Stock Market

In this article

Rivian electric pickup trucks sit in a parking lot at a Rivian service center on May 09, 2022 in South San Francisco, California.
Justin Sullivan | Getty Images

Check out the companies making headlines in premarket trading.

Rivian Automotive — The electric vehicle maker saw its stock jump more than 6% after the company reported a first-quarter loss that was narrower than expected. Rivian also said it’s still on track to meet a 50,000-vehicle production target for 2023.

Airbnb — Shares dropped 13.3% after the vacation booking platform gave a weak outlook for the second quarter and said the company could have a tough time meeting year-over-year comparables. Airbnb still beat expectations on both lines for quarterly earnings.

Twilio — Shares of the software company slid 16% in premarket trading after Twilio’s revenue forecast came in weaker than expected. The company said it was expecting between $980 million and $990 million in revenue for the second quarter. Analysts surveyed by Refinitiv were expecting $1.05 billion in revenue.

Dutch Bros — Shares tumbled 7.6% after the company reported same-store sales and revenue for the first quarter that came in under expectations. The company did break even for the quarter, while analysts polled by StreetAccount expected a loss of 3 cents per share. JPMorgan downgraded the stock to neutral from overweight as a result of the report.

Celsius Holdings — The drinks company jumped 11.1% following a strong earnings report. Celsius posted 40 cents in earnings per share for the first quarter, more than doubling the 19-cent consensus estimate of analysts polled by StreetAccount. Revenue also came in well ahead of analyst expectations. Bank of America upgraded shares to buy from neutral as a result.

Virgin Galactic — The space tourism company saw its shares fall more than 4.5% after reporting a widened quarterly loss from the same period a year ago. Virgin, which aims to fly its first spaceflight in nearly two years later this month, cited “increases in research and development expenses,” in a press release.

GoodRx — The digital healthcare platform lost 8.3% after giving weaker-than-expectation guidance for current-quarter and full-year revenue. However, GoodRx beat expectations for revenue in the first quarter.

Alcon — The eye care stock popped 5.1% after beating expectations on the top and bottom lines in the first quarter. Alcon reaffirmed its full-year revenue guidance and said core diluted earnings per share for the year should come in a range that encompasses the consensus estimate of analysts polled by StreetAccount.

Rockwell Automation — Shares slid 2.8% following a Wall Street Journal report that said the Biden administration is investigating whether the industrial technology company exposed U.S. military, infrastructure and government assets in a cyberattack through one of its facilities in China. CNBC has reached out to Rockwell Automation for comment.

Halozyme Therapeutics — Shares of the biopharma stock rose 1.9% after the company reaffirmed full-year earnings guidance. That helped investors overlook a miss on revenue in the first quarter. Piper Sandler upgraded the stock to overweight from neutral following the report.

Roblox — Shares added 2% in the premarket ahead of the video game maker’s earning report, expected before the bell. Wall Street analysts are anticipating earning-per-share of 40 cents and revenue of $766 million, according to Refinitiv.

Occidental Petroleum — Shares declined 1.5% after the company’s quarterly earnings missed Wall Street’s expectations. The company also reported a year-over-year decline in earnings as oil prices fell.

Akamai Technologies — Shares of the cloud company rose nearly 5% in premarket trading on better-than-expected earnings and revenue for the first quarter. Akamai also raised its full-year profit guidance.

Affirm — Shares of the buy now, pay later company dipped 5.7% in premarket trading even after Affirm reported better-than-expected quarterly results a day earlier, with an adjusted loss per share of 69 cents. Analysts polled by Refinitiv were expecting a loss of 92 cents per share.

— CNBC’s Jesse Pound, Yun Li, Tanaya Macheel, Brian Evans, Hakyung Kim and Michelle Fox contributed reporting

Articles You May Like

CBO takes aim at qualified PABs
Nick Candy vows to help Reform disrupt British politics ‘like we have never seen’
Congressional leadership changes foretell policy shifts
Record $600bn pours into global bond funds in 2024
The Federal Reserve cuts interest rates by another quarter point. Here’s what that means for you