Take a look at the businesses making headlines earlier than the bell:
Under Armour (UAA) – The athletic attire maker posted an adjusted lack of 1 cent per share within the firm’s transition quarter, in contrast with a revenue estimate of 6 cents per share. The corporate is altering its fiscal 12 months, with the primary quarter of fiscal 2023 starting April 1. Beneath Armour additionally issued a weaker-than-expected outlook for its full-year revenue because it absorbs the influence of upper prices and provide chain disruptions. Beneath Armour plunged 12.5% in premarket buying and selling.
Cigna (CI) – The insurance coverage firm reported an adjusted quarterly revenue of $6.01 per share, in contrast with a $5.18 consensus estimate, and income was additionally above analyst forecasts. Cigna’s outcomes have been boosted by sturdy progress in its pharmacy advantages administration enterprise, amongst different elements.
DraftKings (DKNG) – DraftKings rallied 9.8% in premarket motion following its quarterly outcomes. The sports activities betting agency reported a loss for the quarter however income was higher than anticipated with will increase in month-to-month distinctive paying prospects and common income per buyer. DraftKings additionally raised its full-year income steering.
Shake Shack (SHAK) – Shake Shack fell 2.8% in premarket buying and selling regardless of a narrower-than-expected quarterly loss and income that beat Wall Road forecasts. The restaurant chain issued a lighter-than-expected outlook because it offers with rising prices for beef, rooster and different commodities.
Block (SQ) – Block surged 5% within the premarket, regardless of each revenue and income lacking analyst estimates. The fintech agency’s working earnings exceeded forecasts, and it stated it had not seen any deterioration in shopper spending.
Virgin Galactic (SPCE) – Virgin Galactic slid 4.9% in premarket buying and selling after the corporate stated it will delay the launch of its business area flight service till the primary quarter of 2023, blaming labor and provide chain points. Analysts are additionally involved about Virgin Galactic’s money burn ranges.
DoorDash (DASH) – DoorDash posted a wider-than-expected quarterly loss, however the meals supply service’s income exceeded analyst estimates with complete orders topping the 400 million mark for the primary time. The inventory surged 6% within the premarket.
Peloton (PTON) – Peloton is exploring the sale of a large minority stake within the health gear maker, in accordance with individuals conversant in the matter who spoke to The Wall Road Journal. The stake being mentioned is claimed to be round 15% to twenty%, though there isn’t any assure a deal shall be finalized. Peloton fell 1.8% in premarket buying and selling.
Johnson & Johnson (JNJ) – Johnson & Johnson shares fell 1% within the premarket after the FDA restricted using the corporate’s Covid-19 vaccine, following a research of blood clots in some recipients. The shot will now solely be allowed for sufferers who usually are not medically eligible for different vaccines or the place there are not any alternate options out there.
Zillow Group (ZG) – The actual property web site operator’s shares tumbled 13.9% within the premarket after issuing a weaker-than-expected forecast, citing an unsure actual property setting. Zillow reported better-than-expected revenue and income for its newest quarter.
Live Nation (LYV) – The father or mother of Ticketmaster and different leisure operations reported a smaller-than-expected loss for its newest quarter, with sturdy demand from prospects and advertisers. Reside Nation added 2.2% within the premarket.
CORRECTION: This text has been up to date to right that Beneath Armour reported monetary outcomes from its transition quarter on Friday.