Take a look at some of the biggest movers in the premarket:
Etsy (ETSY) – Etsy shares plunged 11.1% in premarket trading after the online crafts marketplace warned of slowing user growth. Etsy beat estimates by 12 cents a share, with quarterly profit of $1.00 per share. Revenue also beat forecasts. Etsy declined to provide full-year financial guidance.
Uber (UBER) – Uber lost 6 cents per share for its latest quarter, compared to expectations of a 54 cents a share loss. Revenue was below forecasts, however, and Uber indicated it would pay drivers more to get cars back in service as the economy rebounds. Uber fell 3.7% in premarket trading.
Zynga (ZNGA) – Zynga earned 8 cents per share for the first quarter, a penny a share shy of estimates. The mobile game producer’s revenue exceeded estimates and Zynga raised its full-year guidance on expectations of strong demand for its live gaming services. Its shares surged 5% in premarket action.
Rocket Companies (RKT) – Rocket Companies reported quarterly earnings of 89 cents per share, in line with forecasts. Loan volume for the lender jumped during the quarter, but current-quarter guidance for the key metric of “gain-on-sale” margins is well below first-quarter levels. Its shares plummeted 13.6% in premarket trading.
Moderna (MRNA) – Moderna shares fell 5.4% in premarket trading after the drugmaker reported better-than-expected earnings for the first quarter. Revenue fell short of forecasts. The company raised its sales forecast for its Covid-19 vaccine for 2021 by 4.3% to $19.2 billion.
Becton Dickinson (BDX) – The medical products company beat estimates by 15 cents a share, with quarterly earnings of $3.19 per share. Revenue also topped expectations on strong contributions from C-19 testing. Becton Dickinson announced it would spin off its diabetes care business into a separate publicly traded company. Its shares rallied 4% in the premarket.
Regeneron Pharmaceuticals (REGN) – The drugmaker earned $9.89 per share for the first quarter, beating the $9 a share consensus estimate. Revenue also topped analysts’ forecasts, boosted by a strong rebound in sales of Regeneron’s Eylea eye disease drug and the contribution from its Covid-19 antibody cocktail treatment. Regeneron rose 1% in premarket trading.
Norwegian Cruise Line (NCLH) – The cruise line operator reported a slightly smaller-than-expected quarterly loss, while first-quarter revenue was well below analysts’ forecasts. It also said a mid-summer restart for cruises could be in jeopardy, given the time needed to strike an agreement with authorities and to get ships ready to sail. The stock lost 1.8% in premarket trading.
Tapestry (TPR) – The maker of Coach and other luxury products beat estimates by 20 cents a share, with quarterly earnings of 51 cents per share. Revenue also came in above estimates. Tapestry gave an upbeat full-year forecast on a rebound in demand for luxury goods.
ViacomCBS (VIAC) – The media company’s shares added 2.4% in the premarket, after it exceeded estimates by 30 cents a share, reporting quarterly profit of $1.52 per share. Revenue was also above estimates, thanks to higher affiliate fees and improved ad sales.
PayPal (PYPL) – PayPal jumped 4.5% in the premarket after it came in 21 cents a share ahead of estimates, with quarterly earnings of $1.22 per share. Revenue for the online payment service also came in above Wall Street forecasts. The pandemic-induced increase in online payment volume continues to benefit PayPal’s bottom line.
Sunrun (RUN) – The solar equipment company stock surged 8.4% in premarket trading after its first-quarter earnings matched estimates and revenue exceeded forecasts. Sunrun also increased its growth rate projections, based on growing demand in the solar industry.
Fastly (FSLY) – Fastly shares plunged 18.5% in the premarket after the internet content platform provider gave lighter-than-expected guidance and also announced that Chief Financial Officer Andriel Lares would step down.
Anheuser-Busch InBev (BUD) – Anheuser-Bush announced that CEO Carlos Brito would step down in July after 15 years of leading the beer brewer. He’ll be replaced by North American chief Michel Doukeris. Shares rallied 5.1% in the premarket.
Source: Finance - cnbc.com
