Prism Stocks making the biggest premarket moves: Peloton, Carvana, Cigna, Qualcomm and more

Take a peek at the big movers and shakers on the premarket trading podium:

Peloton Interactive – Registered a 15% uptick in shares following the announcement of CEO Barry McCarthy’s imminent departure and the search for a new CEO. A restructuring strategy will lead to a 15% reduction in workforce or approximately 400 employees. Despite being a favourite during the pandemic, Peloton’s shares have taken a dip, with a 47% decrease this year.

Qualcomm – The semiconductor giant’s shares hit a 5% increase following its Wednesday report of adjusted earnings per share of $2.44, exceeding the expected $2.32 per share. The firm predicts a bright future for its revenue, citing high-demand for top-tier smartphone chips.

Wayfair – The home furniture retailer saw a 5.5% increase in shares following sales that surpassed estimates, and a reduction in losses after a 13% workforce cut earlier this year. However, Wayfair stumbled in Q1 sales.

Carvana – Shares in the pre-loved automobile seller surged 36% following a Q1 revenue declaration of $3.06 billion, surpassing the $2.67 billion consensus estimate. Morgan Stanley upgraded Carvana’s rating, predicting a potential 50% leap in share value.

Cigna – The insurance provider’s shares elevated by 1% following Q1 adjusted earnings of $6.47 per share, surpassing the anticipated $6.22 per share. Revenues of $57.25 billion also exceeded the estimated $56.52 billion.

Moderna – The pharmaceutical company’s shares increased 2% following a lower-than-expected Q1 loss of $3.07 and a revenue of $167 million, surpassing the $97.5 million consensus estimate.

Cardinal Health – Despite exceeding adjusted earnings expectations, the pharmaceutical distributor’s shares dipped 2% after Q3 revenue fell short of the expected $56.05 billion.

Nio – The Chinese EV manufacturer’s US-listed shares climbed 5% following a report of a delivery of 15,620 vehicles in April, more than doubling the previous year.

DoorDash – The food delivery service’s shares fell 7% following a first-quarter loss report exceeding the estimated loss per share and marginal gains in revenue.

Etsy – Shares in the online marketplace fell 13.5% after failing to meet Q1 adjusted earnings expectations.

Zillow – Shares plummeted 6% following weaker Q2 revenue predictions than anticipated by analysts.

eBay – Shares dipped nearly 4% following a Q2 revenue forecast that falls short of analyst estimates.

Shake Shack – The burger chain’s shares climbed 4% following a Q1 adjusted earnings announcement that beat estimates.

Freshworks – Shares in the software development company nose-dived 27% following a lower-than-expected Q2 and annual revenue forecast.

Qorvo – The semiconductor company’s shares dropped by nearly 10% following a weak Q1 earnings forecast.