Stocks to Watch Before the Bell: PepsiCo, Cloudflare, Pinterest, Expedia Group, CleanSpark, United Airlines, Newell Brands, Illumina, Bill Holdings, Affirm, Take-Two Interactive Software
PepsiCo shares slipped 1.4% after reporting mixed fourth-quarter results. The company’s revenue of $27.85 billion fell short of the consensus estimate of $28.4 billion. However, adjusted earnings per share were $1.78, beating the expected $1.72. PepsiCo attributed the lower revenue to high borrowing costs and decreased personal savings among consumers.
Cloudflare saw its shares surge 27% as it surpassed analysts’ expectations in its fourth-quarter report. The cloud services provider reported adjusted earnings of 15 cents per share on revenue of $362 million. This exceeded the projected earnings of 12 cents per share and $353 million in revenue.
Pinterest experienced a drop of over 8% after issuing a weaker-than-expected forecast. While it beat earnings estimates in its fourth-quarter report, the company disappointed on revenue projections.
Expedia Group’s shares plunged 15% despite posting better-than-expected adjusted fourth-quarter results. The travel platform operator reported earnings of $1.72 per share on revenue of $2.89 billion, surpassing analysts’ expectations of $1.68 per share and $2.88 billion in revenue. However, the stock declined due to underperformance in the air travel category.
CleanSpark saw a rise of 19% in its shares following its fiscal first-quarter report that exceeded expectations. The bitcoin miner reported earnings of 14 cents per share compared to the anticipated loss of 26 cents per share and generated revenue of $73.8 million against an expected $71 million.
United Airlines experienced a 2.7% gain in its shares after being upgraded to outperform from in-line by Evercore ISI. The stock is predicted to increase by over 50%.
Newell Brands’ shares dipped 1% after issuing weaker-than-expected guidance for the first quarter and full year. Although the company exceeded fourth-quarter expectations, it anticipates a normalized loss per share in the first quarter and forecasts revenue growth below analysts’ expectations.
Illumina’s shares dropped 4% despite reporting fourth-quarter results that beat consensus estimates. Bill Holdings also saw its shares fall by 3% despite reporting stronger-than-expected revenue in the fiscal second quarter. However, Bill Holdings expects revenue to be below $310 million in the third quarter.
Affirm’s shares dropped 7% despite reporting second-quarter earnings per share and revenue that exceeded analysts’ expectations. Take-Two Interactive Software’s shares also fell more than 8% following a lackluster current-quarter forecast.
Sources:
CNBC
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