Stocks Huge Moves: Twitter, Shopify, eBay
Elon Musk’s $7.2 billion financing commitments for Twitter’s acquisition deal have caused the stock to rise 1.5% in pre-market operations. The SEC statement said Larry Ellison, Oracle co-founder, and investor Ron Baron were among those receiving the funds. SeaWorld shares rose 1% in the supermarket after announcing less-than-expected quarterly losses. Also saw that revenue exceeded estimates as attendance exceeded pre-pandemic levels.
Spirit Airlines announced an adjusted quarterly loss of $1.60 per share, more than the 58-cent loss Wall Street was expected. And revenue is also lower than forecast. Shares of Spirit lost 1.4% in pre-market trading.
Kontoor Brands, a company that makes clothing for Lee and Wrangler, did better than expected. Their quarterly earnings were $1.43 per share. Revenue also exceeds estimates. Kontoor raised its full-year forecast. However, it downgraded the current quarter outlook due to the closure of COVID in China.
Shopify lost 14.1% in pre-market trading. After he announced corrected quarterly earnings of 20 cents per share, far below the 64-cent consensus estimate. The e-commerce platform has also given a conservative perspective. The growth inspired by the block will slow down amid a lack of money for a new consumer incentive.
Wayfair Household Online Retail Shares fell 6.4% in the supermarket. Revenue matches the forecast after announcing an adjusted quarterly loss of $1.96, 40 cents more than expected. The number of active customers decreased by 23.4% compared to the previous year.
Etsy, eBay Stocks
Etsy fell 12.5% in pre-market activity. The revenue met expectations and a better-than-expected revenue for the online market operator. The stock prices of Etsy fell because the company’s guidance for the current quarter was weaker than expected, due to reduced one-time revenue from consumers.
eBay shares fell 7.8% after the company issued a weaker-than-expected revenue forecast. Despite this, eBay still outperformed profit and revenue forecasts for the last quarter. Inflation and the return of pre-pandemic trading habits are one of the factors; Which affect the forecasts of eBay and other e-commerce companies.
Booking Holdings’ stock rose 10.1% in pre-market trading after the company announced better-than-expected quarterly profits and revenue. The jump in demand for travel services contributed to the company’s strong performance. The parent of Priceline and other services earned an adjusted $3.90 per share. That’s well above the 90-cent consensus estimate.
Twilio shares rose 2.4% in pre-market with a cloud communications company, which reports on an interim quarter on an adjusted basis. Experts expected a fall of 22 cents per share. Revenue also exceeded Wall Street forecasts.
After Solar Company announced first-quarter revenue, it saw a 12.8% increase in pre-market trading. Although its quarterly losses were more significant than expected, this was still much better than expected. Sunrun said it had implemented a “significant” increase in prices; The demand for higher costs and solar equipment is still strong.
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