Check out the companies that make the headlines before the doorbell rings:
Moderna (MRNA) – Moderna shares fell 2.4% on the premarket, despite reporting better-than-expected profits and revenues, saying their Covid-19 vaccine is 93% effective after 6 months. Moderna earned $ 6.46 per share last quarter, beating the consensus estimate of $ 5.96.
Cigna (CI) – The insurance company beat estimates by 28 cents with adjusted quarterly earnings of $ 5.24 per share, with revenue also beating estimates. The negative impact of higher medical costs was noted and the stock lost 3.7% in pre-trading hours.
Penn National (PENN) – Penn to buy digital media and sports betting company Score Media (SCR) for $ 2 billion Regardless, the gaming company reported quarterly earnings of $ 1.17 per share, beating the consensus estimate of 92 cents, and his Share gained 2.7% in the premarket.
Robinhood (HOOD) – The trading platform company’s stock fell 11.3% in pre-trading hours after it announced it would sell up to 97.9 million shares over time. The shares will come from various selling shareholders and the company will not receive any proceeds from the sale. Robinhood was up more than 50% in trading on Wednesday.
Wayfair (W) – The home furnishings seller’s shares rose 8.7% in the premarket after quarterly earnings of $ 1.89 per share were well above the consensus estimate of $ 1.15. The company also said its revenue for the quarter was $ 3.9 billion, well above pre-pandemic run rates.
Regeneron (REGN) – The pharmaceutical company’s stock rose 3.3% in pre-trading hours after far exceeding sales and earnings estimates. The results were boosted by the demand for his COVID-19 antibody cocktail.
Roku (ROKU) – Roku stock tumbled 8.8% in pre-trading hours after the video streaming device maker reported weaker-than-expected user growth. Roku reported better-than-expected earnings for its final quarter with earnings of 52 cents per share compared to a consensus estimate of 13 cents. Sales also exceeded Wall Street forecasts.
Fastly (FSLY) – Fastly lost 14 cents per share in the second quarter, 2 cents less than analysts forecast. The cloud software company’s revenue fell short of forecast, however, and a widespread network outage in June will continue to hurt results for the remainder of the year. Before the trading day, the shares plummeted by 21.8%.
Uber (UBER) – Uber reported a surprising profit of 58 cents per share, compared to consensus forecasts of 51 cents per share. The ride-hailing company’s revenue also beat estimates, but the stock is under pressure as Uber’s quarterly earnings come largely from its investments. Uber stocks lost 4.5% in premarket promotions.
Electronic Arts (EA) – Electronic Arts beat estimates 12 cents with adjusted quarterly earnings of 79 cents per share, and the video game maker’s revenue also beat analyst projections. EA was also optimistic for the current quarter given the strength of franchises like FIFA 2021. The share rose 3.4% in pre-trading.
Booking Holdings (BKNG) – Booking Holdings lost an adjusted $ 2.55 per share in the second quarter, more than the $ 2.04 loss Wall Street expected. Revenues, however, have exceeded estimates and nearly tripled for parent company of Priceline, Kayak and other travel services as travel demand skyrocketed due to increased vaccinations and a relaxation of restrictions. The share gained 3.1% before the trading session.
Etsy (ETSY) – Etsy was 5 cents above estimates with quarterly earnings of 68 cents per share, and the operator of the online craft marketplace also posted sales above analyst forecasts. However, the stock is under pressure after user growth numbers fell short of expectations and its stock fell 12.5% in pre-trading hours.
Lemonade (LMND) – Lemonade shares lost 8.8% in the premarket after the insurance company reported a drop in sales and quarterly losses that more than doubled year over year. However, Lemonade has issued a better-than-expected full-year sales forecast.