Here’s a look at the biggest movers in premarket trading: Beyond Meat — The plant-based meat company beat fourth-quarter revenue estimates and said it would “significantly reduce” costs this year, sending its shares soaring 59% a day later. Revenue was $73.7 million, while analysts polled by LSEG expected $66.7 million. Bumble — The dating app company announced plans to lay off about 350 employees on Tuesday and gave a disappointing revenue forecast in its fourth-quarter earnings, sending its shares tumbling nearly 12%. Bumble’s latest quarterly revenue was $273.6 million, up from $241.6 million in the same period last year, with a loss of 19 cents per share, compared with a loss of 35 cents per share in the same period last year. Bumble also plans to improve its app to attract more users. Advance Auto Parts — Shares of Advance Auto Parts rose 7% after the auto parts retailer gave upbeat full-year guidance. AAP expects 2024 earnings of $3.75 to $4.25 per share, above the $3.65 expected by analysts polled by FactSet. Fourth-quarter revenue was in line with expectations, while profit was below expectations. eBay — The online marketplace gained 5% in one day, beating fourth-quarter profit and revenue estimates. First-quarter earnings per share guidance also topped expectations. Additionally, Ebay announced a dividend increase and authorized another $2 billion in stock repurchases. Baidu — Shares of the U.S.-listed Chinese Internet company fell 2% after its fourth-quarter adjusted EBITDA fell short of analysts’ expectations and revenue missed estimates, according to FactSet’s StreetAccount data. First Solar — Shares rose nearly 7% in a day after reporting better-than-expected fourth-quarter profit. Earnings per share were $3.25, compared with the consensus estimate of $3.13, according to LSEG. First Solar’s full-year guidance was in line with expectations. Lemonade — Shares of Lemonade fell 15.5% a day after the insurance company gave disappointing first-quarter and full-year guidance. Although fourth-quarter adjusted EBITDA and revenue beat expectations, Lemonade forecast first-quarter revenue in the range of $111 million to $113 million, below the $119.8 million estimate by analysts surveyed by FactSet. Full-year revenue guidance was $505 million to $510 million, below consensus expectations of $520.9 million. Revolve Group — Shares of Revolve Group rose 3% after the online fashion retailer’s fourth-quarter profit and revenue beat analysts’ expectations. Revolve reported adjusted earnings before interest, taxes, depreciation and amortization of $8.5 million on revenue of $257.8 million, beating analysts’ expectations of $3.4 million in EBITDA on revenue of $246.2 million, according to FactSet. Applied Materials — Shares fell 2% after the chipmaker disclosed it had received subpoenas from the U.S. Securities and Exchange Commission and the U.S. Attorney’s Office regarding shipments to customers in China. Applied Materials said it is fully cooperating. Viatris — Shares fell 2% after the pharmaceutical company reported disappointing fourth-quarter revenue. Viatris revenue was $3.83 billion, below the $3.89 billion expected by analysts polled by FactSet. Adjusted net profit was also lower than expected. Ambarella — Shares of Ambarella rose about 9% after the semiconductor maker reported a loss of 24 cents per share in its latest quarter, below expectations, and revenue in line with analysts’ expectations. First-quarter revenue guidance was broadly in line with Wall Street expectations. TJX Companies — Shares of TJX Companies rose 2% after the parent company of TJ Maxx and Marshalls reported stronger-than-expected quarterly revenue. Fourth-quarter revenue of $16.41 billion was higher than the $16.2 billion expected by analysts polled by FactSet, while earnings of $1.12 per share were in line with expectations. TJX’s consolidated same-store sales rose 5% in the fourth quarter, above its own level, “driven entirely by increased customer transactions.” Urban Outfitters – The apparel retailer’s shares fell nearly 10% a day after fourth-quarter profit and revenue fell short of expectations. Earnings per share were 69 cents, compared with the consensus estimate of 74 cents, according to FactSet. Revenue of $1.49 billion was below expectations of $1.5 billion. Crypto Stocks – Cryptocurrency-related stocks rose as Bitcoin soared above $60,000. Coinbase rose 6% and CleanSpark rose 8%. Microstrategy bought an additional 3,000 Bitcoins on Monday, sending its shares up 9%. —CNBC’s Sarah Min, Lisa Han, Jesse Pound, Pia Singh and Samantha Subin contributed reporting.
