US Premarket: Wendy’s, Coinbase and other stocks making biggest moves

Wendy’s (WEN)

Wendy’s shares fell 3.4% in premarket trading after it
reported an adjusted profit of 17 cents per share, 1 cent below estimates, with
revenue and same-store sales also missing analysts’ estimates. The restaurant
chain’s results were impacted by higher costs of supplies and labour.

Also Read | How Elon Musk’s Starlink is fighting Putin in Ukraine

Coinbase (COIN)

Coinbase plunged 14.4% in premarket action after it
reported a loss of $1.98 per share for its latest quarter, compared to
consensus forecasts of 18 cents per share profit. Coinbase cited a decline in
users amid an ongoing slump in the crypto market.

Also Read | Why West Virginia, Nebraska primary elections were bittersweet for Donald Trump

Unity Software (U)

Unity Software trembled 23% in the premarket trading
after the video game software developer released weaker than expected revenue
guidance. It reported losses that were in line with expectations, but its sales
were below consensus estimates.

Perrigo (PRGO)

Perrigo slid 4.1% in premarket action after reporting an
adjusted profit of 33 cents per share, 42 cents below the consensus estimate.
However, the over-the-counter drug maker’s revenue beat estimates and raised
its full-year guidance after acquiring the consumer health care company HRA
Pharma earlier this month.

Also Read | GOP’s Jim Pillen to face Carol Blood in Nebraska’s governor race

Krispy Kreme (DNUT)

Shares of Krispy Kreme surged over 1.6% in the premarket
after beating top and bottom-line estimates for its latest quarter The doughnut
chain’s “sales per hub” metric surged 49.2% for international markets and 19.4%
for the US and Canada.

Roblox (RBLX)

Roblox shares fell 1.1% in premarket trading after
reporting a wider than expected loss for its recent quarter and sales below the
street forecasts. The gaming platform company said it expects losses to
continue for the foreseeable future, as expenses rise and as pandemic-induced
demand increase fade.

Also Read | Jack Dorsey says Elon Musk right to revoke Donald Trump’s Twitter ban

Occidental Petroleum (OXY)

Occidental Petroleum grew 1.3% in premarket action after
an earnings beat for its latest quarter, supported by surging oil prices.
Occidental is the top gainer among S&P 500 stocks, having more than doubled
this year.