Check out the companies that make headlines before the bell:
Expedia (EXPE) – The travel website operator’s share of the pre-market rose 5.4% after Expedia beat the top and bottom estimates in its latest quarterly report. Demand for travel was strong, with accommodation revenue up 57% from a year ago and airfare revenue up 22%.
Block (SQ) – Shares of the payment services company fell 6.4% in premarket trading, although it reported better-than-expected quarterly results. The drop comes as Block reports a 34% drop in revenue at its Cash App unit.
Lyft (LYFT) – Ride-hailing service share rose 7.5% in premarket action after it reported an unexpected quarterly profit and saw passenger numbers climb to the highest level since pre-pandemic. Lyft said the results were also helped by cost containment.
DoorDash (DASH) – DoorDash rose 10.3% in the pre-market after the food delivery service increased its forecast for gross order value, an important statistic. DoorDash reported a larger-than-expected quarterly loss, but sales were ahead of Wall Street’s forecasts.
DraftKings (DKNG) – The sports betting company reported better-than-expected earnings and adjusted earnings for the last quarter, and also raised its full-year revenue forecast. Shares of DraftKings rose 8.2% in premarket action.
AMC Entertainment (AMC) – The cinema operator’s shares fell 9% in the premarket after it said it would pay a stock dividend to all common shareholders in the form of preferred stock. Separately, AMC reported a slightly larger-than-expected quarterly loss.
Warner Brothers Discovery (WBD) – Shares of the media company fell 11.6% in premarket trading after it reported a quarterly loss and earnings that fell below Wall Street’s forecasts.
Beyond Meat (BYND) — The plant-based meat alternatives maker reported larger-than-expected quarterly loss and revenue that fell short of analyst estimates. Beyond Meat also announced it would lay off 4% of its global workforce. The stock fell 3.6% in pre-market action.
Carvana (CVNA) – Carvana shares rose 8.4% in premarket trading after the online used car seller said it “aggressively” cut costs in preparation for a potential economic downturn.
Virgin Galactic (SPCE) – Virgin Galactic plunged 14.2% in pre-market after announcing a delay in commercial space launch launches through the second quarter of 2023. Virgin Galactic also said it would sell up to $300 million in shares. sell it to increase its cash reserves.