Stocks making the biggest moves premarket: Cava, Spotify Technologies, Rocket Lab and more
Take a look at the companies making waves ahead of today’s trading.
— This quick-service eatery stock surged a substantial 19% following Q3 results that surpassed market forecasts. With earnings of 15 cents per share outdoing the projected 11 cents, and revenues of $244 million also beating the $234 million estimate.
— EchoStar experienced a slight 1% slip after announcing earnings that failed to impress investors. A proposed acquisition of Dish, an EchoStar subsidiary, by DirecTV seems doomed following a group of bondholders declining the suggested debt deal.
— The audio streaming giant saw an 8% rise after a Q4 profit projection outpaced analysts’ predictions. Spotify’s monthly active users for Q3 hit approximately 640 million, a 11% year-over-year growth, surpassing the expected 639 million.
— The share price dropped 6% following a more cautious Q1 guidance than expected. Despite this setback, Q3 earnings surpassed analyst predictions, with revenue in line with these forecasts.
— Parent company of Instacart, Maplebear, saw shares dip 6% after adjusted EBITDA guidance for Q4 fell short of expectations. However, Q3 earnings and revenue both exceeded market predictions.
— Shares rose by 7% upon the announcement of a joint venture with the Volkswagen Group, in a deal worth $5.8 billion. The first Volkswagen models integrating Rivian’s software and electrical structure could be available as soon as 2027.
— Satellite company shares rocketed up nearly 25% following robust Q3 financials. A Q3 revenue of $104.8 million surpassed the anticipated $102 million, and the Q4 revenue forecast also looks promising.
— The digital gaming company’s shares bumped up 5% after Q3 adjusted earnings per share of 43 cents outflanked a 10 cent estimate. Also, revenue of $3.25 billion exceeded an estimated $3.07 billion.
— The mortgage lender’s shares slumped 12% after Q4 revenue guidance fell short of the forecasted $1.36 billion. However, Q3 revenue outdid analyst expectations.
— Shares of the voice recognition company receded 6%, despite Q4 revenue surpassing expectations and a narrower loss than anticipated.
— The pharmaceutical firm saw a 2% rise after reporting no correlation with changes in bone mineral density from its experimental weight-loss injection, MariTide. Earlier in the week, shares had dropped 7% following analysts’ concerns about data from a trial.
— The budget airline’s shares took an enormous hit, plunging nearly 67% on news that it could be heading into bankruptcy within weeks following collapsed merger discussions with Frontier Group Holdings.
— Despite Redburn Atlantic downgrading the stock to sell due to further potential losses, the well-known coffeehouse chain only saw a slight 1% dip. This underperforming stock has only seen a minor rise of 2.9% this year, contrasting sharply with the S&P 500′s rally of over 25%.
