Stock futures were lower Friday as investors assessed the latest comments from Federal Reserve officials on the path of interest rates.
These stocks were poised to make moves Friday:
Lyft (ticker: LYFT), the ride-sharing company, was falling 32.7% in premarket trading after saying it expects first-quarter revenue of $975 million, below analysts’ estimates of $1.09 billion. The company also said adjusted Ebitda, or earnings before interest, taxes, depreciation, and amortization, in the fourth quarter was a loss of $248.3 million, largely reflecting an increase in insurance reserves, and a change in the way the company accounts for those reserves.
Newell Brands
(NWL) fell 11.4% after the maker of Sharpie and Rubbermaid brands said it expected a loss in the first quarter vs. analysts’ expectations for profit of 22 cents. The company also said Chief Executive Ravi Saligram will retire in May.
PayPal
(PYPL) was up 0.3% in premarket trading after the fintech’s fourth-quarter adjusted earnings beat analysts’ estimates and the company announced Chief Executive Dan Schulman would be retiring by the end of the year. Schulman joined
PayPal
in 2014 after its separation from eBay. PayPal’s market capitalization nearly tripled during his tenure.
Alteryx
(AYX), the data-analytics software company, said fourth-quarter revenue rose 73% to $301.1 million, and it issued a full-year revenue outlook higher than Wall Street estimates. The stock was gaining 9.4%.
Cloudflare
(NET) was rising 7.2% after the cybersecurity company issued a first-quarter earnings forecast that was slightly above analysts’ estimates. The company also said it expects first-quarter revenue of $290 million to $291 million vs. estimates of $250.6 million.
Yelp
(YELP) said it expects net revenue in 2023 of between $1.29 billion and $1.31 billion “as it continues executing on its strategic initiatives.” Analysts surveyed by FactSet were forecasting revenue of just under $1.29 billion. Revenue for 2022 was a record $1.2 billion. The stock was rising 5.1%.
DexCom
(DXCM) rose 3.7% after the medical devices company offered a fiscal year revenue guidance range that aligned with consensus.
Online-travel company
Expedia
(EXPE) reported fourth-quarter earnings that missed expectations. The stock was falling 2.5% in premarket trading.
Expedia
said its fourth-quarter results “were negatively impacted by severe weather” but that “demand was otherwise strong and accelerating, and has been markedly stronger since the start of the year.”
VeriSign
(VRSN) declined 2.3% after the domain name registry services company posted fourth-quarter earnings that beat expectations.
Write to Joe Woelfel at joseph.woelfel@barrons.com
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