Stocks making the biggest moves premarket: Wendy’s, Coinbase, Buzzfeed and more
Check out the companies making headlines before the bell:
Wendy’s (WEN) – Wendy’s shares fell 1% in premarket trading following a mixed quarter, which saw the restaurant chain report better-than-expected earnings while revenue fell short of Street forecasts. U.S. same-restaurant sales rose 2.3%, less than analysts had estimated, as consumers spent more cautiously.
Coinbase (COIN) – The cryptocurrency exchange operator’s shares slid 5% in the premarket after the company reported a wider-than-expected quarterly loss, with business impacted by the slide in crypto prices during the spring months. Coinbase saw volumes fall as the number of active traders declined during the quarter.
Buzzfeed (BZFD) – The digital media company reported a wider-than-expected quarterly loss amid a pressured advertising market and rising expenses. Buzzfeed fell 3.7% in premarket trading.
Twitter (TWTR) – Twitter added 3.6% in premarket action following news that Elon Musk sold nearly $7 billion in Tesla (TSLA) shares over the past few days. The move comes amid uncertainty over whether a court will force Musk to follow through on his $44 billion deal to buy Twitter. Tesla shares gained 1.3%.
Roblox (RBLX) – The videogame company’s stock tumbled 15.1% in the premarket after Roblox reported a quarterly loss that was wider than expected and bookings – a key sales metric – fell short of analyst forecasts.
Wynn Resorts (WYNN) – The resort operator reported a smaller-than-expected quarterly loss, but revenue was shy of expectations as results in Macau continue to be pressured by Covid-related shutdowns. Wynn Resorts fell 2.9% in premarket trading.
Trade Desk (TTD) – The digital advertising firm’s stock surged 16.3% in the premarket after it reported better-than-expected quarterly revenue and gave an upbeat forecast for the current quarter. The company said its performance gives it confidence that it can gain market share in any economic environment.
H&R Block (HRB) – The tax preparation firm’s stock jumped 4% in premarket action after quarterly results were better than expected, helped by a strong tax season. H&R Block also announced a 7% dividend increase and a new $1.25 billion stock buyback program.