Check out the companies making headlines before the bell:
kings (DKNG) – DraftKings is down 12.5% in pre-market trading despite reporting smaller-than-expected quarterly losses and revenue that beat Wall Street expectations. The sports betting company also raised its revenue guidance and warned that a prolonged economic downturn could affect its customers’ spending.
cinmark (CNK) — The movie theater operator’s stock rose 6.5% after reporting better-than-expected quarterly revenue, although its loss was larger than analysts had expected.
Hershey (HSY) — Hershey’s rose 1% in the primary market after quarterly results beat estimates and the candy and chocolate maker raised its sales and profit forecasts. Hershey’s improved look indicates strong Halloween candy sales.
Chinese stocks – Shares of China-based companies that trade in the US rose in out-of-hours trading on reports that China will ease its strict Covid-19 protocols. Ali Baba (BABA) jumped 9.7%, JD.com earned (dinars) 9.3%, Bindudu (PDD) added 8.8% and Bilibili (BILI) jumped 14.4%.
Starbucks (SBUX) — Shares of Starbucks rose 4.6% in the primary market after the coffee chain reported better-than-expected earnings and revenue for the fourth quarter as sales hit a record. Starbucks said its investments in new equipment and higher wages for workers are paying off.
DoorDash (Dash) — DoorDash stock is up 11.9% in premarket trading on record orders and better-than-expected revenue, although its quarterly loss was larger than expected. Customers continue to spend on food delivery even in the face of rising prices.
Twilio (TWLO) — The manufacturer of customer interaction software saw its inventory decline 25.1% in pre-market activity after a weaker-than-expected sales forecast. Expectations were overshadowed by a lower-than-expected quarterly loss and more-than-estimated revenue.
Expedia (EXPE) — Expedia reported quarterly profit that came in just below Wall Street expectations, but revenue beat estimates and topped $1 billion for the first time due to strong travel demand. Expedia gained 3.5% in the primary market.
PayPal (PYPL) – PayPal shares fell 6.9% in the primary market despite better-than-expected quarterly earnings and payment service operator revenue. Investors focus on PayPal’s lower annual revenue growth forecast, as the company has been cautious about the impact of an economic slowdown.
Queen Bees (COIN) – Coinbase jumped 6.5% in pre-market trading, although it reported larger-than-expected losses and returns that fell short of analyst expectations. The cryptocurrency exchange operator has also seen a rise in interest income and is making progress in diversifying its revenue streams.
roadblock (SQ) — Stocks full jumped 14% in pre-market activity after it reported quarterly revenue and earnings that beat Wall Street expectations. Subscription-based revenue for the payment service operator jumped 71% over last year.
Discover Warner Bros. (WBD) – Warner Bros. announced. Discovery reported a larger-than-expected fourth-quarter loss, and revenue was lower than analysts’ estimates. Separately, Bloomberg reported that the media company plans to cut jobs in the Warner Bros. film unit. The stock fell 3.3% in pre-market activity.
Carvana (CVNA) — Carvana fell 7.4% in pre-market trading after the used-car dealership reported worse-than-expected quarterly results. Increasing car prices and rising interest rates were the main factors in the decline in demand.
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