Stock Market

In this article

Beyond Meat “Beyond Burger” patties made from plant-based substitutes for meat products sit on a shelf for sale in New York City.
Angela Weiss | AFP | Getty Images

Check out the companies making headlines before the bell:

Beyond Meat — Shares jumped 12% after Beyond Meat reported a smaller-than-expected loss in its fourth quarter, even with sales falling more than 20%. The meat-alternative company reported a loss per share of $1.05, lower than the expected $1.18, according to Refinitiv. It posted revenue of $79.9 million, more than the $75.7 million expected.

Block — Shares of the payments giant rose more than 6% in early morning trading after the company reported better-than-expected revenue for the fourth quarter and strong growth in gross profit.

Carvana — The used-car retailer sank 5.8% after posting a fourth-quarter loss of $7.61 per share, greater than the forecasted loss of $2.28 per share, according to consensus estimates from Refinitiv. Revenue came in at $2.84 billion, a 24% drop from the fourth quarter of 2021 and lower than analysts’ expectations of $3.1 billion.

Sweetgreen — Shares of the salad chain shed about 10% after Sweetgreen issued weaker-than-expected revenue guidance for the first quarter and full year, according to Refinitiv. Fourth-quarter revenue also fell short. Higher menu prices and fewer transactions hurt the firm, as did romaine, arugula and tomato shortages.

Adobe — Shares fell more than 3% after a Bloomberg report, citing an unnamed source, said the U.S. Justice Department is planning to block the company’s $20 billion acquisition of startup Figma in a lawsuit.

MercadoLibre — MercadoLibre jumped 5% after the South American e-commerce firm reported fourth-quarter earnings of $3.25 per share on revenue of $3 billion. Analysts surveyed by FactSet were anticipating earnings of $2.42 per share and revenue of $2.96 billion.

Boeing — Shares of the industrial giant dropped more than 2% in premarket trading after the company said it has temporarily halted deliveries of its 787 Dreamliners so it can do additional analysis on a fuselage component. The planes, which are often used for long-haul international routes, have suffered several issues for several years.

EOG Resources — EOG Resources slid 3.6% after the energy company reported fourth-quarter earnings, excluding items, that were short of analysts’ expectations, according to FactSet. The company beat on revenue, however.

Warner Bros. Discovery — The stock fell 4% after Warner Bros. Discovery posted disappointing results in its latest quarter. The media and entertainment conglomerate reported a loss of 86 cents per share on revenue of $11.01 billion. Analysts polled by Refinitiv called for a loss of 21 cents per share on revenue of $11.36 billion.

Autodesk — Shares dropped more than 4% after Autodesk issued soft guidance on first-quarter earnings. Otherwise, the software company beat fourth-quarter expectations on the top and bottom lines, according to Refinitiv.

— CNBC’s Michelle Fox, Yun Li and Tanaya Macheel contributed reporting

Articles You May Like

Chinese EVs leave other carmakers with only bad options
Harris takes unexpected poll lead over Trump in Republican-leaning Iowa
Trump and Harris both head to Pennsylvania in campaign’s final leg
Sick man of Europe? Germany’s bosses sound alarm on staff illness
Warren Buffett continued to sell down his Apple stake, cutting about a quarter in the third period