per share for its latest quarter, well above the 29 cent consensus estimate. The revenue was more than doubled compared to last year, and park visitors spent more per head than before the pandemic.

Gannett (GCI) – The USA Today publisher’s shares tumbled 13.6% in the premarket after it posted a wider-than-expected loss for its latest quarter and revenue below estimates. Gannett stated that it expected revenue to decline this year, but still anticipates being profitable.

Alibaba (BABA) – The China-based e-commerce giant fell 2.5% in premarket trading after it reported its slowest-ever growth in quarterly revenue since going public in 2014. Competition intensified, and sales dropped below analysts’ expectations. Its quarterly earnings were higher than expected.

Moderna (MRNA) – The drugmaker reported quarterly earnings of $11.29 per share, beating the $9.90 consensus estimate, and revenue also beat forecasts. Moderna raised the Covid-19 full-year sales forecast, and it announced a share repurchase program of $3 billion.

Wayfair (W) – The home furnishings retailer slid 9.5% in the premarket after posting a wider-than-expected quarterly loss. Wayfair suffered double-digit sales drops in international markets which weighed on its results.

Norwegian Cruise Line (NCLH) – The cruise line operator’s shares fell 7% in premarket trading after reporting a quarterly loss that was wider than anticipated, and revenue that missed estimates as well. This morning it is among the travel stocks that are under pressure due to Russia’s invasion in Ukraine.

Papa John’s Pizza (PZZA) – The pizza chain reported better-than-expected profit and revenue for its latest quarter, as profit margins improved even in the face of increased costs. Due to uncertainty surrounding Covid-19, Papa John’s didn’t provide guidance for 2022.

Booking Holdings (BKNG) – Booking Holdings reported adjusted quarterly earnings of $15.83 per share, well above the $13.64 consensus estimate, with the travel services company’s revenue also topping Wall Street forecasts. Although the company claimed that it had seen significant improvement in bookings for its current quarter, there are still periods when Covid-19 will have a negative impact on travel. Premarket shares fell 7.6% due to weakness in travel stocks.

Hertz Global (HTZ) – Hertz beat estimates by 15 cents with an adjusted quarterly profit of 91 cents per share, though the car rental company’s revenue fell slightly short of analyst projections. Although demand for rentals cars was strong, Hertz still has to deal with post-bankruptcy restructuring costs. Hertz lost 8.4% in premarket due to a general drop in travel stock.

EBay (EBAY) – EBay came in 6 cents above estimates with quarterly earnings of $1.05 per share, while the e-commerce company’s revenue was in line with forecasts. The stock is now under pressure due to weaker-than expected quarter results by eBay. In premarket trading, EBay saw a loss of 8.4%.

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