Tuesday, February 7, 2023
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Below Armour, Zillow, Expedia and others


Take a look at the businesses making headlines earlier than the bell:

Under Armour (UAA) – The athletic attire maker reported an adjusted quarterly revenue of 14 cents per share, doubling consensus estimates, with better-than-expected income. Below Armour noticed sturdy demand for its athletic put on and was additionally helped by greater costs applied to counter elevated prices. Nevertheless, Below Armour mentioned its gross margins would fall by 200 foundation factors for the present quarter because of provide chain challenges, and the inventory slid 2.6% in premarket motion.

Newell Brands (NWL) – The family merchandise maker’s inventory added 1.2% in premarket buying and selling after reporting better-than-expected revenue and income. it additionally issued an upbeat revenue forecast. The corporate behind manufacturers like Mr. Espresso, Crock-Pot and Sunbeam earned an adjusted 42 cents per share for its newest quarter, 10 cents above estimates.

Zillow Group (ZG) – Zillow posted an adjusted quarterly lack of 42 cents per share, in contrast with a projected lack of $1.07. The true property web site operator additionally reported better-than-expected income. These outcomes got here regardless of an $881 million loss on its now-shuttered home-flipping enterprise. Zillow shares surged 13.2% within the premarket.

Expedia (EXPE) – Expedia earned an adjusted $1.06 per share for its newest quarter, beating the 69-cent consensus estimate, although the journey companies firm’s income was simply shy of analyst forecasts. Expedia mentioned the Covid-related impression on journey bookings was important, however much less extreme and for a shorter period than prior Covid waves. Expedia rallied 4.6% in premarket buying and selling.

Aurora Cannabis (ACB) – Aurora Hashish reported better-than-expected hashish gross sales throughout its newest quarter, the primary time it has been in a position to exceed analyst estimates in additional than a 12 months. Aurora reported a quarterly lack of $59 million, considerably lower than a 12 months earlier. The inventory slid 4.6% in premarket motion.

Zendesk (ZEN) – Zendesk rejected a takeover bid of $127 to $132 per share from a gaggle of personal fairness corporations. The software program improvement firm mentioned it might push forward with its proposed acquisition of SurveyMonkey father or mother Momentive Global (MNTV), regardless of strain from activist investor Jana Companions to desert the deal. Zendesk rose 2.7% within the premarket, whereas Momentive World jumped 7.9%.

GoDaddy (GDDY) – GoDaddy beat estimates by 11 cents with adjusted quarterly earnings of 52 cents per share and better-than-expected income. The cloud computing firm additionally introduced a $3 billion share repurchase program. GoDaddy leaped 5.8% within the premarket.

Yelp (YELP) – Yelp greater than doubled the 14-cent consensus estimate in reporting a quarterly revenue of 30 cents per share. The web evaluation web site operator additionally reported better-than-expected income amid energy in its promoting enterprise. Yelp jumped 4.5% in premarket motion.

Affirm Holdings (AFRM) – The monetary know-how firm — finest recognized for its buy-now-pay-later plans — tumbled 10.4% within the premarket after plummeting 21.4% in Thursday buying and selling. Affirm inventory first plunged after the corporate inadvertently launched its quarterly report sooner than meant. The strain continued amid projections of upper transaction quantity however lower-than-expected income.

Cedar Fair (FUN) – The theme park operator’s inventory gained 2.8% in premarket buying and selling following a Bloomberg report that non-public fairness agency Centerbridge Companions acquired a 5% stake. Cedar Truthful is presently within the technique of reviewing a $3.4 billion takeover bid from SeaWorld Entertainment (SEAS).



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