Stocks making the biggest moves premarket: Coinbase, DoorDash, Poshmark and more
Check out the companies making headlines before the bell:
Coinbase (COIN) — Shares of Coinbase sunk more than 11% premarket after the company reported lower-than-expected quarterly revenue. The cryptocurrency exchange reported revenue of $1.31 billion versus the Refinitiv consensus of $1.57 billion. Monthly transacting users declined from the previous quarter at 7.4 million but grew from the prior year.
Poshmark (POSH) — Poshmark shares plunged more than 31% in early morning trading after the online marketplace reported quarterly financial results. The company posted a loss of 9 cents per share on revenue of $79.7 million. Analysts surveyed by Wall Street expected a loss of 7 cents per share versus $82.7 million. Poshmark also forecasted weaker-than-expected holiday-quarter revenue.
DoorDash (DASH) — Shares of DoorDash surged more than 15% before the bell as the food delivery platform announced it will acquire international delivery platform Wolt in a transaction valued at $8.1 billion, its biggest acquisition to date. The company also reported a wider quarterly loss than analysts expected, but topped revenue estimates.
FuboTV (FUBO) — Shares of FuboTV fell roughly 8% in the premarket after the sports live television streaming platform reported weaker-than-expected financial results. The company posted a loss of 74 cents per share and revenue of $156.7 million for the third quarter. Analysts expected a loss of 63 cents per share on revenue of $143.6 million.
Wendy's (WEN) — Shares of Wendy's gained more than 1% in early morning trading after the fast-food chain posted quarterly financial results above expectations. Wendy's posted earnings of 19 cents per share on revenue of $470.3 million, versus the expected 18 cents per share on revenue of $470.2 million, according to Refinitiv.
Palantir (PLTR) — Palantir share fell more than 2% before the bell after RBC downgraded the stock to underperform from sector perform and cut its price target on the stock to $19 per share from $25 per share. RBC in its call cited Palantir's slowing revenue growth.
Alphabet (GOOGL) — Google-parent Alphabet shares traded in mildly negative territory in the premarket after the European Union's General Court upheld the European Commission's order to fine Google $2.8 billion for an antirust breach
Source: Read Full Article