Check out some of the biggest movers in the premarket:
Deere (DE) – The heavy equipment manufacturer earned $ 3.87 per share for the fiscal first quarter, compared to a consensus estimate of $ 2.14 per share. Sales also exceeded expectations and Deere increased its full year earnings outlook amid improvements in the agriculture and construction industries. Deere shares were up 6.2% in premarket trading.
Roku (ROKU) – Roku stock rose 1.4% in the premarket after reporting quarterly gain of 49 cents a share, compared to consensus predictions of a 6 cents loss per share. The streaming video equipment maker’s revenues also exceeded expectations, amid a 58% increase, as consumers who stayed at home during the pandemic were looking for more video entertainment.
Uber Technologies (UBER) – The taxi company lost a major case in the UK, where a Supreme Court judge upheld an employment court ruling that Uber’s drivers were employees, not indentured servants. Uber fell 1.9% in premarket action.
Dropbox (DBX) – Dropbox was 4 cents a share higher than expected, with quarterly profit of 28 cents a share. The cloud storage company’s earnings were also above Wall Street’s forecasts. Dropbox had a higher number of paid users than expected during the quarter, as well as better than expected revenue per user. However, it also forecast sales for the year to be lower than analysts’ estimates, and shares were down 3.4% for the market.
Applied Materials (AMAT) – Applied Materials earned $ 1.39 per share for the fourth quarter, compared to a consensus estimate of $ 1.28 per share. Sales were also higher than expected. The semiconductor manufacturing equipment maker also provided an optimistic forecast for the current quarter as chip makers try to accelerate production to address a global shortage. Applied Materials was up 5% in premarket trading.
Novavax (NVAX) – The drug maker’s stock increased 10.6% in the premarket after it entered into an agreement with global vaccine alliance Gavi to supply 1.1 billion doses of its Covid-19 vaccine to an international vaccination program. effort.
TripAdvisor (TRIP) – TripAdvisor reported a quarterly loss of 41 cents a share, more than the 26 cents a share analysts had expected. The travel site operator’s revenues exceed estimates, and the company noted that pent-up travel demand and positive vaccine developments should lead to better results this year. Its shares fell 2.4% in premarket trading.
Pfizer (PFE) – The Covid-19 vaccine developed by Pfizer and BioNTech (BNTX) was already 85% effective after the first dose, according to a study by Israeli health professionals published in the medical journal The Lancet. As with a competitive vaccine from Moderna (MRNA), patients receive two doses of the Pfizer vaccine to achieve maximum protection.
Royal Caribbean (RCL) – Royal Caribbean said it will be limited to paying cash dividends and buying back shares until the third quarter of 2022, due to changes to the cruise line operator’s loan agreements. It had suspended dividends and buybacks last year when the pandemic halted cruise activity.
IBM (IBM) – IBM is considering a possible sale of its IBM Watson Health business, according to people familiar with the case and who have spoken to The Wall Street Journal. Alternatives could be a sale to a private equity firm or other health company, or a merger of the unit with a specialty acquisition company.
Texas Roadhouse (TXRH) – The restaurant chain earned 28 cents a share for the fourth quarter, less than the 49 cents that gives a consensus estimate of the stock. Revenues also lagged analyst forecasts. Texas Roadhouse said weekly sales levels weakened during the latter part of the quarter as a revival of Covid-19 forced it to close some locations. Shares of Texas Roadhouse were down 3.5% for the market.
Planet Fitness (PLNT) – The gym operator’s quarterly earnings fell 5 cents a share as it reported earnings of 17 cents a share. Revenues also lagged estimates. Same-site sales fell more than expected and Planet Fitness gave no outlook for 2021 due to uncertainty surrounding the Covid-19 pandemic. Shares fell 2.5% in premarket trading.
Rackspace (RXT) – Rackspace beat estimates by 3 cents with quarterly earnings of 26 cents per share. Revenues were also above forecasts, but the cloud service provider released a weaker than expected earnings forecast for the full year. Its shares fell 9.7% in premarket action.