These stocks moved most in premarket: Oracle, Uber, Pearson, and others
Take a look at the companies making headlines before the bell:
(ORCL) – The business software giant’s shares fell 2.3% in the premarket after its adjusted quarterly profit of $1.13 per share fell 5 cents shy of estimates. Revenue was in line with forecasts. Oracle continues to see progress in shifting its customers to the cloud, with cloud revenue jumping 24% compared with a year ago.
2. Uber Technologies
(UBER) – The ride-hailing company’s shares rose 1.6% in premarket action after Deutsche Bank initiated coverage with a “buy” rating and a $50 price target. Deutsche Bank points to Uber’s leading position in a fast-growing market as well as an attractive entry point for the stock.
(PSO) – The education publisher’s stock spiked 20.1% in premarket trading after private equity firm Apollo said it was in the preliminary stages of evaluating a possible cash offer for Pearson. Apollo said there was no certainty an actual offer would be made.
(RIVN) – Rivian shares fell 8.5% in premarket action after the electric vehicle maker reported a wider than expected loss, and said supply chain issues would limit its factory output this year.
5. DiDi Global
(DIDI) – DiDi shares plunged 12.7% in the premarket following a Bloomberg report that the ride-hailing company was suspending plans to list its shares in Hong Kong. People familiar with the matter said Didi failed to meet demands by China regulators that it overhaul its handling of sensitive user data.
6. Toyota Motor
(TM) – Toyota slipped 1.7% in the premarket after saying it would cut production by up to 20% in April, May and June as it seeks to ease the strain on its suppliers, who are struggling to provide computer chips and other parts.
(DOCU) – The electronic signature company reported adjusted quarterly earnings of 48 cents per share, 1 cent above estimates, with revenue also coming in above Street forecasts. However, the shares tumbled 17.5% in the premarket after DocuSign issued weaker-than-expected guidance for the full year.
8. Ulta Beauty
(ULTA) – The cosmetics retailer’s stock rose 2.6% in the premarket after reporting better-than-expected profit and revenue for its latest quarter. Comparable-store sales also beat forecasts with a 21.4% increase, and Ulta announced a new $2 billion share buyback.
9. Blink Charging
(BLNK) – The maker of EV charging equipment reported a wider-than-expected quarterly loss even as sales beat analyst estimates. The company said it continues to see strong momentum as the business community and government agencies continue to promote the benefits of a reliable EV infrastructure. Blink’s shares slid 6.1% in premarket trading.
(ZUMZ) – The streetwear and action sports apparel maker saw its shares plummet 14.1% in premarket action after its quarterly earnings and revenue fell short of Wall Street forecasts. Current quarter guidance was also shy of estimates.