Take a look at some of the biggest movers in the premarket:
Foot Locker (FL) – Foot Locker shares tanked 12.1% in premarket trading after quarterly revenue came in below Street forecasts and comparable-store sales unexpectedly declined. The athletic apparel and footwear retailer also reported quarterly profit of $1.55 per share, beating consensus by 20 cents a share.
DraftKings (DKNG) – Shares of the online sports gambling company rose 3.2% in the premarket after DraftKings reported better-than-expected quarterly revenue and raised its full-year revenue forecast. The company said it is seeing a substantial increase in user activation due to marketing expenditures and further legalization of sports gambling.
Cinemark (CNK) – The movie theater operator’s stock dropped 2.6% in premarket action after it reported a wider-than-expected loss for its latest quarter. Cinemark was impacted by pandemic-related theater closures, although quarterly revenue did top Wall Street forecasts.
Salesforce.com (CRM) – Salesforce earned $1.04 per share for its latest quarter, beating the consensus estimate of 75 cents a share. Revenue beat forecasts as well, however the business software giant gave a weaker-than-expected full-year profit forecast. Analysts are also expressing concern about the impact of the company’s acquisition of messaging platform Slack (WORK). Salesforce shares fell 4.4% in the premarket.
Rocket Companies (RKT) – The parent of Quicken Loans and other financial service offerings reported quarterly earnings of $1.09 per share, compared to a consensus estimate of 87 cents a share. Revenue also topped forecasts. Rocket completed a year of record mortgage volume, and announced it would pay a special dividend of $1.11 per share. Rocket stock rose 9.1% in premarket trading.
AT&T (T) – AT&T is spinning off its DirecTV and other pay-TV services into a separate company, with private-equity firm TPG Capital as a 30% owner of the new entity. The deal will provide AT&T with $8 billion in cash, which it will use to pay down debt. The deal values the pay-tv services at a combined $16.25 billion, compared to the $66 billion that AT&T paid for DirecTV alone in 2015.
Beyond Meat (BYND) – Beyond Meat struck a three-year deal to be the preferred supplier for the McDonald’s (MCD) “McPlant” plant-based burger, and also struck an exclusive supply deal with Taco Bell parent Yum Brands (YUM). Investor enthusiasm over the deals helped erase losses that the stock had seen earlier after Beyond Meat reported a larger than expected quarterly loss. Beyond Meat shares jumped 6.2% in premarket trading.
Airbnb (ABNB) – Airbnb reported a loss in its first quarter as a public company, but the company did see better than expected revenue as the pandemic prompted consumers to embrace local travel.
Etsy (ETSY) – Etsy earned $1.08 per share for its latest quarter, well above the 59 cents a share consensus estimate. The online crafts marketplace also saw revenue beat Wall Street forecasts. Etsy also issued an upbeat current-quarter forecast, and its shares rose 6% in premarket action.
DoorDash (DASH) – DoorDash reported better-than-expected sales during the fourth quarter, tripling year-ago levels as the pandemic prompted a surge in restaurant delivery orders. DoorDash is predicting a slowdown in orders, however, as Covid-19 vaccines roll out. Its shares tanked 11.4% in premarket trading.
Nikola (NKLA) – Nikola shares fell 2.1% in the premarket after the electric vehicle maker said in a Securities and Exchange Commission filing that founder Trevor Milton had made several inaccurate statements about its technology. Nikola had previously denied issuing misleading communications to the public.
WW International (WW) – WW earned 18 cents per share for its latest quarter, short of the 32 cents a share consensus estimate. The Weight Watchers parent’s revenue beat estimates. WW is seeing strong growth in digital subscriptions but a decline when its virtual workshops are included. Shares sank 9.7% in the premarket.
Workday (WDAY) – Workday reported quarterly earnings of 73 cents per share, beating the 55 cents a share consensus estimate. The human resources software company’s revenue came in slightly above forecasts. Workday issued a weaker-than-expected forecast for subscription sales during this fiscal year, sending its shares down 7.2% in premarket trading.
Groupon (GRPN) – The daily deals company nearly doubled the 26 cents a share consensus estimate with quarterly earnings of 51 cents per share. Revenue also topped Wall Street forecasts. Its shares jumped 13.1% in the premarket.