During Market hours Yesterday (Wednesday – 11.05.2022)

  • Unity Software (Symbol: U) — The stock plunged 37% after the video game software company posted revenue below expectations. Unity Software reported $320 million in revenue in the first quarter, while analysts surveyed by Refinitiv expected $322 million.
  • Coinbase (Symbol: COIN) — Shares sank 26.4% after Coinbase reported first-quarter revenue below expectations. Coinbase posted revenue of $1.17 billion versus the Refinitiv consensus estimate of $1.48 billion. The company said lower crypto asset prices and market volatility impacted first-quarter results.
  • Electronic Arts (Symbol: EA) — The video game publisher’s shares jumped 8% after the company posted its recent earnings and announced it will end its partnership with FIFA. MoffettNathanson analysts recommended shares of Electronic Arts because of the company’s stable foundation to weather market volatility ahead.
  • Roblox (Symbol: RBLX) —  Shares of the online gaming platform jumped 3.4% despite weaker-than-expected quarterly results. Roblox reported a loss of 27 cents in its most recent quarter, compared with a loss of 21 cents expected by analysts polled by Refinitiv. Revenue came in at $631.2 million, compared with the $645 million consensus estimate from Refinitiv.
  • Wendy’s (Symbol: WEN) — The fast-food chain’s shares sank 11.2% after Wendy’s missed first-quarter estimates on the top and bottom lines. The company reported an adjusted 17 cents in per-share earnings on $489 million of revenue. Analysts surveyed by Refinitiv had penciled in 18 cents per share on $497 million of revenue. U.S. sales growth was just 2.4% despite a rising number of total restaurants, and the margins at company-operated restaurants declined.
  • The RealReal (Symbol: REAL) — Shares of the secondhand luxury seller dropped 22% after the company reported a wider-than-expected loss for its most recent quarter. The RealReal said it’s poised to benefit from rising prices that could be reflected in the prices of new luxury goods.
  • H&R Block (Symbol: HRB) — The tax prep company saw shares jump 19.5% after reporting better-than-expected earnings and revenue for the most recent quarter and issued positive financial guidance on upbeat results from tax season.

During Premarket hours today (Thursday – 12.05.2022)

  • WeWork (Symbol: WE) – WeWork shares surged 9.8% in the premarket following the release of its quarterly results. The office-sharing company reported revenue that exceeded its prior guidance, plus a quarterly loss that was 37% lower than in the prior quarter, as well as its best gross sales since the first quarter of 2020.
  • Sonos (Symbol: SONO) – The maker of high-end audio products saw its stock rally 6.8% in the premarket following its quarterly results. Sonos saw better than expected revenue amid continued high demand, although it did say growth might be impacted by ongoing supply chain issues.
  • Beyond Meat (Symbol: BYND) – Beyond Meat shares plummeted 26.3% in the premarket, as the maker of plant-based meat alternatives reports a larger than expected quarterly loss and revenue which fell shy of analyst estimates. CEO Ethan Brown said the company’s results were impacted by costs associated with strategic launches that he said would pay off over the long term.
  • Lordstown Motors (Symbol: RIDE) – Lordstown surged 15.9% in the premarket after the electric vehicle company completed a deal to sell various assets to contract manufacturer Foxconn. Lordstown will receive $260 million in proceeds from the deal.

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