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, formerly known as Refinitiv. 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 after 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 earnings before interest, taxes, depreciation and amortization trailed analysts' estimates and revenue missed expectations, according to FactSet's StreetAccount. First Solar — Shares popped nearly 7% one day after reporting an earnings 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 and full year. While fourth-quarter adjusted EBITDA and revenue topped expectations, Lemonade guided for first-quarter revenue between $111 million and $113 million, less than the $119.8 million estimated by analysts polled by FactSet. Full-year revenue guidance of $505 million to $510 million was below the $520.9 million consensus estimate. Revolve Group — Shares added 3% after the online fashion retailer's fourth-quarter earnings and revenue beat analysts' estimates. Revolve posted adjusted EBITDA of $8.5 million on revenue of $257.8 million, higher than the $3.4 million EBITDA on revenue of $246.2 million that analysts had expected, according to FactSet. Applied Materials — The stock slipped 2% after the chipmaker disclosed it received subpoenas from the U.S. Securities and Exchange Commission and U.S. Attorney's Office regarding shipments to China customers. Applied Materials said it's cooperating fully. Viatris — The pharma company dropped 2% after reporting disappointing revenue for the fourth quarter. Viatris revenue of $3.83 billion missed the $3.89 billion expected from analysts polled by FactSet. Adjusted net income also came in lower than estimates. Ambarella — The semiconductor maker rallied about 9% after it posted a smaller-than-expected loss of 24 cents a share in the latest quarter and revenue that matched analysts' estimates. Revenue guidance for the first quarter was roughly in line with Wall Street estimates. TJX Companies — Shares rose 2% after the T.J. Maxx and Marshalls parent registered stronger-than-expected quarterly revenue . Fourth-quarter revenue of $16.41 billion topped the $16.20 billion estimated by analysts polled by FactSet, while earnings per share of $1.12 met estimates. TJX said same-store sales rose 5% in the fourth quarter, above its own estimate, and “entirely driven by an increase in customer transactions.” Urban Outfitters — Shares tumbled nearly 10% one day after the clothing retailer's fourth-quarter earnings and revenue missed estimates. Earnings per share came in at 69 cents versus the consensus estimate of 74 cents, according to FactSet. Revenue of $1.49 billion was below the $1.5 billion expected. Crypto stocks — Shares of cryptocurrency-connected stocks jumped as bitcoin surged above $60,000. Coinbase climbed 6% and CleanSpark gained 8%. Microstrategy , which bought another 3,000 bitcoin on Monday, jumped 9%. — CNBC's Sarah Min, Lisa Han, Jesse Pound, Pia Singh and Samantha Subin contributed reporting.
News RelatedStocks making the biggest premarket moves: Beyond Meat, Bumble, Advance Auto Parts, Baidu and more
News Related