Today's Pre-Market Stock Movers: ABNB, RIVN, AFRM, SPCE and More

Movers and Shakers wrote a column · May 10, 2023 08:06

Gapping up

$Rivian Automotive(RIVN.US)$ +6% (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.)

$Celsius Holdings(CELH.US)$ +11.1% (The company posted 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.)

$Alcon(ALC.US)$ +5.1% (The company beat 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.)

$Halozyme Therapeutics(HALO.US)$ +1.9% (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.)

$Roblox(RBLX.US)$ +2% (Roblox is expected to report $768M in 1Q net bookings and $69M in adjusted earnings before interest, taxes, depreciation and amortization before the market opens Wednesday, according to FactSet.)

$Akamai(AKAM.US)$ -5% (The company posted better-than-expected earnings and revenue for the first quarter. Akamai also raised its full-year profit guidance.)

Gapping down

$Airbnb(ABNB.US)$ -13.3% (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.)

$Virgin Galactic(SPCE.US)$ -4.5% (The space tourism company reported 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.)

$Occidental Petroleum(OXY.US)$ -1.5% (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.)

$Affirm Holdings(AFRM.US)$ -5.7% (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.)

$Twilio(TWLO.US)$ -16% (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.)

$Dutch Bros(BROS.US)$ -7.6% (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.)

Source: CNBC

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