Business

Twitter, SeaWorld, Shopify and more

Check out the companies that make headlines before the call:

Twitter (TWTR) — Twitter rose 1.5% in premarket trading after Elon Musk detailed a $7.2 billion financial commitment in his deal to buy the company. SEC filings show Oracle co-founder Larry Ellison and investor Ron Baron are among those disbursing the funds.

SeaWorld (SEAS) – Shares of the theme park operator rose 1% in premarket trading after it reported a smaller-than-expected quarterly loss and revenue topped estimates as attendance topped pre-pandemic levels.

Spirit Airlines (SAVE) – Spirit posted an adjusted quarterly loss of $1.60 per share, more than Wall Street expected of 58 cents, with revenue also below forecasts. Shares of Spirit shed 1.4% in premarket trading.

Kontoor Brands (KTB), the company behind clothing brands Wrangler and Lee, outperformed estimates by 20 cents, with adjusted quarterly earnings of $1.43 per share, and revenue also beat estimates. Kontoor raised its forecast for the full year, although it lowered its forecast for the current quarter due to the Covid lockdown in China.

Shopify (SHOP) – Shopify fell 14.1% in premarket trading after reporting adjusted quarterly earnings of 20 cents per share, well below the consensus estimate of 64 cents. The e-commerce platform also gave a cautious outlook as lockdown-driven growth slows amid a lack of new consumer stimulus money.

Wayfair (W) – Shares of the online home improvement retailer fell 6.4% in premarket trading after the company posted an adjusted quarterly loss of $1.96 a share, up 40 cents more than expected, although revenue was in line. with forecasts. The number of active clients decreased by 23.4% compared to the previous year.

Booking Holdings (BKNG) – Booking Holdings rose 10.1% in premarket trading after reporting higher-than-expected quarterly earnings and revenue driven by a surge in demand for the travel services company. The parent company of Priceline and other services earned an adjusted $3.90 per share, well above the consensus estimate of 90 cents.

Twilio (TWLO) – Twilio shares gained 2.4% in premarket trading as the cloud communications company reported an adjusted quarterly break-even. Analysts had expected a loss of 22 cents per share, and revenue also beat Wall Street’s forecasts.

Etsy (ETSY) – Etsy plunged 12.5% ​​in premarket despite in line with expectations and higher-than-expected revenue for the online marketplace operator. Stocks came under pressure after Etsy’s current-quarter guidance came in weaker-than-expected amid falling consumer disposable income.

EBay (EBAY) – Shares of eBay fell 7.8% in premarket trading on weaker-than-expected revenue guidance, even as the e-commerce company beat earnings and revenue guidance for the latest quarter. Inflation and a return to pre-pandemic shopping habits are among the factors driving eBay and other e-commerce companies’ forecasts.

Sunrun (RUN) – Sunrun shares rose 12.8% in premarket trading after the solar company reported first-quarter earnings that were much better than expected, although its quarterly losses were larger than expected. Sunrun said it has implemented a “significant” price increase to offset higher costs, and demand for solar equipment remains strong.


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