Stocks making the biggest moves premarket: PepsiCo, Cloudflare, Pinterest, Expedia and more
Machado Noa | LightRocket | Getty Images
Notable corporate news making waves pre-market include:
PepsiCo’s shares experienced a minor fall of 1.4% due to mixed fourth-quarter results. Its revenue of $27.85 billion didn’t meet the LSEG consensus estimate of $28.4 billion, whilst its adjusted earnings per share stood at $1.78, surpassing the expected $1.72.
Cloudflare’s stock soared by 27% on account of its fourth-quarter performance that outperformed analysts’ predictions. The cloud services company reported adjusted earnings of 15 cents per share on $362 million in revenue, beating LSEG forecast for earnings of 12 cents per share and $353 million in revenue.
Pinterest’s stock faced a decline of over 8%, resulting from a less optimistic forecast. Despite exceeding earnings estimates for its fourth quarter, its revenue fell short.
Expedia Group’s shares dropped 15%, even though the travel firm reported a higher-than-expected adjusted fourth-quarter result. But the miss in air travel category triggered the downward trend. The firm also announced CEO transition with Ariane Gorin set to replace Peter Kern on May 13.
CleanSpark, a bitcoin miner, saw their shares rally by 19% post announcing first-quarter results that surpassed projections.
United Airlines enjoyed a 2.7% gain in shares after Evercore ISI upgraded the company’s rating from in-line to outperform.
Newell Brands’ shares slipped 1% despite beating fourth-quarter expectations. The fall was due to weaker-than-expected guidance for the first quarter and the full year.
Illumina’s shares lost 4% despite fourth-quarter results surpassing expectations, according to FactSet.
Bill Holdings’ shares declined 3%, even with higher-than-expected revenue in the fiscal second quarter.
Affirm’s shares went down by 7%, despite reporting better-than-expected second-quarter GAAP earnings per share and revenue, according to FactSet.
Take-Two Interactive Software’s shares declined more than 8% due to a disappointing current-quarter forecast and slightly missing FactSet consensus estimate for earnings per share.
