Stocks with the biggest gains before the market: U, CAVA, ZM, VKTX | Private Equity Weekly
Check out the companies making headlines before the market opens. Unity Software – The video game developer forecast adjusted EBITDA for the quarter to be lower than analysts expected, sending the company’s shares down 15%. Analysts polled by FactSet expected EBITDA of $113 million, while Unity expected only $45 million to $50 million. Workday — Shares of Workday fell 5% after the enterprise software company reported its fourth-quarter report. Workday’s adjusted earnings per share were $1.57, higher than the $1.47 expected by analysts polled by LSEG. However, its revenue was in line with consensus estimates of $1.92 billion. Zoom Video — The communications software stock rose 12% after reporting better-than-expected fourth-quarter earnings. Zoom reported adjusted earnings of $1.22 per share on revenue of $1.15 billion, while analysts polled by LSEG only expected earnings of $1.15 per share on revenue of $1.13 billion. CarGurus — CarGurus shares fell 13% after the online car sales platform issued weak guidance for the quarter, although its fourth-quarter earnings and revenue beat analysts’ expectations. CarGurus expected earnings per share between 24 cents and 29 cents on revenue of $201 million to $221 million, while analysts polled by LSEG expected earnings of 31 cents per share on revenue of $2.36 One hundred million U.S. dollars. Hims & Hers — Shares of Hims & Hers soared 19% after the telemedicine company reported a strong current-quarter outlook and beat analysts’ estimates for its fourth-quarter earnings and revenue. The company reported earnings of 1 cent per share on revenue of $247 million, while analysts polled by LSEG forecast earnings of 2 cents per share on revenue of $246 million. Macy’s — Shares of the department store giant fell 3% after it reported quarterly revenue that was slightly below analysts’ expectations ($8.12 billion, according to LSEG) expected to be US$8.15 billion), and forecast sales to stagnate again. The company also reported a 4.2% decline in same-store sales, while analysts expected a 5.8% decline. Lowe’s — Shares of the home improvement retailer fell about 2% in premarket trading after reporting better-than-expected earnings even as it reported lower fourth-quarter sales and said it expected sales to fall again this fiscal year. . Lowe’s revenue was $18.6 billion, compared with analysts’ expectations of $18.45 billion, according to LSEG. AutoZone — Shares of AutoZone rose 3% after the auto retailer beat fiscal second-quarter profit and revenue estimates. According to LSEG, AutoZone earned $28.89 per share, beating analysts’ expectations of $26.28 per share. The company’s revenue of $3.85 billion also topped estimates of $3.84 billion. Cava — Shares of Cava rose 8% in one day after the Mediterranean restaurant chain reported better-than-expected fourth-quarter profit and revenue. Cava’s revenue soared 52% from the same period last year to $175.5 million, while analysts polled by FactSet expected $174.3 million. Cava’s full-year EBITDA guidance was also higher than expected. Roku — Shares of the streaming device company fell 2.5% after Wells Fargo downgraded the streaming device company to underweight from equal weight. Wells Fargo says Walmart’s acquisition of Vizio could hurt Roku’s growth. PPG Industries — Shares of PPG Industries edged lower after Barclays downgraded the paint and coatings maker to equal weight from overweight after the company said it would review strategic alternatives for its U.S. and Canadian architectural coatings business. . Barclays said it disclosed “well weaker than expected” results from its North American construction business. Viking Therapeutics — The clinical-stage biotech developing anti-obesity drugs has soared more than 100% after announcing that its Phase 2 GLP-1 study has met its primary and secondary endpoints. Specifically, its Phase 2 VENTURE trial showed that all patients treated with VK2735 experienced significant weight loss compared with the placebo group. Viking’s next steps include working with the FDA to begin development of VK2735. —CNBC’s Michelle Fox, Tanaya Machel, Sarah Min and Jesse Pond contributed reporting.
