Tuesday, May 21, 2024
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The Most Volatile Stocks Before Market

Before the bell, take a look at the businesses that are in the news.

Automotive Rivian — After raising its production estimate for the entire year by 2,000 units, to 54,000, and reporting a lower-than-expected loss in the most recent quarter, the maker of electric vehicles surged 8.8% in early Wednesday trading.

eBay – After providing flimsy revenue projections for the current quarter and the entire year, the online marketplace’s shares fell 6.8%. In terms of sales for the quarter, eBay met the consensus LSEG forecast, but its third-quarter earnings per share topped analyst estimates.

Lyft – The ridesharing company’s shares increased 2.9% ahead of its earnings, which are scheduled to be released after market on Wednesday. According to FactSet’s StreetAccount survey of analysts, Lyft’s previous guidance predicted revenue would be between $1.13 billion and $1.15 billion, while analysts expect 15 cents per share on revenue of $1.14 billion.

Goldman Sachs upgraded Quanta to buy, citing a beaten-down stock and an opportunity for investors given the need for ongoing utility investment in power grid modernization. Shares of the electric power contractor, Quanta Services, closed 1.8% higher.

Markets for Robinhood — Following Robinhood’s release of its underwhelming third-quarter sales, shares fell 9%. According to LSEG, previously Refinitiv, the trading platform reported revenue of $467 million, which was less than the $478 million consensus projection.

Discoveries from Warner Bros. According to FactSet, the owner of HBO and The Food Network experienced a 0.5% premarket loss when sales and adjusted EBITDA for Studios and Networks failed to meet analyst estimates across three critical metrics: Studios, Network, and Direct-to-Consumer.

Source (CNBC)

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