Here are the companies making headlines in premarket trading:
Twilio – The consumer engagement company saw its shares drop nearly 11% after issuing lower-than-expected revenue guidance for the current quarter. Additionally, Twilio reported total active consumers for the fourth quarter that fell below Wall Street estimates.
Cisco – Shares of the tech company dropped 4.4% after posting a yearly decline in revenue during the fiscal second quarter. Cisco also provided lighter-than-expected guidance for the fiscal third quarter and announced a downsizing plan that would result in a 5% reduction in jobs.
Coinbase – Shares of the cryptocurrency exchange platform jumped 8% after JPMorgan upgraded the stock to neutral from underweight, citing rising cryptocurrency prices. Bitcoin regained a $1 trillion market cap on Wednesday, reaching a more than two-year high. On Thursday, Bitcoin was trading higher by more than 1%.
Tripadvisor – The online booking company’s shares climbed nearly 5% after beating Wall Street estimates on both the top and bottom lines in the fourth quarter. Tripadvisor reported adjusted earnings of 38 cents per share on revenue of $390 million, surpassing analysts’ expectations.
JFrog – Stock in the software development company surged more than 19% after fourth-quarter results exceeded Wall Street estimates. JFrog reported adjusted earnings of 19 cents per share on $97 million in revenue, beating analyst estimates.
Shake Shack – Shares of the restaurant stock soared nearly 17% after surpassing Wall Street estimates in the fourth quarter. Shake Shack reported adjusted earnings of $0.02 per share on revenue of $286.24 million, outperforming analyst forecasts.
Deere – Shares of the agricultural machinery manufacturer dropped 4% in premarket trading after lowering its full-year net income guidance. Deere expects net income for the full year ending October to be between $7.50 billion and $7.75 billion, lower than previous guidance. CEO John C. May expressed expectations for a moderation in fleet replenishment as agricultural fundamentals normalize.
Super Micro Computer – Shares of the information technology stock gained more than 4% after Bank of America initiated coverage with a buy rating. The firm highlighted Super Micro’s potential as a key beneficiary of artificial intelligence opportunities and a potential partner for peers like Nvidia, AMD, and Intel.
Source (CNBC)
