Companies making big moves in premarket trading include Peloton Interactive, Qualcomm, Wayfair, Carvana, Cigna, Moderna, Cardinal Health, Nio, DoorDash, Etsy, Zillow, eBay, Shake Shack, Freshworks, and Qorvo.
Peloton’s shares rose 15% as CEO Barry McCarthy announced his departure and a restructuring plan involving a 15% workforce reduction. Qualcomm’s shares also went up over 5% after exceeding earnings expectations. Wayfair saw a 5.5% increase in shares after topping sales estimates. Carvana spiked 36% after reporting higher revenue than anticipated and receiving an upgrade from Morgan Stanley. Cigna and Moderna both outperformed earnings expectations, boosting their respective stock prices.
However, Cardinal Health, Nio, DoorDash, Etsy, Zillow, eBay, Freshworks, and Qorvo experienced declines in their stock prices due to various factors such as missed revenue estimates or weak guidance for future quarters. Shake Shack was one of the few companies that saw an increase in shares after beating earnings forecasts.
Premarket trading saw several companies making significant moves. Peloton Interactive’s shares rose 15% after announcing its CEO would step down and a restructuring plan would cut staff. Qualcomm’s shares climbed over 5% after beating earnings estimates, citing demand for advanced chips in smartphones. Wayfair’s shares added 5.5% after surpassing analyst sales estimates and reducing losses. Carvana spiked 36% after reporting higher-than-expected revenue and receiving an upgrade from Morgan Stanley. Cigna, Moderna, and Nio also saw positive stock movements after reporting strong earnings or delivery numbers. However, companies like DoorDash, Etsy, Zillow, and eBay saw declines in their share prices after missing expectations or issuing weak guidance. Shake Shack saw a 4% increase after beating earnings estimates, while Freshworks and Qorvo saw significant declines after projecting lower-than-expected revenues.
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