US Premarket: Wendy's, Coinbase and other stocks making biggest moves
- Wendy’s shares fell 3.4% in premarket trading
- Unity Software released weaker than expected revenue guidance
- Coinbase plunged reported a loss of $1.98 per share for its latest quarter
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.
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.
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 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.
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 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.
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.