Take a look at the businesses making headlines earlier than the bell:
Twitter (TWTR) – Twitter rose 1.5% in premarket motion after Elon Musk detailed $7.2 billion in financing commitments for his deal to purchase the corporate. An SEC submitting exhibits Oracle co-founder Larry Ellison and investor Ron Baron are amongst these committing funds.
SeaWorld (SEAS) – The theme park operator’s inventory rose 1% within the premarket after it reported a smaller-than-expected quarterly loss and noticed income exceed estimates as attendance topped pre-pandemic ranges
Spirit Airlines (SAVE) – Spirit reported an adjusted quarterly lack of $1.60 per share, wider than the 58-cent loss Wall Avenue had anticipated, with income additionally under forecasts. Spirit shares misplaced 1.4% in premarket buying and selling.
Kontoor Brands (KTB) – The corporate behind the Wrangler and Lee attire manufacturers beat estimates by 20 cents with adjusted quarterly earnings of $1.43 per share, and income additionally above estimates. Kontoor raised its full-year forecast, though it minimize its current-quarter outlook resulting from Covid lockdowns in China.
Shopify (SHOP) – Shopify plummeted 14.1% in premarket buying and selling after it reported adjusted quarterly earnings of 20 cents per share, properly under the 64-cent consensus estimate. The e-commerce platform additionally gave a cautious outlook as lockdown-inspired progress slows amid the absence of recent client stimulus cash.
Wayfair (W) – The net residence items retailer’s shares tumbled 6.4% within the premarket after it reported an adjusted quarterly lack of $1.96 per share, 40 cents wider than anticipated, though income matched forecasts. Lively buyer numbers have been down 23.4% in comparison with a yr earlier.
Booking Holdings (BKNG) – Reserving Holdings surged 10.1% in premarket buying and selling after reporting better-than-expected quarterly revenue and income pushed by a bounce in demand for the journey providers firm. The father or mother of Priceline and different providers earned an adjusted $3.90 per share, properly above the 90-cent consensus estimate.
Twilio (TWLO) – Twilio shares added 2.4% within the premarket with the cloud communications firm reporting a breakeven quarter, on an adjusted foundation. Analysts had anticipated a lack of 22 cents per share, and income additionally exceeded Wall Avenue forecasts.
Etsy (ETSY) – Etsy tumbled 12.5% in premarket motion regardless of earnings that matched expectations and better-than-expected income for the web market operator. The inventory got here below strain after Etsy’s current-quarter steering was weaker than anticipated amid a drop in disposable revenue for customers.
EBay (EBAY) – eBay shares fell 7.8% in premarket buying and selling on a weaker-than-expected income forecast, even because the e-commerce firm beat revenue and income predictions for its most up-to-date quarter. Inflation and a return to pre-pandemic procuring habits are among the many components weighing on forecasts from eBay and different e-commerce corporations.
Sunrun (RUN) – Sunrun rallied 12.8% in premarket buying and selling after the photo voltaic firm reported first-quarter income that was a lot better than anticipated, though its quarterly loss was wider than anticipated. Sunrun stated it had carried out “significant” worth hikes to offset greater prices and demand for photo voltaic tools remained sturdy.
