Under Armor, Cigna, DraftKings and more

Check out the companies that make headlines before the call:

Under Armor (UAA) – The sportswear maker reported an adjusted loss of 1 cent per share in the company’s transition quarter, compared to an earnings estimate of 6 cents per share. The company is changing its fiscal year: the first quarter of fiscal year 2023 starts on April 1st. Under Armor also released a weaker-than-expected forecast for its full-year earnings as it offsets the impact of higher costs and supply chain disruptions. Shares of Under Armor fell 12.5% ​​in premarket trading.

Cigna (CI) – The insurance company reported adjusted quarterly earnings of $6.01 per share compared to the consensus estimate of $5.18, with revenue also above analysts’ forecasts. Cigna’s results were driven by strong growth in its pharmacy benefits management business, among other factors.

DraftKings (DKNG) – DraftKings rose 9.8% in premarket trading after quarterly results. The bookmaker reported a loss for the quarter, but revenue was better than expected thanks to an increase in the number of unique paying customers per month and average revenue per customer. DraftKings also raised its full-year revenue guidance.

Shake Shack (SHAK) – Shares of Shake Shack fell 2.8% in premarket trading despite lower-than-expected quarterly losses and earnings that beat Wall Street’s forecasts. The restaurant chain posted a brighter-than-expected forecast due to higher prices for beef, chicken and other commodities.

Block (SQ) — The block is up 5% in premarket despite earnings and revenue falling short of analyst estimates. The fintech firm’s operating profit beat forecasts, and it said it didn’t see a deterioration in consumer spending.

Virgin Galactic (SPCE) – Shares of Virgin Galactic fell 4.9% in premarket trading after the company said it would delay the launch of its commercial spaceflight service until the first quarter of 2023, blaming staffing and supply chain issues. Analysts are also concerned about Virgin Galactic’s cash flow.

DoorDash (DASH) – DoorDash posted a larger-than-expected quarterly loss, but the food delivery service’s revenue topped analyst estimates, with total orders surpassing the 400 million mark for the first time. Shares rose 6% in premarket trading.

Peloton (PTON) — Peloton is exploring the sale of a sizable minority stake in the fitness equipment maker, according to people familiar with the matter who spoke to The Wall Street Journal. The share under discussion is between 15% and 20%, although there are no guarantees that the deal will be completed. Peloton fell 1.8% in premarket trading.

Johnson & Johnson (JNJ) – Shares of Johnson & Johnson fell 1% in premarket trading after the FDA restricted the use of the company’s Covid-19 vaccine after testing blood clots in some recipients. The vaccine will now only be allowed for those patients who are medically ineligible for other vaccines or who have no alternatives available.

Zillow Group (ZG) – Shares of the real estate website operator fell 13.9% in premarket trading after a weaker-than-expected outlook citing an uncertain real estate situation. Zillow reported higher-than-expected earnings and revenue for the latest quarter.

Live Nation (LYV), the parent company of Ticketmaster and other entertainment companies, reported a smaller-than-expected loss for the last quarter on strong customer and advertiser demand. Live Nation added 2.2% in premarket.

CORRECTION: This article has been updated to correct that Under Armor released its transition quarter financial results on Friday.