Check out the companies making headlines in pre-market trading. Dropbox — Shares of Dropbox fell nearly 13% after the cloud storage company issued lower-than-expected first-quarter revenue guidance. Dropbox currently expects revenue between $627 million and $630 million, while analysts polled by FactSet expected revenue of $632.5 million. Ingersoll Rand — The industrial products company’s fourth-quarter revenue and profit beat Wall Street estimates, sending shares up nearly 6% before the bell. Ingersoll reported earnings excluding items of 86 cents per share on revenue of $1.82 billion, while analysts polled by FactSet forecast earnings of 77 cents per share on revenue of $1.77 billion. Vulcan Materials — Shares of Vulcan Materials rose more than 2% after the building materials company reported better-than-expected fourth-quarter earnings. On an adjusted basis, Vulcan earned $1.46 per share, while analysts polled by FactSet expected $1.40. Toast — Shares soared nearly 8% in premarket trading after fourth-quarter results beat Wall Street expectations for revenue and profit. The company also announced plans for a $250 million stock buyback and said it planned to lay off 550 employees. Applied Materials – The semiconductor production equipment company’s first-quarter results exceeded consensus expectations and issued higher-than-expected second-quarter revenue guidance, sending its stock price up about 12%. Applied Materials expects second-quarter revenue of about $6.5 billion, while analysts polled by FactSet estimated $6.34 billion. Roku — The streaming service reported a fourth-quarter loss of 55 cents per share, beating estimates and sending its shares down 17%. Analysts polled by LSEG (formerly Refinitiv) forecast a loss of 52 cents per share. Roku issued an upbeat first-quarter revenue forecast that topped analysts’ expectations. Trade Desk — Shares of the company soared more than 18% after the company beat fourth-quarter revenue estimates and issued higher-than-expected first-quarter guidance. The company expects sales to reach $478 million, exceeding LSEG’s forecast of $452 million. DraftKings — The sports betting company missed fourth-quarter revenue and profits, sending its shares down 1%. DraftKings reported a loss of 10 cents a share, while analysts polled by LSEG estimated a profit of 8 cents a share. Revenue was $1.23 billion, slightly below the consensus estimate of $1.24 billion. DoorDash — The food delivery company reported a fourth-quarter loss that exceeded analysts’ expectations, sending shares down nearly 8%. DoorDash reported a loss of 39 cents per share, while analysts polled by LSEG expected a loss of 16 cents per share. The company beat revenue expectations and authorized a $1.1 billion stock buyback program. Coinbase — The crypto brokerage surged 15% after unexpected fourth-quarter profits. Coinbase’s revenue in the final three months of 2023 was $954 million, with earnings per share of $1.04. Analysts polled by London Stock Exchange Group (LSEG) expected a loss of 1 cent per share on revenue of $822 million. Super Micro Computer – Shares rose more than 6%. Wells Fargo initiated an equal-weight rating on the information technology stock and said AMD’s artificial intelligence momentum will continue, although its expected upside may already be priced in. The rating comes a day after Bank of America first rated Super Micro. Popular stock with a Buy rating and $1,040 price target. Shares are up 253% this year. Thursday’s closing price was $1,004.00. Wayfair — Shares of the online furniture retailer rose 4.7% as Raymond James upgraded its market profile to strong buy. Wayfair should be nearing a bottom in demand and cost cutting should help its cash flow, the company said. —CNBC’s Sarah Min, Michelle Fox, Jesse Pond and Alex Harling contributed reporting.
