Stocks making the biggest moves premarket: Twitter, SeaWorld, Shopify and more

Check out the companies making headlines before the bell:

Twitter (TWTR) – Twitter rose 1.5% in premarket action after Elon Musk detailed $7.2 billion in financing commitments for his deal to buy the company. An SEC filing shows Oracle co-founder Larry Ellison and investor Ron Baron are among those committing funds.

SeaWorld (SEAS) – The theme park operator’s stock rose 1% in the premarket after it reported a smaller-than-expected quarterly loss and saw revenue exceed estimates as attendance topped pre-pandemic levels

Spirit Airlines (SAVE) – Spirit reported an adjusted quarterly loss of $1.60 per share, wider than the 58-cent loss Wall Street had anticipated, with revenue also below forecasts. Spirit shares lost 1.4% in premarket trading.

Kontoor Brands (KTB) – The company behind the Wrangler and Lee apparel brands beat estimates by 20 cents with adjusted quarterly earnings of $1.43 per share, and revenue also above estimates. Kontoor raised its full-year forecast, although it cut its current-quarter outlook due to Covid lockdowns in China.

Shopify (SHOP) – Shopify plummeted 14.1% in premarket trading after it reported adjusted quarterly earnings of 20 cents per share, well below the 64-cent consensus estimate. The e-commerce platform also gave a cautious outlook as lockdown-inspired growth slows amid the absence of new consumer stimulus money.

Wayfair (W) – The online home goods retailer’s shares tumbled 6.4% in the premarket after it reported an adjusted quarterly loss of $1.96 per share, 40 cents wider than expected, although revenue matched forecasts. Active customer numbers were down 23.4% compared to a year earlier.

Booking Holdings (BKNG) – Booking Holdings surged 10.1% in premarket trading after reporting better-than-expected quarterly profit and revenue driven by a jump in demand for the travel services company. The parent of Priceline and other services earned an adjusted $3.90 per share, well above the 90-cent consensus estimate.

Twilio (TWLO) – Twilio shares added 2.4% in the premarket with the cloud communications company reporting a breakeven quarter, on an adjusted basis. Analysts had expected a loss of 22 cents per share, and revenue also exceeded Wall Street forecasts.

Etsy (ETSY) – Etsy tumbled 12.5% in premarket action despite earnings that matched expectations and better-than-expected revenue for the online marketplace operator. The stock came under pressure after Etsy’s current-quarter guidance was weaker than expected amid a drop in disposable income for consumers.

EBay (EBAY) – eBay shares fell 7.8% in premarket trading on a weaker-than-expected revenue forecast, even as the e-commerce company beat profit and revenue predictions for its most recent quarter. Inflation and a return to pre-pandemic shopping habits are among the factors weighing on forecasts from eBay and other e-commerce companies.

Sunrun (RUN) – Sunrun rallied 12.8% in premarket trading after the solar company reported first-quarter revenue that was much better than expected, even though its quarterly loss was wider than expected. Sunrun said it had implemented “meaningful” price hikes to offset higher costs and demand for solar equipment remained strong.

Source: CNBC