Check out the companies making headlines in premarket trading. Twilio — Shares dropped nearly 11% after the consumer engagement company issued lower-than-expected revenue guidance for the current quarter. Twilio also reporter total active consumers for the fourth-quarter that were below Wall Street estimates. Cisco — Shares dropped 4.4% after the tech company posted a yearly decline in revenue during the fiscal second quarter. Cisco also issued lighter-than-expected guidance for the fiscal third quarter and announced a downsizing plan that would lead to a 5% reduction in jobs . Coinbase — Shares jumped 8% after JPMorgan upgraded the cryptocurrency exchange platform to neutral from underweight, citing rising cryptocurrency prices. On Wednesday, Bitcoin regained a $1 trillion market cap as it reached a more than two-year high. On Thursday, Bitcoin was last higher by more than 1%. Tripadvisor — Shares climbed nearly 5% after the online booking company beat Wall Street estimates on the top and bottom line in the fourth-quarter. Tripadvisor reported an adjusted 38 cents per share on $390 million in revenue, while analysts polled by LSEG forecast 22 cents and $374 million, respectively. JFrog — Stock in the software development company climbed more than 19% after fourth-quarter results surpassed Wall Street estimates. JFrog reported an adjusted 19 cents per share on $97 million in revenue, against estimates from analysts polled by FactSet that called for 12 cents and revenue of $93 million. Shake Shack — Shares of the restaurant stock climbed nearly 17% after the firm beat Wall Street estimates on the top and bottom line. Shake Shack reported an adjusted $0.02 per share on revenue of $286.24 million in the fourth-quarter, while analysts polled by LSEG forecast $0.01 and $280.3 million, respectively. Deere — Shares dropped 4% in premarket trading after the manufacturer of agricultural machinery lowered its full-year net income guidance. In its full year ending October, Deere expects net income of $7.50 billion to $7.75 billion, lower than prior guidance it issued between $7.75 billion and $8.25 billion. In a statement, CEO John C. May said, “Moving forward, we expect fleet replenishment to moderate as agricultural fundamentals normalize from record levels in 2022 and 2023.” Otherwise, Deere beat expectations on the top and bottom lines in its first-quarter results. Super Micro Computer — Shares gained more than 4% after Bank of America initiated coverage of the information technology stock with a buy rating. The firm said Super Micro will be a key beneficiary of artificial intelligence opportunities moving forward, and said the firm could turn into a future partner for peers including Nvidia, AMD and Intel. Marathon Digital Holdings — Stock in the cryptocurrency mining company jumped more than 4% after bitcoin regained a $1 trillion market capitalization and climbed to a two-year high. Arm Holdings – Shares of Arm Holdings were higher in premarket trading after A.I. darling Nvidia listed an investment in the chipmaker, according to a regulatory filing . — CNBC’s Hakyung Kim, Sarah Min and Pia Singh contributed reporting
Information About Los Angeles Financial Times
Saturday,
May
18,
2024
11:02AM
-
Stocks making the biggest moves midday: GME, RDDT, AMD, HOOD
Stocks making the biggest moves midday: GME, RDDT, AMD, HOOD
-
The Big Number: $1,280
The Big Number: $1,280
-
Tesla sued over air pollution from factory in Fremont, California
Tesla sued over air pollution from factory in Fremont, California
-
Mercedes-Benz workers in Alabama vote against union
Mercedes-Benz workers in Alabama vote against union
Your number one source of all things financial.
Popular
- Stocks making the biggest moves midday: GME, RDDT, AMD, HOOD & Comments Off on Stocks making the biggest moves midday: GME, RDDT, AMD, HOOD
- New law expands California’s homestead equity protection to $600,000 – Daily News & Comments Off on New law expands California’s homestead equity protection to $600,000 – Daily News
- Heroes on the Frontlines in Riverside Get COVID-19 Vaccine – NBC Los Angeles & Comments Off on Heroes on the Frontlines in Riverside Get COVID-19 Vaccine – NBC Los Angeles
- Why Markets Boomed in a Year of Human Misery & Comments Off on Why Markets Boomed in a Year of Human Misery
- LACo COVID Deaths Set New Records, Hospital Crunch Worsens – NBC Los Angeles & Comments Off on LACo COVID Deaths Set New Records, Hospital Crunch Worsens – NBC Los Angeles
- ‘Brink of Catastrophe.’ Once a Model, California Now Struggles to Tame COVID-19 – NBC Los Angeles & Comments Off on ‘Brink of Catastrophe.’ Once a Model, California Now Struggles to Tame COVID-19 – NBC Los Angeles
Los Angeles Financial times
Copyright © 2024 Los Angeles Financial times