Monday, March 20, 2023

Stocks making the biggest moves premarket: Uber, Chipotle, Microsoft, Lumen and more

Check out the businesses making headlines in premarket buying and selling.

Uber stated it’s “currently responding to a cybersecurity incident” after studies {that a} hacker compromised its methods.

Rafael Henrique | Sopa Images | Lightrocket | Getty Images

Uber — The ride-hailing app’s shares rose greater than 7% after it posted fourth-quarter earnings that topped analyst estimates. Uber earned 29 cents a share, beating analysts’ estimate of an 18 cent loss, Refinitiv information confirmed. Uber’s income for the quarter was up 49% year-over-year. CEO Dara Khosrowshahi stated Uber ended 2022 with its “strongest quarter ever,” capping off its “strongest year.”

associated investing information

Bank of America double upgrades Tripadvisor, says travel stock can surge nearly 60% as consumers book more experiences


Chipotle Mexican Grill — Shares of the quick informal restaurant chain fell greater than 5% on the again of disappointing quarterly outcomes. Chipotle stated it noticed prospects pull again on their restaurant spending through the fourth quarter. “As we got around the holidays, we just didn’t see that pop, that momentum, that we normally see,” CFO Jack Hartung stated on a convention name.

Microsoft — The Xbox maker rose 1.6% after it released a new AI-powered homepage for its Bing search engine.

Lumen Technologies  — The cloud community information firm misplaced 17% premarket after reporting a fourth quarter loss of $3.1 billion (together with a $3.3 billion goodwill writedown), and adjusted EPS of 43 cents vs 51c a 12 months in the past. This 12 months’s adjusted earnings steerage missed StreetAccount estimates.

Fortinet — The cybersecurity firm’s shares rose 11% after it beat analysts’ estimates in the latest quarter by 5 cents a share, based on StreetAccount.

Under Armour — The athletic attire retailer jumped practically 8% after fiscal third-quarter earnings beat expectations. Under Armour earned adjusted EPS of 16 cents vs a StreetAccount estimate of 9 cents. Revenue additionally topped estimates.

TripAdvisor — The on-line journey firm’s inventory jumped 5% after Bank of America double upgraded it to purchase. The financial institution anticipates upside of virtually 60% for TripAdvisor as shoppers e-book extra journey.

Enphase Energy — The photo voltaic firm rose 8.5% after it posted fourth quarter adjusted earnings of $1.51 per share vs a $1.27 estimate, on income of $725 million in opposition to a $707 million estimate, based on StreetAccount.

Illumina — Shares of the biotechnology firm dropped nearly 3% on fourth-quarter earnings displaying quarterly income of $1.08 billion, down 10% year-over-year.

— CNBC’s Fred Imbert, Tanaya Macheel, contributed reporting

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