Find out which companies are making headlines in pre-market commerce.
Uber said it is “currently responding to a cybersecurity incident” after reporting that a hacker had compromised its systems.
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Uber – Shares of the ride-hailing app rose more than 7% after reporting fourth-quarter earnings that beat analysts’ estimates. Uber earned 29 cents per share, beating analysts’ estimate of an 18-cent loss, according to Refinitiv data. Uber’s revenue for the quarter increased 49% year over year. CEO Dara Khosrowshahi said Uber ended 2022 with its “strongest quarter ever”, capping its “strongest year”.
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Chipotle Mexican Grill — Shares of the fast-casual restaurant chain fell more than 5% on disappointing quarterly results. Chipotle said it saw customers reduce restaurant spending during the fourth quarter. “As we moved through the holidays, we just didn’t see that pop, that momentum, that we normally see,” chief financial officer Jack Hartung said on a conference call.
Microsoft — Manufacturer Xbox rose 1.6% after releasing a new AI-powered homepage for its Bing search engine.
Lumen Technologies – The cloud networking data company fell 17% premarket after reporting a fourth-quarter loss of $3.1 billion (including a $3.3 billion goodwill impairment) and adjusted EPS of 43 cents versus 51c a year ago. This year’s adjusted earnings forecast missed StreetAccount’s estimates.
Fortinet – Shares of the cybersecurity company rose 11% after beating analyst estimates in the last quarter of five cents a share, according to StreetAccount.
under protection — The sportswear retailer jumped nearly 8% after fiscal third-quarter profits beat expectations. Under Armor earned adjusted EPS of 16 cents versus StreetAccount’s estimate of 9 cents. Revenues also exceeded estimates.
TripAdvisor — The online travel company’s stock jumped 5% after Bank of America upgraded it to buy. The bank predicts a nearly 60% increase for TripAdvisor as consumers book more trips.
Enphase Energy – The solar company rose 8.5% after reporting fourth-quarter adjusted earnings of $1.51 per share versus an estimate of $1.27, on revenue of $725 million versus an estimate of $707 million dollars, according to StreetAccount.
Illuminated – Shares of the biotech company fell nearly 3% on fourth-quarter earnings, posting quarterly revenue of $1.08 billion, down 10% year-over-year.
– CNBC’s Fred Imbert, Tanaya Macheel, contributed reporting
