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.
“Web maven. Infuriatingly humble beer geek. Bacon fanatic. Typical creator. Music expert.”
More Stories
Bank of Japan decision, China PMI, Samsung earnings
Dow Jones Futures: Microsoft, MetaEngs Outperform; Robinhood Dives, Cryptocurrency Plays Slip
Strategist explains why investors should buy Mag 7 ‘now’