Check out which companies are making headlines in pre-market trading. Nvidia – The closely watched chip giant's stock rose 13% in premarket trading after earnings released Wednesday afternoon beat previous expectations amid the artificial intelligence boom. Nvidia earned $5.16 per share on an adjusted basis and $22.1 billion in revenue for the fourth quarter, while analysts surveyed by LSEG expected $4.64 per share and $20.62 billion. The company also said revenue in the current quarter will be stronger than Wall Street expected. Moderna – Shares rose more than 5% after the vaccine maker reported larger-than-expected fourth-quarter revenue. The company's top line was $2.81 billion, while analysts surveyed by LSEG expected revenue of $2.50 billion. Moderna also reported a surprise profit, helped in part by deferred revenue that came despite declining Covid vaccine sales. Lucid – Shares fell more than 7% after the luxury electric car company missed revenue estimates in the fourth quarter. Specifically, Lucid reported $157 million, while analysts expected $180 million, per LSEG. Cantor Fitzgerald downgraded Lucid to underweight from neutral earlier Thursday, according to Street Account. Etsy — Shares lost 8.6% in premarket trading on Thursday, the morning after the online marketplace reported a mixed fourth quarter. While revenue beat Wall Street expectations, the company saw 62 cents in earnings per share, below the 78 cents expected from analysts surveyed by LSEG. Rivian – Shares fell 17% a day after the electric car maker announced it saw larger-than-expected losses and cut 10% of staff. Although revenue came in higher than analysts expected, Rivian said it had a loss of $1.36 per share, 4 cents larger than the consensus estimates of analysts polled by LSEG. The company also said it expects to produce fewer cars than expected. Synopsys – Shares rose 4.5% a day after the software company released better-than-expected earnings for the fiscal first quarter and strong earnings in the current quarter. Synopsys reported $3.56 per share, excluding items, in earnings, beating LSEG's consensus forecast of $3.43 per share. DoorDash – The food delivery stock rose nearly 5% on the back of an upgrade to overweight from equal weight by Morgan Stanley. The company said the stock is at an attractive entry point and has a long growth trajectory. ROOT — Shares rose 28% after auto insurance stocks reported a fourth-quarter loss of $1.64 per share, less than the $2.84 that analysts surveyed by FactSet had expected. The company's fourth-quarter revenue of $194.8 million was also higher than the $132.5 million that was expected. Following the earnings release, Cantor Fitzgerald upgraded the stock to an Overweight rating from Neutral. Remitly Global – Shares rose 22.4% after the financial services provider's earnings report. While Remitly saw a loss per share while analysts expected a small gain, the company beat revenue expectations and provided better-than-expected guidance on action for the full year. BMO Capital Markets upgraded the stock to Outperform Market. Novavax – Shares rose 9.6% after the biotech company said it would settle an arbitration dispute with Gavi, a global vaccine non-governmental organization. The dispute centered on canceling the agreement to purchase Covid vaccines. Coty – Shares jumped 3% after TD Cowen upgraded the beauty company to outperform the market, citing momentum in the fragrance category. Analyst Oliver Chen raised his price target to $16 from $13, suggesting an upside of more than 26% from Wednesday's close of $12.64. ASML Holding – The semiconductor stock jumped 3.9% after HSBC initiated coverage as a buy. The company said the 2025 estimates and stock price could have an upside if the industry sees an upward cycle. Gates Industrial – The manufacturer added 4.8% on the back of a KeyBanc upgrade to overweight the sector. KeyBanc said the stock price became excessively discounted as private equity exited its stake. — CNBC's Brian Evans, Lisa Kailay Hahn, Fred Imbert and Sarah Main contributed reporting.
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