Stocks making the biggest moves premarket: Pinterest, Monster Beverage, Bath & Body Works, Trump Media & more
Take a look at the businesses that are making waves in the pre-market.
Trump Media & Technology Group
— President-elect Donald Trump’s media company’s shares took another 4.6% hit in premarket trading after dropping by 23% in the previous session. Trading under the ticker Trump’s initials, DJT, the stock has lost the gains from Wednesday’s rally triggered by Trump’s electoral win. It has dipped over 9% week to date as of Thursday’s close.
— The AI-driven lending marketplace saw a 20% increase after its third-quarter results outperformed Wall Street’s predictions. Excluding items, Upstart reported a loss of 6 cents per share for the quarter, a significant decrease from analysts’ predicted loss of 15 cents, according to LSEG. Revenues came in at $162 million, surpassing the expected $150 million. Upstart also projected an optimistic revenue outlook for the current quarter.
— The shares of the online image-sharing app fell roughly 12.6% after it issued a below-par fourth-quarter guidance. The company projects its revenue to be between $1.125 billion and $1.145 billion, falling short of consensus.
— Shares of the financial tech platform fell 2.7% following its third-quarter revenue miss. While analysts surveyed by LSEG expected $6.24 billion, Block reported sales of $5.98 billion. Nevertheless, its adjusted earnings per share slightly exceeded Wall Street’s expectations.
— The home-sharing giant’s shares dropped 7.3% following mixed quarterly results. Although Airbnb surpassed revenue estimates, its earnings fell short by 1 cent per share.
— The company’s stock slipped 5.3% following weak third-quarter earnings and outlook. DraftKings projected its current-quarter adjusted earnings before interest, taxes, depreciation, and amortization to be between $240 million and $280 million, lower than the estimated range of $340 million to $420 million, as per LSEG.
— Shares of the salad chain fell 16.5% after it missed earnings expectations for the third quarter. Despite predicting a narrower loss of 13 cents per share and $175 million in revenue, Sweetgreen reported losses of 18 cents per share on revenue of $173 million.
— The restaurant management platform’s stock saw a significant rise of 14.2% on strong third-quarter results and outlook. Toast projects its adjusted EBITDA for the fourth quarter to be between $90 million and $100 million, outpacing the StreetAccount’s expected $74.8 million.
— Despite positive earnings and a 4-for-1 stock split announcement, the computer networking firm’s stock declined by 4.9%. The company reported an adjusted earning of $2.40 per share in the third quarter on a revenue of $1.81 billion, surpassing LSEG’s prediction of $2.08 and $1.74 billion, respectively. The revenue guidance also exceeded expectations.
— The electric carmaker’s shares grew about 5% after third-quarter results surpassed Wall Street’s expectations. The company reported an adjusted loss per share of 28 cents on $200 million revenue when analysts were expecting a loss of 30 cents per share on $198 million revenue, as per LSEG.
— The parent company of Versace and Michael Kors saw an 8% slide in shares following weak results for the second fiscal quarter. The company reported an adjusted earning of 65 cents per share on $1.08 billion revenue against LSEG’s estimation of 75 cents share and $1.18 billion.
— The stock of the energy drink manufacturer fell 5.4% after reporting a lower-than-expected earnings for the third quarter. Monster reported an earning of 40 cents per share, excluding items, and $188 billion in revenue, falling short of FactSet’s prediction of 43 cents earnings per share and $1.91 billion in revenue.
— Despite surpassing Wall Street expectations on both lines for the fiscal first quarter, the buy-now-pay-later stock fell by 2.4%. Affirm reported a loss of an adjusted 31 cents per share, narrower than analysts’ forecast of 35 cents. The company’s revenue stood at $698 million, higher than the expected $664 million.
— U.S.-listed shares of the German biotech firm rose 3.9% following a Goldman Sachs upgrade from neutral to buy. The stock’s potential tied to an oncology asset could help it rally by more than 25%, Goldman noted.
— Shares of the fragrance retailer fell 2.7% following a downgrade by Barclays from equal weight to underweight. The company could face sales and margin pressure in 2025, Barclays pointed out.
