Products You May Like
Check out the companies making headlines before the bell:
Live Nation (LYV) – The live event producer’s shares jumped 5.4% in a down market after reporting better-than-expected quarterly revenue and saying it has already sold 45 million tickets for 2022 events even as ticket prices rise substantially.
SeaWorld Entertainment (SEAS) – The theme park operator earned 92 cents per share for its latest quarter, well above the 29 cent consensus estimate. Revenue came in above forecasts, more than doubling a year ago, with park visitors spending more per person than they had prior to the pandemic.
Gannett (GCI) – The USA Today publisher’s shares tumbled 13.6% in the premarket after it posted a wider-than-expected loss for its latest quarter and revenue below estimates. Gannett also said it expects revenue to fall this year, although it still expects to be profitable.
Alibaba (BABA) – The China-based e-commerce giant fell 2.5% in premarket trading after it reported its slowest-ever growth in quarterly revenue since going public in 2014. Sales fell below analyst forecasts as competition intensified. However, its quarterly earnings beat estimates.
Moderna (MRNA) – The drugmaker reported quarterly earnings of $11.29 per share, beating the $9.90 consensus estimate, and revenue also beat forecasts. Moderna also raised its full-year Covid-19 vaccine sales forecast and announced a $3 billion share repurchase program.
Wayfair (W) – The home furnishings retailer slid 9.5% in the premarket after posting a wider-than-expected quarterly loss. Wayfair’s results were pressured by a double-digit decline in international sales.
Norwegian Cruise Line (NCLH) – The cruise line operator’s shares fell 7% in premarket trading after reporting a quarterly loss that was wider than anticipated, and revenue that missed estimates as well. It’s among travel stocks under pressure this morning, stemming in large part from Russia’s invasion of Ukraine.
Papa John’s Pizza (PZZA) – The pizza chain reported better-than-expected profit and revenue for its latest quarter, as profit margins improved even in the face of increased costs. Papa John’s did not provide 2022 guidance due to uncertainties related to Covid-19.
Booking Holdings (BKNG) – Booking Holdings reported adjusted quarterly earnings of $15.83 per share, well above the $13.64 consensus estimate, with the travel services company’s revenue also topping Wall Street forecasts. The company said it has seen meaningful improvement in current quarter bookings, but said there will be periods this year when Covid-19 negatively impacts travel. Shares fell 7.6% in the premarket amid weakness in travel stocks.
Hertz Global (HTZ) – Hertz beat estimates by 15 cents with an adjusted quarterly profit of 91 cents per share, though the car rental company’s revenue fell slightly short of analyst projections. Demand for rental cars remained strong during the quarter, although Hertz is still experiencing post-bankruptcy restructuring expenses. Hertz fell 8.4% in the premarket amid an overall drop in travel stocks.
EBay (EBAY) – EBay came in 6 cents above estimates with quarterly earnings of $1.05 per share, while the e-commerce company’s revenue was in line with forecasts. However, the stock is under pressure after eBay forecast weaker-than-expected current quarter results. EBay lost 8.4% in premarket action.