In premarket trading, several companies experienced significant movements in their stock prices due to their quarterly earnings reports. Planet Fitness saw a 7% drop in shares after reporting lower-than-expected revenue for the first quarter and issuing disappointing guidance for the year. Robinhood, on the other hand, saw a rise of more than 5% after reporting record earnings for the quarter. Warner Bros. Discovery faced a decline of 4% after reporting a larger-than-expected loss for the quarter. Yeti, the drinkware maker, surged 12% after surpassing Wall Street expectations for the quarter and raising its full-year guidance. British chip designer Arm saw a 7% drop in shares despite posting better-than-expected results due to falling slightly below revenue estimates for the year. Klaviyo, a marketing automation company, saw a 9% increase in shares following a strong quarterly report.
Airbnb’s shares declined over 7% after the vacation rental company offered disappointing revenue guidance for the current quarter, despite beating expectations in the first quarter. AppLovin, a mobile technology company, experienced a 15% increase in shares after reporting better-than-expected earnings and revenue. SolarEdge, an energy company, saw shares drop over 8% after posting a wider-than-expected loss for the first quarter, despite beating revenue expectations. AMC Entertainment’s shares fell 4% after reporting declining revenue and attendance in the first quarter. Language-learning app Duolingo saw a 14% decrease in shares following lower-than-expected revenue guidance for the second quarter. Bumble, the dating app company, saw an 11% jump in shares after reporting strong earnings and revenue. Krispy Kreme’s shares rose 2% after reporting higher-than-expected revenue for the first quarter. Warby Parker saw a 14% increase in shares after reporting stronger-than-expected earnings for the quarter.
Tapestry, the parent company of Coach, saw a 3% decline in shares after reporting revenue slightly below expectations and cutting its full-year revenue estimate. Roblox’s shares tanked over 28% after the video game developer posted first-quarter bookings below Wall Street estimates and lowered its annual forecast. Forward Air, a logistics provider, slumped 36% premarket due to challenging market conditions, including weak freight demand, excess carrier capacity, and pricing pressure. The company reported an adjusted loss in the first quarter that was worse than expected.Overall, the premarket movements of these companies reflect a mixed bag of earnings results and guidance, with some companies exceeding expectations and others falling short. Investors will be closely monitoring these companies as they navigate the challenges and opportunities in their respective industries.
