Check out 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 Street had anticipated, with income additionally beneath forecasts. Spirit shares misplaced 1.4% in premarket buying and selling.
Kontoor Brands (KTB) – The firm 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 reduce its current-quarter outlook on account of 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, nicely beneath the 64-cent consensus estimate. The e-commerce platform additionally gave a cautious outlook as lockdown-inspired progress slows amid the absence of latest shopper stimulus cash.
Wayfair (W) – The on-line house 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. Active buyer numbers have been down 23.4% in comparison with a yr earlier.
Booking Holdings (BKNG) – Booking 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 mother or father of Priceline and different providers earned an adjusted $3.90 per share, nicely 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 Street forecasts.
Etsy (ETSY) – Etsy tumbled 12.5% in premarket motion regardless of earnings that matched expectations and better-than-expected income for the net market operator. The inventory got here below stress after Etsy’s current-quarter steering was weaker than anticipated amid a drop in disposable earnings 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 elements weighing on forecasts from eBay and different e-commerce firms.
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, despite the fact that its quarterly loss was wider than anticipated. Sunrun mentioned it had applied “meaningful” worth hikes to offset increased prices and demand for photo voltaic tools remained robust.