Stock Market

In this article

The Lyft Driver Hub is seen in Los Angeles, California.
Lucy Nicholson | Reuters

Check out the companies making the biggest moves in premarket trading:

Lyft — The ride-sharing company cratered 31.5% after issuing weak guidance in its fiscal first-quarter earnings report. Lyft said it anticipates about $975 million in revenue, lower than the $1.09 billion analysts expected, according to StreetAccount. Several analysts subsequently downgraded the stock.

Expedia — The travel company’s shares fell 2.4% after a disappointing quarterly earnings report. The company reported adjusted earnings per share of $1.26 on revenue of $2.62 billion. Analysts had estimated earnings of $1.67 per share on revenue of $2.70 billion, according to Refinitiv.

Yelp — The consumer review platform gained more than 5% in the premarket after it posted fourth-quarter revenue of $309 million, topping analysts’ expectations of $307 million. Earnings per share were in line with estimates.

Cloudflare — The cloud service provider posted quarterly earnings that beat expectations after the bell Thursday. Cloudflare was up nearly 8% in the premarket.

Freyr Battery — Shares of the battery manufacturing company rose 4% after Bank of America initiated coverage of the stock with a buy rating. The Wall Street firm said Freyr is months away from its first major catalyst, manufactured cells.

Affirm — Affirm shares shed 3.7% before the bell after Morgan Stanley downgraded the buy-now-pay-later stock to equal weight from an outperform rating following its latest earnings results. According to the Wall Street firm, Affirm’s offering appears too limited.

Deutsche Bank — Shares of the German bank dipped more than 3% in pre-market trading after Deutsche Bank was downgraded to underperform from neutral at Bank of America. The investment firm said in a note to clients that Deutsche Bank’s growth remains “volume reliant” and that other European peers were more attractive.

DexCom — The medical device company gained 3.5% in the premarket after reporting adjusted earnings-per-share of 34 cents, versus the 27 cents expected by analysts, per StreetAccount. Revenue also beat expectations. Earlier this week, DexCom unveiled its Super Bowl ad featuring Nick Jonas.

Newell Brands — The parent company of Rubbermaid and Yankee Candle slumped 7.5% after reporting earnings that missed analysts’ expectations. CEO Ravi Saligram said the company was impacted by a tough operating environment, including slowing consumer demand.

— CNBC’s Samantha Subin, Hakyung Kim, Jesse Pound and Michael Bloom contributed reporting.

Articles You May Like

Mortgage demand flattens even as interest rates hit the lowest level since March
Poll predicts Rishi Sunak to lose seat in Tory wipeout
California hospitals may get more time to meet earthquake safety mandates
Utah lawmakers OK tweaks to law aimed at keeping coal plant alive
Home prices hit record high in May as sales stall