Here are the stocks making headlines before the bell on Wednesday, May 8. Uber Technologies â The ride-hailing giant slid 7% after reporting mixed first-quarter results. The company’s overall revenue exceeded expectations, coming in at $10.13 billion versus an LSEG estimate of $10.11 billion. Booking revenue, however, totaled $37.65 billion . That’s below a StreetAccount forecast of $37.93 billion. Reddit â The social media company rose 11% after its first quarterly report beat expectations. Reddit reported a loss of $8.19 per share on $243 million of revenue. Analysts surveyed by FactSet were expecting a loss of $8.75 per share on $214 million of revenue. Lyft â Shares of the ride-hailing company rose 5% after first-quarter results showed faster-than-expected growth. Lyft reported $1.28 billion in revenue, above the StreetAccount consensus of $1.16 billion. Total bookings also topped expectations. Electronic Arts â The video game stock fell more than 3% after disappointing results for the fiscal fourth quarter. EA reported an adjusted $1.37 in earnings per share and $1.67 billion of net bookings. Analysts surveyed by StreetAccount were expecting $1.52 in earnings per share on $1.78 billion of revenue. Guidance for current quarter also missed expectations. Intel â Shares of the chipmaker fell more than 2% after releasing revised second-quarter guidance. Intel said it now expects revenue below $13 billion for the quarter after the Department of Commerce revoked export licenses for a customer in China. Twilio â Shares fell 7% after the software company issued disappointing guidance for the second quarter. Twilio anticipates revenue to range between $1.05 billion and $1.06 billion, compared to the $1.08 billion expected from analysts polled by LSEG. However, the company beat on both the top and bottom line for the first quarter. Rivian â Shares of the struggling automaker fell 7% after Rivian reported a loss $527 million for the first quarter, compared to a $535 million loss a year ago, even though revenue nearly doubled. Toast â Shares of the cloud-based restaurant management software company climbed more than 5% after its earnings report. Toast posted a revenue of $1.08 billion, higher than an LSEG estimate of $1.04 billion. A loss of 15 cents came in 1 cent more than the 14 cents expected, however. Dutch Bros â Shares of the coffee chain rose more than 8% after a better-than-expected first quarter. Dutch Bros. reported 9 cents in adjusted earnings per share on $275 billion of revenue. Analysts surveyed by LSEG were expecting 2 cents per share on $256 million of revenue. Affirm â The fintech stock climbed 2.7% after Affirm’s fiscal third quarter topped Wall Street estimates. Affirm lost 43 cents per share on $576 million of revenue. Analysts surveyed by LSEG were expecting a loss of 70 cents per share on $549 million of revenue. Tripadvisor â The travel stock sank 17% after the company announced its special committee had not found any potential deals with third parties that are in the best interest of shareholders. Cirrus Logic â The semiconductor stock jumped more than 12% after topping expectations in its latest quarter. Cirrus Logic posted fourth-quarter adjusted earnings of $1.24 per share, exceeding the 64 cents per-share earnings analysts polled by StreetAccount anticipated. Revenue of $371.8 million was also greater than the StreetAccount consensus estimate of $315.6 million. Shopify â The e-commerce stock fell 18% after second-quarter guidance called for gross margin to shrink compared to the first quarter. Arista Networks â Shares of the computer networking company jumped 6% after a better-than-expected first quarter. Arista reported $1.99 in earnings per share on $1.57 billion of revenue. Analysts surveyed by LSEG were $1.74 in earnings per share on $1.55 billion of revenue. Match Group â The dating app stock fell more than 5% after delivering second-quarter guidance that was below expectations. Match projected between $850 million and $860 million of revenue, while analysts surveyed by StreetAccount were looking for $882.7 million. â CNBC’s Fred Imbert, Michelle Fox Theobald, Yun Li and Sarah Min contributed reporting.
Source Agencies
