Take a look at the companies making headlines before the opening bell.
Spotify: The streaming service stock surged by 7.4% following its report of a rise in Premium subscribers to 236 million in the fourth quarter, surpassing analyst expectations.
Palantir: The data analytics provider saw its shares soar over 18% after reporting revenue of $608.4 million for the quarter, exceeding analyst estimates.
Eli Lilly: The pharmaceutical company’s shares rose by 4% after beating analyst estimates for the fourth quarter, driven by the successful launch of its weight loss drug and increased prices for its diabetes medication.
Tesla: The electric vehicle company dipped 2.3% after being downgraded by Daiwa due to concerns about governance and leadership changes.
UBS: Shares dropped 4.1% after the bank reported a quarterly loss, though it plans to reinstate share repurchases later in the year.
BP: The oil giant’s stock price climbed over 5% after increasing buybacks and dividends, despite a decline in annual profit.
NXP Semiconductors: Chipmaker’s shares rose 3% after reporting better-than-expected fourth-quarter results, with adjusted earnings and revenue beating analyst forecasts.
Li Auto: Shares of the Chinese EV maker surged 8.6% after receiving an upgrade from Deutsche Bank and positive remarks on its management team and performance.
Chegg: The educational tech company’s stock fell 7.5% after providing lower-than-expected guidance for the first quarter.
Rambus: The chipmaker’s shares declined by 9.9% following a year-over-year revenue drop in the fourth quarter.
Coherent: The materials company’s shares jumped 13% after posting stronger-than-expected quarterly results, surpassing analyst earnings and revenue estimates.
Source (CNBC)
