Tuesday, March 21, 2023

Stocks making the biggest moves premarket: Chegg, Baidu, Bed Bath & Beyond, Hertz and more

A display screen shows the Hertz brand through the Hertz Corporation IPO on the Nasdaq Market website in Times Square in New York, November 9, 2021.

Brendan McDermid | Reuters

Check out the businesses making headlines earlier than the bell:

Chegg — Shares dropped 22.7% following its earnings report Monday . The firm gave first-quarter and full-year income steering that was under analyst expectations, based on Refinitiv. Chegg famous subscriber development challenges and considerations associated to the well being of the broader economic system.

Baidu — Shares surged greater than 13% after Baidu mentioned it could launch its own artificial intelligence chatbot that can be referred to as “Ernie Bot” in English.

Bed Bath & Beyond — Shares plunged 30% after Bed Bath & Beyond announced a public providing to lift roughly $1 billion.

Oak Street Health — Oak Street Health shares surged greater than 36% after The Wall Street Journal reported CVS Health is nearing a $10.5 billion deal for the first care supplier. CVS shares have been little modified.

Hertz — Shares gained greater than 4% after Hertz reported outcomes that beat earnings per share and income expectations, based on FactSet.

ZoomInfo Technologies — Shares fell greater than 11% after ZoomInfo Technologies’ newest earnings outcomes. The software program firm beat on the highest and backside strains, based on FactSet. However, it posted a lackluster income outlook for the primary quarter and full 12 months.

Spirit Airlines — The airline inventory jumped 3% in premarket after the corporate posted stronger-than-expected fourth-quarter earnings. Spirit Airlines reported earnings of 12 cents per share excluding objects, 9 cents greater than the analysts’ estimate, based on FactSet.

Skyworks Solutions — Shares added greater than 2% after Skyworks Solutions introduced a $2 billion share buyback program. The announcement helped traders overlook an slight earnings miss within the semiconductor agency’s most up-to-date quarter.

Activision Blizzard — Shares rose 2% after Activision Blizzard topped income expectations in its most up-to-date quarter. The agency reported $3.57 billion in income, better than consensus expectations for $3.16 billion in income, based on Refinitiv.

Pinterest — Pinterest shares dipped greater than 1% after the picture sharing firm posted combined earnings outcomes. The agency reported earnings of 29 cents per share, better than forecasts for 27 cents per share, based on consensus expectations from Refinitiv. However, income got here in at $877 million, decrease than the $886 million estimate.

DuPont de Nemours — Shares declined 2% after DuPont de Nemours posted earnings outcomes from its most up-to-date quarter. The agency beat expectations on the highest and backside strains, however its earnings and income steering for the primary quarter was a lot decrease than estimates.

Leggett & Platt — Shares fell greater than 1% after Leggett & Platt reported disappointing earnings outcomes, based on consensus expectations on FactSet.

— CNBC’s Alex Harring and Yun Li contributed reporting

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