Check out the companies making the biggest moves in premarket trading:
Peloton — The fitness equipment maker jumped more than 5% in the premarket after reporting fiscal second quarter revenue of $792.7 million, above a Refinitiv forecast of $710 million. Peloton said its net loss narrowed year over year and subscription revenue was higher than sales of the product.
Snap — The social media giant saw its shares slide more than 15% following its quarterly financial update. Snap missed analyst estimates for revenue and declined for a third straight quarter to provide guidance. Its “internal forecast” assumes a sales decline of between 2% and 10% from a year earlier.
Advanced Micro Devices — Shares of chipmaker AMD rose more than 3% premarket after the company reported fourth-quarter earnings and revenue that beat Wall Street expectations.
Electronic Arts — Shares of the video game publisher fell nearly 10% after the Electronic Arts’ fiscal third quarter results missed expectations for adjusted earnings and net bookings, according to StreetAccount. Fourth-quarter guidance also disappointed, as the company announced a delay of its upcoming Star Wars game to later this calendar year.
Foot Locker — The retailer added 3% following an upgrade to outperform from neutral by Credit Suisse. The firm said Foot Locker should see more profit going forward due to its strategic plan.
Match Group — The online dating company slid 8.3% after reporting quarterly revenue that missed Wall Street expectations. Match also said first-quarter revenue will likely be lower than expected.
Western Digital — Western Digital dropped nearly 3% after reporting an earnings miss after the bell Tuesday, although it beat on revenue. The company also said it anticipates revenue in the upcoming quarter to be lower than previously guided.
Brinker International — The casual dining chain reported adjusted earnings of 76 per share, compared to StreetAccount’s estimate of 52 cents for the fiscal second quarter. Revenue was $10.2 billion versus the $991.7 million expected by analysts. Brinker International was up 1.3% in the premarket.
— CNBC’s Tanaya Macheel, Alex Harring, Jesse Pound and Carmen Reinicke contributed reporting.
Source: Finance - cnbc.com
