Here are the companies making headlines before the bell:
1. JetBlue Airways – The airline’s shares surged over 15% after activist investor Carl Icahn disclosed a 10% stake in the company, believing it to be undervalued.
2. Arista Networks – Despite beating fourth-quarter estimates, the computer networking stock dropped more than 7% as its first-quarter revenue expectations fell slightly below Wall Street forecasts.
3. Tripadvisor – Shares jumped nearly 12% after the formation of a special committee to evaluate potential proposals for a business transaction.
4. Coca-Cola – The beverage giant’s shares remained stable after posting mixed fourth-quarter results, with adjusted earnings meeting expectations and revenue exceeding forecasts.
5. Hasbro – Shares tumbled 9% as the toymaker missed fourth-quarter expectations, citing lower-than-expected earnings and revenue, as well as a weak gross margin and anticipated drop in full-year revenue due to soft consumer product sales.
6. Shopify – Despite reporting a beat on fourth-quarter earnings and revenue, shares dropped over 12% in pre-market trading.
7. Datadog – The software stock declined over 4% after issuing disappointing guidance on adjusted earnings per share for the first quarter and full year.
8. ZoomInfo Technologies – The market intelligence stock soared 15% on strong earnings and a slightly better-than-expected outlook for first-quarter earnings per share.
9. Cadence Design Systems – Shares slumped 8% after the software maker issued weak guidance for the first quarter, despite surpassing fourth-quarter estimates.
10. Lattice Semiconductor – The semiconductor stock fell 7% after posting mixed fourth-quarter results and providing disappointing guidance for the current period.
11. Biogen – The biotechnology company’s stock dropped over 4% following its fourth-quarter results missing Wall Street estimates on earnings and revenue.
12. Restaurant Brands International – Shares of the fast food operator reported strong fourth-quarter financial results, driven by sales growth at its brands such as Tim Hortons, Burger King, and Popeyes, and were unchanged in pre-market trading.
13. Children’s Place – The children’s apparel retailer slumped 12% after BTIG downgraded shares to sell from a neutral rating, based on a highly unfavorable risk/reward analysis and adjusted price targets reflecting more than 75% downside potential.
Source (CNBC)
