Today's Pre-Market Stock Movers: SBUX, DASH, PYPL, SQ and More

Movers and Shakers wrote a column · Nov 4, 2022 07:19

Gapping up

$Block(SQ.US)$ +14% (it reported quarterly revenue and profit that beat Wall Street forecasts. The payment service operator’s subscription-based revenue jumped 71% from a year ago.)

$Cinemark(CNK.US)$ +6.5% (The movie theater operator reported a better-than-expected quarterly revenue, even though its loss was larger than analysts had anticipated.)

$Hershey(HSY.US)$ +1% (Quarterly results beat estimates and the candy and chocolate maker raised its sales and profit outlook. Hershey’s improved outlook signals strong Halloween candy sales.)

China stocks – Shares of China-based companies that trade in the U.S. rallied in off-hours trading. $Alibaba(BABA.US)$ jumped 9.7%, $JD.com(JD.US)$ gained 9.3%, $PDD Holdings(PDD.US)$ added 8.8% and $Bilibili(BILI.US)$ surged 14.4%.

$Starbucks(SBUX.US)$ +4.6% (the coffee chain reported better-than-expected profit and revenue for its latest quarter, with sales hitting a record high. Starbucks said its investments in new equipment and higher wages for workers are paying off.)

$DoorDash(DASH.US)$ +11.9% (the strength of record orders and better-than-expected revenue beat, although its quarterly loss was wider than expected. Customers continue to spend on food delivery even in the face of higher prices.)

$Expedia(EXPE.US)$ +3.5% (Expedia reported a quarterly profit that came in slightly below Wall Street forecasts, but revenue exceeded estimates and topped $1 billion for the first time on strong travel demand.)

$Coinbase(COIN.US)$ +6.5% (it reported a wider-than-expected loss and revenue that fell short of analyst forecasts. The cryptocurrency exchange operator also saw a surge in interest income and made progress in diversifying its revenue streams.)

Gapping down

$DraftKings(DKNG.US)$ -12.5% (The company reported a smaller-than-expected quarterly loss and revenue that topped Wall Street forecasts. The sports betting company also raised its revenue guidance and warned a prolonged economic downturn could impact spending by its customers.)

$Twilio(TWLO.US)$ -25.1% (The maker of customer engagement software saw a weaker-than-expected sales forecast. The outlook overshadowed a smaller-than-expected quarterly loss and revenue that exceeded estimates.)

$PayPal(PYPL.US)$ -6.9% (The company reported a better-than-expected quarterly profit and revenue for the payment service operator. Investors are focusing on PayPal’s lowered annual revenue growth forecast, with the company expressing caution about the impact of an economic downturn.

$Warner Bros Discovery(WBD.US)$ -3.3% (The company reported a wider-than-expected loss for its latest quarter and revenue that fell short of analyst estimates. Separately, Bloomberg reported that the media company plans to cut jobs in its Warner Bros. film unit.)

$Carvana(CVNA.US)$ -7.4% （the used-car retailer reported worse-than-expected quarterly results. Increased car prices and higher interest rates were key factors in denting demand.)

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