Stocks Making The Biggest Moves In The Pre-Market: Etsy, Uber, Zynga, Rocket Companies & more
Check out some of the largest moving companies on the pre-market:
Etsy (ETSY) – Etsy stock fell 11.1% in premarket trading after the online craft market warned of a slowdown in user growth. Etsy beat estimates by 12 cents per share with quarterly earnings of $ 1.00 per share. Sales also exceeded forecasts. Etsy declined to provide a full year financial forecast.
Uber (UBER) – Uber lost 6 cents per share in the most recent quarter, compared to expectations of a 54 cents per share loss. Revenues were below projections, however, and Uber said drivers would pay more to get the cars back in service when the economy recovers. Uber fell 3.7% in premarket trading.
Zynga (ZNGA) – Zynga made 8 cents per share in the first quarter, a penny per share that fell short of estimates. Sales for the mobile game maker exceeded estimates and Zynga raised its guidance for the full year in terms of expectations of strong demand for its live gaming services. Its stocks rose 5% before entering the market.
Rocket Companies (RKT) – Rocket Companies reported quarterly earnings of 89 cents per share according to forecasts. Lending volume to the lender increased during the quarter, but projections for the current quarter for key profit-on-sale margins are well below the first quarter’s level. Its shares fell 13.6% in premarket trading.
Moderna (MRNA) – Moderna shares fell 5.4% in premarket trading after the drug maker reported better-than-expected earnings in the first quarter. Sales fell short of forecasts. The company increased its sales forecast for its Covid-19 vaccine for 2021 by 4.3% to $ 19.2 billion.
Becton Dickinson (BDX) – The medical products company beat estimates by 15 cents per share and posted quarterly earnings of $ 3.19 per share. Sales also exceeded expectations for strong contributions from C-19 tests. Becton Dickinson announced that it will be outsourcing its diabetes care business to a separate public company. Its shares gained 4% in the pre-market.
Regeneron Pharmaceuticals (REGN) – The drug maker earned $ 9.89 per share in the first quarter, beating the consensus estimate of $ 9 per share. Sales also exceeded analysts’ projections, aided by a sharp increase in sales of Regeneron’s drug for Eylea eye disease and the contribution of its Covid-19 antibody cocktail treatment. Regeneron rose 1% in premarket trading.
Norwegian Cruise Line (NCLH) – The cruise company reported a quarterly loss that was marginally below expectations, while first-quarter revenue was well below analysts’ forecasts. A mid-summer restart for cruises could be jeopardized given the time it would take to reach an agreement with authorities and get the ships ready to sail. The share lost 1.8% in premarket trading.
Tapestry (TPR) – The maker of touring buses and other luxury products beat estimates by 20 cents per share and posted quarterly earnings of 51 cents per share. Sales were also above estimates. Tapisserie gave an optimistic full-year forecast for a recovery in demand for luxury goods.
ViacomCBS (VIAC) – The media company’s shares advanced 2.4% after beating estimates by 30 cents per share, reporting quarterly earnings of $ 1.52 per share. Revenue was also above estimates thanks to higher affiliate fees and improved ad sales.
PayPal (PYPL) – PayPal was up 4.5% pre-market after trading 21 cents per share above estimates, with earnings of $ 1.22 per share for the quarter. Earnings for the online payment service were also above Wall Street’s forecasts. The rise in online payment volumes caused by pandemics continues to benefit PayPal’s bottom line.
Sunrun (RUN) – The solar systems company’s stock rose 8.4% in premarket trading after its first quarter earnings hit estimates and sales exceeded forecasts. Sunrun also raised its growth rate projections based on growing demand in the solar industry.
Fastly (FSLY) – Fastly shares fell 18.5% in the pre-market after the internet content platform provider gave a lighter-than-expected forecast and announced that CFO Andriel Lares would step down.
Anheuser-Busch InBev (BUD) – Anheuser-Bush announced that CEO Carlos Brito will step down in July after 15 years as head of brewery. He is replaced by the North American boss Michel Doukeris. The shares gained 5.1% in the pre-market.