Several companies are making headlines in premarket trading, with Rivian Automotive seeing its stock jump more than 6% after reporting a first-quarter loss that was narrower than expected. The electric vehicle maker also said it’s still on-track to meet a 50,000-vehicle production target for 2023. Meanwhile, Airbnb shares dropped 13.3% after the vacation booking platform gave a weak outlook for the second quarter, citing year-over-year comparables. However, Airbnb still beat expectations on both lines for quarterly earnings.
The stock of software company Twilio slid 16% in premarket trading after its revenue forecast came in weaker than expected; the company said it was expecting between $980 million and $990 million in revenue for the second quarter, while analysts surveyed by Refinitiv were looking for $1.05 billion. Dutch Bros shares tumbled 7.6% after the company reported same-store sales and revenue for the first quarter that came in under expectations; however, the company did break even for the quarter, beating expectations on earnings per share.
Celsius Holdings jumped 11.1% in response to a strong earnings report that posted 40 cents in earnings per share for Q1, more than double the 19-cent consensus estimate of analysts polled by StreetAccount, while revenue also came in well ahead of analyst expectations. Bank of America upgraded shares to buy from neutral as a result. Conversely, Virgin Galactic saw its shares fall more than 4.5% after reporting a widened quarterly loss from the same period a year ago, though they aim to fly their first spaceflight in nearly two years later this month.
GoodRx lost 8.3% with weaker-than-expected guidance for current-quarter and full-year revenue, despite beating expectations for revenue in the first quarter. On the other hand, Alcon stock popped 5.1% after beating expectations on the top and bottom lines in the first quarter. Rockwell Automation slid 2.8% after the Biden administration began investigating whether the industrial technology company exposed U.S. military, infrastructure, and government assets in a cyberattack through one of its facilities in China, while Halozyme Therapeutics shares rose 1.9% after the company reaffirmed full-year earnings guidance, helping investors overlook a miss on revenue in the first quarter.
Shares of the digital healthcare platform Affirm dipped 5.7% even after the company reported better-than-expected quarterly results a day earlier, with an adjusted loss per share of 69 cents. Akamai Technologies, the cloud company, saw its shares rise nearly 5% after better-than-expected earnings and revenue for the first quarter; the company also raised its full-year profit guidance. Finally, Occidental Petroleum shares declined 1.5% after the company’s quarterly earnings missed Wall Street’s expectations, also reporting a year-over-year decline in earnings as oil prices fell.
