Check out the companies making the biggest moves in premarket trading: Beyond Meat — Shares soared 59% one day after the plant-based meat company topped fourth-quarter revenue estimates and said it would “steeply reduce” costs this year. Revenue came in at $73.7 million, versus the $66.7 million expected from analysts polled by LSEG. Bumble — Shares plunged almost 12% after the dating app company on Tuesday announced plans to lay off about 350 employees and gave a disappointing revenue forecast as part of its fourth-quarter earnings. Bumble posted $273.6 million in revenue in the latest quarter, higher than the $241.6 million in the same period last year, and lost 19 cents per share, compared to a loss of 35 cents per share in the year-ago quarter. Bumble also set plans to revamp its app in an effort to attract more users. Advance Auto Parts —Shares gained 7% after the auto parts retailer gave upbeat guidance for the full year. AAP guided for 2024 earnings per share of $3.75 to $4.25, topping the $3.65 expected from analysts polled by FactSet. Fourth-quarter revenue matched estimates, while earnings missed expectations. EBay — The online marketplace advanced 5% one day it beat fourth-quarter earnings and revenue estimates . Guidance for first-quarter earnings per share also topped expectations. In addition, Ebay announced a dividend increase and authorized another $2 billion share buyback. Baidu — U.S.-listed shares of the Chinese internet company fell 2% after fourth quarter adjusted EBITDA trailed analyst estimates and revenue missed expectations, according to FactSet’s StreetAccount. First Solar — Shares popped nearly 7% one day after reporting an earning beat for the fourth quarter. Earnings per share came in at $3.25 versus a consensus estimate of $3.13, according to LSEG. First Solar’s full-year guidance matched expectations. Lemonade — The stock sank 15.5% one day after the insurance company gave disappointing guidance for the first quarter…
2024-02-28 08:33:00
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