Take a look at the companies garnering attention before the start of trading.
Unity Software—Stocks plummeted by 15% as the video game developer projected that adjusted EBITDA for the current quarter would fall below analyst estimates. While expectations from FactSet analysts were set at $113 million in EBITDA, Unity Software forecasts a range of $45 million to $50 million.
Workday—Stocks decreased by 5% following the release of the enterprise software firm’s fourth-quarter report. Workday reported adjusted earnings of $1.57 per share, surpassing analysts’ expectations of $1.47 as polled by LSEG. However, its revenue aligned with consensus estimates of $1.92 billion.
Zoom Video—Shares of the communications software company rose by 12% post a strong fiscal fourth-quarter report. Zoom exceeded expectations with adjusted earnings of $1.22 per share and revenue of $1.15 billion, surpassing analysts’ anticipations of $1.15 earnings on $1.13 billion in revenue.
CarGurus—Despite surpassing analyst projections for fourth-quarter earnings and revenue, the stock experienced a 13% decline following weak guidance for the current quarter. CarGurus provided an earnings outlook of 24 to 29 cents per share and revenue between $201 million to $221 million, falling short of the expected 31 cents in earnings and $236 million in revenue by analysts.
Hims & Hers—Stock prices surged by 19% after the telehealth company presented a robust outlook for the current quarter, outperforming analyst forecasts for fourth-quarter earnings and revenue. Hims & Hers reported earnings of 1 cent per share and $247 million in revenue, surpassing the predicted loss of 2 cents per share on $246 million in revenue by LSEG analysts.
Macy’s—Shares of the department store chain dipped by 3% post the release of quarterly revenue slightly below analysts’ estimates at $8.12 billion versus the expected $8.15 billion according to LSEG. Macy’s also projected another year of stagnant sales and reported a 4.2% decline in same-store sales, underperforming analysts’ anticipated 5.8% decline.
Source (CNBC)
