Check out the companies making headlines in pre-market trading. Twilio — Shares of Twilio fell nearly 11% after the consumer engagement company issued lower-than-expected revenue guidance for the quarter. Twilio also reported a fourth-quarter total number of active consumers that fell short of Wall Street expectations. Cisco — Shares of Cisco Systems fell 4.4% after the technology company reported a year-over-year revenue decline in its fiscal second quarter. Cisco also issued lower-than-expected fiscal third-quarter guidance and announced a layoff plan that will result in a 5% reduction in employment. Coinbase — Shares of Coinbase rose 8% after JPMorgan upgraded the cryptocurrency trading platform from underweight to neutral, citing rising cryptocurrency prices. On Wednesday, Bitcoin’s market value returned to $1 trillion, hitting a more than two-year high. On Thursday, Bitcoin was last up more than 1%. Tripadvisor — The online booking company’s fourth-quarter revenue and profit beat Wall Street estimates, sending its shares up nearly 5%. Tripadvisor reported adjusted earnings of 38 cents per share on revenue of $390 million, while analysts polled by LSEG forecast earnings of 22 cents per share on revenue of $374 million. JFrog — Shares of JFrog rose more than 19% after the software development company’s fourth-quarter results beat Wall Street expectations. JFrog reported adjusted earnings of 19 cents a share on revenue of $97 million, while analysts polled by FactSet expected earnings of 12 cents a share on revenue of $93 million. Shake Shack – The restaurant’s shares rose nearly 17% after the company beat Wall Street’s revenue and profit forecasts. Shake Shack reported fourth-quarter adjusted earnings per share of $0.02 on revenue of $286.24 million, while analysts surveyed by LSEG forecast $0.01 and $280.3 million, respectively. Deere — Shares of Deere fell 4% in premarket trading after the agricultural machinery maker lowered its full-year net profit guidance. For the full year through October, Deere expects net profit to be $7.5 billion to $7.75 billion, down from previously issued guidance of $7.75 billion to $8.25 billion. Chief Executive John C. May said in a statement: “Looking forward, we expect fleet recruitment to slow as agricultural fundamentals normalize from record levels in 2022 and 2023. “In addition, Deere’s first-quarter results exceeded expectations for both revenue and profit. Super Micro Computer — Shares of Super Micro Computer rose more than 4% after Bank of America initiated a buy rating on the information technology stock. AMD will be a major beneficiary of future AI opportunities, the company said, adding that the company could be a future partner for peers such as Nvidia, AMD and Intel. Marathon Digital Holdings – Shares of the cryptocurrency mining company rose more than 4% after Bitcoin regained $1 trillion in market capitalization and climbed to a two-year high. Arm Holdings – Shares of Arm Holdings were higher in premarket trading after artificial intelligence darling Nvidia listed an investment in the chipmaker, according to a regulatory filing. —CNBC’s Hakyung Kim, Sarah Min and Pia Singh contributed reporting
