In premarket trading, several companies are making headlines with significant stock movements.
Walmart’s shares fell by 3.7% after the retail giant’s full fiscal year outlook did not meet expectations. The company projects net sales to increase between 3.5% and 4.5%, alongside adjusted earnings per share estimated between $2.75 and $2.85. This guidance is below the $2.96 per share anticipated by analysts. Despite this disappointment, Walmart’s fourth-quarter earnings and revenue exceeded forecasts.
Hims & Hers Health saw an increase of nearly 7% in its stock value following the announcement of its acquisition of Australian digital health firm Eucalyptus for a deal valued at up to $1.15 billion.
Deere reported impressive earnings, leading to a 5.3% increase in its shares. The farm equipment seller posted first-quarter earnings of $2.42 per share on revenue of $8 billion, beating analysts’ expectations of $2.05 EPS and $7.69 billion in revenue.
DoorDash’s stock surged by 10% as the food delivery service reported a 32% increase in total orders for the fourth quarter compared to the previous year. However, although revenue climbed by 38%, the overall results missed some estimates.
Etsy enjoyed a significant spike of over 21% after its mixed fourth-quarter results and the announcement of plans to sell Depop, a consumer-to-consumer fashion marketplace, to eBay for $1.2 billion. Etsy’s earnings of 92 cents surpassed the 84 cents forecast, but its revenue of $882 million fell short of the $885 million consensus estimate.
Figma witnessed an 11% jump in its stock price due to strong quarterly results and guidance. The design software maker reported adjusted earnings of 8 cents per share on revenue of $303.8 million, exceeding analyst expectations.
Meanwhile, Carvana’s shares plummeted by 12% after the company’s adjusted EBITDA of $511 million for the fourth quarter did not meet the $539.2 million expected by analysts.
Molson Coors Beverage experienced a nearly 6% decline in its shares on a weak earnings forecast. The beverage maker projects a decrease in full-year EPS ranging from 11% to 15%, while analysts had anticipated a slight gain.
Occidental Petroleum reported better-than-expected fourth-quarter results, leading to a 4.7% increase in its stock. The natural gas producer reported an adjusted profit of 31 cents per share, surpassing the 17 cents expected by analysts.
The Cheesecake Factory’s shares fell by almost 6% after the restaurant chain reported a 2.2% decline in same-store sales for the fourth quarter, surpassing analysts’ projections of a 1.2% decline. The company announced a 5 million share buyback program and a dividend increase of 11.1%.
Six Flags Entertainment’s stock rose by 3% following its fourth-quarter earnings report that included adjusted EBITDA of $165.5 million, beating the consensus estimate. However, the company reported a larger-than-expected loss per share.
Chewy gained nearly 3% after Raymond James upgraded the stock to “outperform,” highlighting an attractive risk/reward scenario following its recent downturn.
Conversely, Avis Budget Group suffered a steep 15.7% decline when its fourth-quarter financial results failed to meet investor expectations. The rental car company reported an adjusted EBITDA of only $5 million, falling significantly short of analysts’ estimates.
Wayfair’s shares dropped by 5% despite reporting its first annual sales gain since 2020 and exceeding expectations in its Q4 results. The company recorded adjusted earnings of 85 cents per share, surpassing the forecast, yet its stock still faced a decline.
As the market reacts to these varied earnings reports, investors are closely monitoring the implications for each company moving forward.
