Uber, Chipotle, Microsoft and more
Check out the companies that make headlines in premarket trading.
Uber said it was “currently responding to a cybersecurity incident” following reports that a hacker had breached its systems.
Rafael Enrique | sopa images | Light rocket | Getty Images
Uber — The taxi app’s stock rose more than 7% after it reported fourth-quarter earnings that beat analysts’ estimates. Uber earned 29 cents per share, beating analysts’ estimate of 18 cents, according to Refinitiv data. Uber’s quarterly revenue is up 49% year-over-year. CEO Dara Khosrowshahi said Uber ended 2022 with “the strongest quarter ever”, ending its “strongest year”.
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Chipotle Mexican Grill — Shares of the fast food restaurant chain fell more than 5% amid disappointing quarterly results. Chipotle said customers cut their spending on restaurants in the fourth quarter. “We just didn’t see the hype, the momentum that we usually see going into the holidays,” Chief Financial Officer Jack Hartung said on a conference call.
Microsoft The Xbox maker is up 1.6% after it released a new artificial intelligence homepage for its Bing search engine.
Lumen Technology — The cloud network data company lost 17% in premarket after the report was released. fourth quarter loss of $3.1 billion (including a $3.3 billion goodwill write-off) and adjusted earnings per share of 43 cents, up from 51 cents a year ago. This year’s adjusted earnings forecast is not in line with StreetAccount’s estimates.
Fortinet — Shares of the cybersecurity company rose 11% after it outperformed analyst estimates in the latest quarter by five cents a share, according to StreetAccount.
under armor — The sportswear retailer jumped almost 8% after earnings for its third fiscal quarter beat expectations. Under Armor earned an adjusted EPS of 16 cents compared to a StreetAccount estimate of 9 cents. Revenue also exceeded forecasts.
tripadvisor — Shares of the online travel company jumped 5% after Bank of America upgraded them twice to buy. The bank expects nearly 60% growth for TripAdvisor as consumers book more travel.
enphase energy The solar company rose 8.5% after it reported fourth-quarter adjusted earnings of $1.51 a share vs. an estimate of $1.27 on revenue of $725 million vs. an estimate of $707 million, according to street account.
Illumina Shares of the biotech company fell almost 3% on fourth quarter earnings shows quarterly revenue of $1.08 billion, down 10% from last year.
— Fred Imbert of CNBC, Tana Machil, contributed reporting.
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