Uber, Brinker, Generac and more
Take a look at the top companies that made headlines long before the bell rang.
Uber (UBER) – Uber fell 1% in premarket trading after it reported a quarterly loss and revenue that beat estimates. Uber reported an increase in ride volume and continued growth in food delivery during the quarter.
Brinker International (EAT) – The parent of Chili’s and other restaurant chains fell 10 cents shy of estimates with adjusted quarterly earnings of 92 cents per share, and issued a weaker-than-expected earnings outlook. Brinker pointed out the challenges in commodity and labor cost, which led to shares falling 10.3% at premarket.
Generac (GNRC) – The maker of backup generators and other power equipment jumped 5.3% in the premarket after beating top and bottom-line estimates for its latest quarter. Generac’s adjusted earnings were $2.09 per share, which beat the consensus estimate of $1.94.
Moderna (MRNA) – Moderna shares rallied 8.1% in premarket trading, as the vaccine maker’s quarterly results came in well above estimates. Moderna reported a quarter-end profit of $8.58 per Share, which was higher than the consensus estimate at $5.21.
Tupperware (TUP) – The storage products maker saw shares slump 19.9% in the premarket after it missed top and bottom-line estimates for its latest quarter and withdrew its full-year forecast. The company also cited uncertainties related to Russia/Ukraine’s conflict and fundamental changes to its business.
Lyft (LYFT) – Lyft plummeted 25.4% in premarket trading after the ride-hailing company said it would increase spending to attract more drivers, leading to an earnings forecast that fell short of Wall Street predictions.
Starbucks (SBUX) – Starbucks matched estimates with an adjusted quarterly profit of 59 cents per share, and revenue slightly above estimates. Howard Schultz, the CEO of Starbucks Coffee Chains, spoke out about improved wages for employees and better benefits. He also said that unionized coffee chains would have to make their own deals. Starbucks saw a 6.4% increase in premarket sales.
Advanced Micro Devices (AMD) – AMD shares surged 6.1% in the premarket after the chipmaker reported a top and bottom-line beat for its latest quarter. AMD posted an adjusted $1.13 per-share profit, against a consensus estimate for 91 cents. It also issued a stronger-than-expected outlook amid increased demand from data centers for its chips.
Airbnb(ABNB) – Airbnb reported a quarter-end loss of just 3 cents per share. This was less than analysts had expected at 29 cents. As hosts raised prices, Airbnb’s revenue also beat expectations. However, travelers booked rentals even as they were priced higher than expected. Premarket activity saw Airbnb rise 5.2%.
Match Group (MTCH) – Match Group shares slid 6.1% in premarket trading, following the news that the dating service’s CEO Shar Dubey will resign at the end of May. The CEO of the dating service Shar Dubey will be replacing her. ZyngaBernard Kim is president of ZNGA. Match Group, however, reported higher-than-expected revenue and profit for the latest quarter.
Livent (LTHM) – The lithium producer’s shares soared 19.8% in premarket action after it posted better-than-expected quarterly earnings and raised its 2022 revenue forecast. Livent benefits from the strong demand for lithium, which is used in electric vehicle battery batteries.
Akamai Technologies (AKAM) – The cybersecurity company’s shares plunged 13.9% in the premarket after Akamai missed bottom-line estimates for its latest quarter, although revenue was in line. Chief Executive Officer Tom Leighton pointed out that the company was facing a difficult global environment and headwinds due to strong U.S. dollars.