Walmart, AutoNation, Cisco and others
Check out the companies that make headlines before the call:
Walmart (WMT) – Walmart shares rose 2.9% in premarket trading after the retail giant reported better-than-expected quarterly results. Walmart earned an adjusted $1.53 per share, up 3 cents from estimates, posted an upbeat outlook and announced a dividend increase.
AutoNation (AN) – The auto retailer earned an adjusted $5.76 per share for the fourth quarter, beating the consensus estimate of $4.96. Revenue also beat estimates, driven by a 55 percent increase in used car sales. AutoNation stock jumped 3% in premarket trading.
DoorDash (DASH) – DoorDash soared 24.1% in premarket trading after the food delivery service released an upbeat outlook for the current quarter. Doordash reported a loss in the fourth quarter, but revenue is up 69% in 2021 even as restaurants reopen to serve customers.
Cisco (CSCO) – Cisco beat estimates by 3 cents, with adjusted quarterly earnings of 84 cents per share. The networking hardware and software maker also reported higher-than-expected earnings and issued an optimistic outlook for the full year as it sees particularly strong demand from cloud computing companies. Cisco shares rose 3.5% in premarket trading.
Nvidia (NVDA) – Nvidia reported adjusted quarterly earnings of $1.32 per share, up 10 cents from estimates. The graphics chip maker also posted higher-than-expected quarterly revenue and an upbeat outlook. However, the stock came under pressure due to concerns about the unchanged rate of return and its exposure to the crypto market. Nvidia lost 2.5% in premarket.
Palantir Technologies (PLTR) – Shares of the software platform provider fell 8% in premarket trading after quarterly earnings fell short of expectations. Palantir’s 2-cent-per-share adjusted earnings were half what analysts had forecast, although revenue beat forecasts.
Tripadvisor (TRIP) – Tripadvisor fell in premarket after reporting unexpected quarterly losses and earnings that fell short of analysts’ forecasts. The operator of the travel review site said it expects a significant improvement in the travel market this year after what it called “unexpected virus resurgences” in 2021. Shares fell 7.9% in premarket trading.
Fastly (FSLY) – Shares of Fastly fell 31.9% in premarket trading after the internet content delivery company gave lower-than-expected guidance for 2022. Fastly reported narrower-than-expected fourth-quarter losses and earnings that beat consensus estimates.
Hasbro (HAS) – Shares of Hasbro rose 4% in premarket trading after activist investor Alta Fox Capital Management appointed five directors to the toy maker’s board. Alta Fox is pushing for Hasbro to spin off its fast-growing gaming division.
Cheesecake Factory (CAKE) – Shares of the restaurant operator jumped 4% in premarket trading, despite lower-than-expected earnings. The revenue excess has been offset by higher production costs, but the Cheesecake Factory plans to raise prices on new menus now in print and has said it may raise prices even later this year.