Check out some of the largest moving companies on the pre-market:
Beyond Meat (BYND) – Beyond Meat lost 42 cents per share in the first quarter, more than double what analysts had expected to lose 19 cents per share. The sales revenues also missed the forecasts. The company said the pandemic had dampened demand in both retail and restaurants. In the pre-market the shares fell by 7.1%.
Peloton (PTON) – Peloton announced that the recently announced recall of its treadmills would generate $ 165 million in success in the current quarter and also lowered its revenue and profit guidance for the current fiscal year ending June 30th was a lower-than-expected loss for the most recent quarter and exceeded analysts’ revenue projections. The Peloton share rose 5.9% in the pre-market.
Roku (ROKU) – Roku gained 8.2% in premarket trading, able to end an eight-session losing streak. Roku earned 54 cents a share in the first quarter, compared to consensus forecasts of 13 cents a share. Revenue also exceeded expectations, and the streaming video device maker was optimistic as consumers in their home country continue to stream more content.
Shake Shack (SHAK) – Shake Shack was down 7.8% in premarket trading after reporting quarterly earnings of 4 cents per share, compared to consensus forecasts of 9 cents per share. The restaurant chain’s revenue fell short of forecast, however, giving a tepid sales outlook for the current quarter as sales in urban locations and sports stadiums continue to weigh on overall results.
Cigna (CI) – The insurer reported earnings of $ 4.73 per share for the first quarter, beating the consensus estimate of $ 4.38 per share. Revenue was also above projections, and Cigna raised its full-year outlook, despite increasing the percentage of premiums it pays for medical claims.
Cinemark (CNK) – The cinema chain operator’s share rose 1% in the pre-market as it made optimistic comments on the theater’s reopenings and prospects for the movie’s summer season. Cinemark posted a better-than-expected loss in the final quarter, but revenue was above analysts’ estimates.
Tilray (TLRY) – The cannabis producer’s shares rose 8.8% in premarket trading after Jefferies upgraded to “Buy” twice from “Underperform”. Jefferies calls the recently completed combination of Tilray and rival Aphria “the perfect addition”, citing Tilray’s size and Aphria’s positioning in the German market.
DraftKings (DKNG) – The sports betting company’s stocks have been volatile in premarket trading after posting less-than-expected loss and better-than-expected revenue in the first quarter. DraftKings also raised its full-year revenue guidance, saying it is benefiting from recent acquisitions and success in customer acquisition and retention.
Elanco Animal Health (ELAN) – The maker of pharmaceutical products for pets and other animals beat estimates by 14 cents per share and posted quarterly earnings of 37 cents per share. Revenue also beat estimates, and Elanco’s adjusted full-year EPS outlook of $ 1.00 to $ 1.06 is above the consensus estimate of 95 cents. Elanco said the acquisition of Bayer Animal Health in August 2019 continues to deliver significant benefits.
Square (SQ) – Square more than doubled its share consensus estimate of 16 cents, with quarterly earnings of 41 cents per share. The turnover of the mobile payment company was also well above the estimates. This was fueled by the increasing demand for Bitcoin, which led to an increase in transactions with its peer-to-peer payment service cash app. The square rose 1.9% before entering the market.
Dropbox (DBX) – Dropbox was 4 cents per share above estimates, with quarterly earnings of 35 cents per share. The revenue as well as the average revenue per user exceeded the forecasts for the online storage service. The key metric for annual recurring revenue was also above Wall Street’s projections. Dropbox gained 2.5% in the pre-market.
AMC Entertainment (AMC) – AMC lost $ 1.42 per share in the first quarter, more than analysts’ forecast of $ 1.30 per share. The revenues of the operator of the cinema chain also missed the estimates. However, AMC expects business to improve in the summer months, thanks to an increase in Covid-19 vaccinations and a number of large budget films to be released. Its shares rose 2.7% in the pre-market business.
Bill.com (BILL) – Bill.com advanced 14.3% in premarket trading after posting a smaller loss in the most recent quarter and better-than-expected revenue in the most recent quarter. The back office business software provider also announced the acquisition of expense management software provider Divvy for $ 2.5 billion.