Check out the companies that made headlines before the bell: Lyft — Shares rose 21% after the ride-hailing company reported better-than-expected fourth-quarter results and issued better-than-expected guidance. In its most recent quarter, Lyft posted adjusted earnings of 18 cents per share, beating the LSEG consensus estimate of 8 cents per share. Sales were $1.22 billion, in line with analyst expectations. However, Lyft stock has fallen from Tuesday’s post-market high as the company revised an overstatement of its profit margin forecast that had been included in its initial press release. Robinhood Markets — Robinhood stock soared about 16.5% after the investment platform reported fourth-quarter earnings and sales. Robinhood reported earnings of 3 cents per share on sales of $471 million, while analysts surveyed by LSEG had expected a loss of 1 cent per share on sales of $457 million. ANGI — Shares rose 7% after the home services platform reported a narrower-than-expected quarterly loss. Angi’s fourth-quarter loss was 1 cent per share, smaller than the 2 cent per share loss expected by analysts surveyed by FactSet. Meanwhile, revenue was $300.4 million, below the FactSet consensus estimate of $309.9 million. DaVita — Shares rose more than 7% after the healthcare company reported fourth-quarter earnings and sales. DaVita reported adjusted earnings per share of $1.87 on revenue of $3.15 billion. Analysts polled by FactSet had expected earnings of $1.63 per share and revenue of $3.01 billion. Zillow Group — Shares rose more than 5% premarket after Real Estate posted revenue of $474 million and earnings of 20 cents per share, according to LSEG, which exceeded analysts’ expectations for revenue of $400 million. 52 million, on revenue of $452 million. Kraft Heinz — Shares fell more than 1% after the food company reported lower-than-expected fourth-quarter sales. Kraft Heinz reported revenue of $6.86 billion, below the LSEG consensus estimate of $6.99 billion. However, adjusted earnings of 78 cents per share were slightly higher than analysts’ expectations of 77 cents per share. Akamai Technologies — Shares fell 5.4% after the server network provider’s fourth-quarter revenue fell short of analysts’ expectations. Akamai reported $995 million, compared to the $998 million expected by analysts surveyed by LSEG. Nevertheless, the company reported pre-item earnings of $1.69 per share, beating Wall Street’s expectations of $1.60 per share. Akamai also released guidance for the quarter and full year that was broadly in line with analyst expectations. GoDaddy — The web hosting company’s stock fell about 2% even though its fourth-quarter report showed revenue in line with expectations. GoDaddy reported revenue of $1.1 billion, in line with expectations from analysts surveyed by FactSet. However, the company’s 2024 revenue estimate of $4.48 billion to $4.56 billion was near the lower end of its average estimate of $4.55 billion. SentinelOne — Cybersecurity stocks surged 6.2% in premarket trading on the back of Bank of America’s upgrade from neutral to buy. The company said SentinelOne sees positive momentum from strong industry and macro trends. Cryptocurrency Stocks — Stocks whose performance is tied to Bitcoin’s price soared after Bitcoin rose to his highest price in more than two years and regained a $1 trillion market cap. Trading platform Coinbase and Bitcoin proxy MicroStrategy each rose 7%. Miners Iris Energy and CleanSpark rose 17% and 14%, respectively, Marathon Digital rose 12% and Riot Platforms rose 9%. Airbnb — The vacation real estate rental stock fell 4% despite delivering better-than-expected revenue and an optimistic outlook. Airbnb warned that tough comparisons would put pressure on the number of nights booked in the first quarter. Upstart — LSEG said the online lender saw its stock fall 14% after reporting an adjusted loss of 11 cents per share in the fourth quarter, a loss that was less than analysts had expected. The loss was down 14 cents per dollar. Revenue for the quarter was $140 million, beating analysts’ expectations of $135 million. Wingstop — Shares rose nearly 3% after Bernstein initiated outperform coverage on the restaurant stock, labeling the company as a “multi-decades-long growth” story. MGM Resorts International — Shares fell more than 3% of his time even though the casino operator beat expectations for fourth-quarter revenue and bottom line profits. MGM’s China business exceeded expectations, but its U.S. casino business was hurt by the Detroit labor strike. Topgolf Callaway Brands — Shares fell more than 3% after the golf company released a lower-than-expected first-quarter earnings outlook. Top Golf Callaway Brands expects first quarter sales to be $1.16 billion from $1.14 billion. Analysts polled by LSEG had expected $1.22 billion. Ecolab — the food safety company’s stock fell 1.6% in his. JPMorgan downgraded Ecolab from Overweight to Neutral, citing the stock’s recent outperformance. This year, it has increased by more than 11%. However, the Wall Street firm raised its price target to $220 from $200. Ecolab stock closed Tuesday at $221.18. —CNBC’s Brian Evans, Alex Harring, Tanaya Machel, Jesse Pound, Pia Singh and Samantha Subin contributed reporting.
Lyft, Robinhood, Zillow, Kraft Heinz, etc.
