Stocks making the biggest moves premarket: Cigna, Apple, DraftKings, Lyft & more
Check out the companies making the biggest moves premarket:
Cigna — Cigna gained 3% in premarket trading after beating top- and bottom-line estimates for its latest quarter and raising its full-year forecast. Cigna's results got a boost from lower medical costs and strong growth at its health insurance unit.
Warner Bros. Discovery — The media company fell 2.3% in the premarket after it reported a quarterly loss, and its adjusted earnings fell slightly short of expectations. However, its streaming business did turn around previous losses and reported a quarterly profit.
DraftKings — The sports betting company's stock surged 11.6% in the premarket after DraftKings reported significantly higher than expected revenue for its latest quarter and increasing its full-year outlook.
Apple — Apple rose 2.7% in premarket trading after beating quarterly earnings and revenue estimates, with particularly upbeat results for its flagship iPhone. Apple did, however, post its second consecutive quarter of declining revenue for only the 3rd time in the past decade.
Bumble — Bumble posted higher than expected quarterly sales, as user demand for its dating app remained strong. The stock jumped 9.1% in premarket action.
Booking Holdings — Booking's shares fell 3% after the travel services company reported quarterly profit and sales that beat analyst estimates amid strong travel demand, but its adjusted earnings did fall short of analyst forecasts. Booking stock was also trading near all-time highs prior to the report.
Expedia — Expedia rallied 5.6% following its quarterly results, even though the travel website operator reported a larger than expected loss. Expedia did see its highest-ever first quarter revenue, in addition to a 20% leap in gross bookings.
DoorDash — DoorDash posted a premarket gain of 4% following a smaller than expected loss for the food delivery service, as well as quarterly revenue that beat analyst forecasts. DoorDash also raised its full-year guidance, as demand for its services remains strong.
Lyft — Lyft shares plunged 15.4% in off-hours trading as the ride-hailing service issued a weaker than expected forecast for the current quarter. The stock slide comes despite better than expected quarterly results.
Coinbase — Coinbase posted better than expected quarterly results, leading to a 8.1% premarket rally for the cryptocurrency exchange's stock. The gain comes despite a warning from the company of upcoming pressure on its subscription and services revenue.
Source: CNBC
