Stocks making the biggest premarket moves: Shake Shack, Virgin Galactic, Paramount and more
Check out the companies making the biggest moves premarket:
Shake Shack — Shares of the quick-service restaurant chain rose slightly after reporting a narrower loss than expected and same-store sales rose 5% year over year. Revenue was in line with expectations.
Virgin Galactic Holdings — The space travel company gained nearly 3% in the premarket, a day after its Eve mothership had its first test flight since undergoing mechanical upgrades.
Paramount Global — The entertainment stock slumped 6% in premarket trading after Paramount missed estimates on the top and bottom lines for the third quarter. After adjustments, it earned 8 cents per share on $8.13 billion of revenue. Analysts surveyed by Refinitiv were expecting earnings of 23 cents per share on $8.16 billion of revenue. The company did add 9.9 million Paramount Plus subscribers, but reported a 7% decline in advertising revenue for its TV business.
Hasbro — The toymaker ticked about 1% higher after reporting a stronger-than-expected profit. Hasbro earned $1.31 per share, excluding items, topping a Refinitiv consensus estimate of $1.29 per share. Its revenue of $1.68 billion was in-line with estimates.
Tripadvisor — The online travel company fell more than 4% in the premarket after being downgraded by Bernstein to market perform from outperform. The Wall Street firm said Tripadvisor's strategic plan appeared more defensive than offensive. Tripadvisor outpaced fourth-quarter estimates on Wednesday.
Roku — The streaming device company rallied nearly 9% after reporting a narrower-than-expected loss of $1.70 per share, compared with $1.73 per share, per Refinitiv. Its revenue of $867 million topped estimates of $802 million.
Cisco Systems — The digital communications company gained 3.5% after it raised its outlook for the year in the wake of strong earnings. Excluding items, it earned 88 cents per share, slightly above the Refinitiv estimate of 86 cents per share. Cisco also beat revenue expectations.
Twilio— The communications tools maker rose nearly 9% after reporting revenue of $1.02 billion, above the $1 billion analyst polled by Refinitiv expected.
Shopify — The cloud-based e-commerce platform's shares plunged more than 13% on Thursday after it issued lighter-than-expected guidance for the current quarter. Otherwise, Shopify's earnings and revenue beat Wall Street's expectations.
Zillow Group — The online real estate company added nearly 2% in the premarket after reporting adjusted earnings of 21 cents per share on revenue of $435 million. That beat analysts' expectations of 7 cents per share on $415 million in revenue, per Refinitiv.
West Pharmaceutical Services — The drug and health-care products manufacturer gained 5.3% after reporting a fourth-quarter earnings and revenue beat. Adjusted earnings came in at $1.77 per share, versus a StreetAccount estimate of $1.38 per share. Revenue was $708.7 million, compared with the $657.2 million expected.
Boston Beer — The brewing company dropped more than 12% after reporting a surprise fourth-quarter loss of $11.4 million, or 93 cents per share. The company said supply-chain inefficiencies hurt its margins and it expects to post a loss in the first quarter as well.
Generac Holdings— The generator builder rose more than 1% after being upgraded by Canaccord Genuity to buy from hold on the back of its latest earnings report. On Wednesday Generac posted earnings that beat estimates and provided a better-than-expected revenue forecast for the year.
Synopsys — The silicon design company shed 3.8% after issuing weaker-than-expected second-quarter guidance. Synopsys beat earnings expectations in the first quarter, but revenue was in-line.
— CNBC's Fred Imbert, Jesse Pound and Hakyung Kim contributed reporting.
Correction: A previous headline misstated the time of day the stocks were moving.