Lyft, Expedia, Yelp and more
The Lyft Driver Hub can be seen in Los Angeles, California.
Lucy Nicholson | Reuters
Check out the companies making the biggest moves in premarket trading:
lyft – The ride-sharing company rose 31.5% after issuing weak guidance in its earnings report for the fiscal first quarter. Lyft expects revenue of about $975 million, according to StreetAccount, down from the $1.09 billion analysts were expecting. Several analysts downgraded the stock as a result.
Expedia — Shares of the travel company fell 2.4% after a disappointing quarterly report. The company reported adjusted earnings per share of $1.26 on sales of $2.62 billion. Analysts had estimated earnings of $1.67 per share on sales of $2.70 billion, according to Refinitiv.
howl — The consumer ratings platform is up more than 5% in the premarket after posting $309 million in fourth-quarter revenue, beating analysts’ expectations of $307 million. Earnings per share were in line with estimates.
cloud flare — The cloud service provider released quarterly earnings that beat expectations after the trading day on Thursday. Cloudflare is up almost 8% in the premarket.
Freyr battery — Shares of the battery maker rose 4% after Bank of America initiated coverage of the stock with a buy rating. The Wall Street firm said Freyr was months away from its first major catalyst, manufactured cells.
Confirm – Affirm shares fell 3.7% before the bell after Morgan Stanley downgraded Buy Now, Pay Later stock from an outperform rating to equal weight following recent earnings results. According to the Wall Street firm, Affirm’s offering appears too limited.
Deutsche Bank — Deutsche Bank shares fell more than 3% in premarket 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 dependent” and that other European competitors are more attractive.
DexCom — The medical device company is up 3.5% premarket after reporting adjusted earnings per share of 34 cents versus 27 cents per StreetAccount analysts were expecting. Revenue also exceeded expectations. Earlier this week, DexCom unveiled its Super Bowl commercial starring Nick Jonas.
Newell brands — The parent company of Rubbermaid and Yankee Candle fell 7.5% after reporting earnings that missed analysts’ expectations. CEO Ravi Saligram said the company was impacted by a difficult operating environment, including slowing consumer demand.
– CNBC’s Samantha Subin, Hakyung Kim, Jesse Pound and Michael Bloom contributed coverage.
https://www.cnbc.com/2023/02/10/stocks-making-the-biggest-premarket-moves-lyft-expedia-yelp-and-more.html Lyft, Expedia, Yelp and more