Lyft, Expedia, Yelp and more
Lyft Driver Hub in Los Angeles, California.
Lucy Nicholson | Reuters
Check out the companies making the biggest moves in premarket:
backlash — The ridesharing company plunged 31.5% after posting a weak outlook in its fiscal first quarter earnings report. Lyft said it expects about $975 million in revenue, down from analysts’ expectations of $1.09 billion, according to StreetAccount. Several analysts subsequently downgraded the stock.
related investment news
expedition — Shares of the travel company 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 estimated earnings of $1.67 per share on revenue of $2.70 billion, according to Refinitiv.
Squeal The consumer review platform is up more than 5% in premarket after it reported fourth-quarter revenue of $309 million, beating analysts’ expectations of $307 million. Earnings per share were in line with estimates.
cloud flash — The cloud service provider posted quarterly earnings that beat expectations after Thursday’s bell. Cloudflare is up nearly 8% in premarket trading.
Freyr battery — Shares of the battery company rose 4% after Bank of America initiated buy coverage on the stock. The Wall Street firm said Freyr is months away from its first major catalyst, industrial cells.
Confirm — Share confirmation fell 3.7% to the bell after Morgan Stanley downgraded the stock’s buy-now-pay-later rating to equal weight from “outperform” following the latest financial results. According to the Wall Street firm, Affirm’s offering seems too limited.
Deutsche Bank — German bank shares fell more than 3% in pre-market trading after Deutsche Bank was downgraded from neutral by Bank of America. The investment firm said in a note to clients that Deutsche Bank’s growth was still “volume driven” and that other European peers were more attractive.
dexcom — The medical device company added 3.5% in premarket trading after reporting adjusted earnings per share of 34 cents versus 27 cents expected by analysts according to StreetAccount. Revenue also exceeded expectations. Earlier this week, DexCom unveiled a Super Bowl ad featuring Nick Jonas.
Newell Brands Shares in parent company Rubbermaid and Yankee Candle fell 7.5% after reporting earnings that fell short of analysts’ expectations. CEO Ravi Saligram said the company has been affected by the tough operating environment, including a slowdown in consumer demand.
– CNBC’s Samantha Subin, Hakyoung Kim, Jesse Pound and Michael Bloom provided reporting.
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