Stocks making the biggest moves before the bell: Uber, Planet Fitness, Peloton and more
Check out the companies making headlines in premarket trading Tuesday.
UBS — Shares of the Switzerland-based bank climbed more than 3% after UBS recorded an underlying operating profitbefore tax of $844 million, well ahead of consensus expectations. Factoring in $2 billion in expenses related to the integration of fallen rival Credit Suisse, UBS posted a bigger-than-expected third-quarter net loss attributable to shareholders of $785 million.
Planet Fitness — The gym chain climbed 8.8% after beating expectations on both lines for the third quarter and raising its outlook for the year. Planet Fitness reported 59 cents in earnings per share, excluding items, and $277.6 million in revenue. Analysts surveyed by FactSet anticipated 55 cents in earnings per share on revenue at $268.2 million.
Vivid Seats — The online ticket marketplace popped 8.6%. The rally comes after the company surpassed analysts’ consensus forecast for revenue in the third quarter, while also offering stronger-than-expected guidance on the line for both the 2023 and 2024 full year. Vivid Seats also confirmed it would acquire Vegas.com in a $240-million deal.
Tripadvisor — The travel stock added more than 10% after Tripadvisor posted quarterly results that beat analyst expectations. Tripadvisor reported earnings of 52 cents per shares on $533 million of revenue, versus the 47 cents per share on $505 million of revenue expected by analysts polled by LSEG.
Coterra Energy — Shares rose 3% in premarket trading Tuesday, a day after the company’s earnings report. Coterra topped the earnings forecast of analysts polled by FactSet, while also raising its full-year production guidance.
Sanmina — Shares tumbled 11.7% after the electronics manufacturer offered weak guidance. The company expects fiscal first-quarter revenue between $1.85 billion and $1.95 billion. That’s well below a StreetAccount consensus of $2.19 billion.
Hims & Hers Health — Shares of Hims & Hers Health jumped 5% in premarket trading. The telehealth company on Monday reported third-quarter revenue that topped expectations, while also raising its full-year guidance and announcing a $50-million share repurchase program.
Peloton — Shares dropped more than 5% after being downgraded by Deutsche Bank to hold from buy. The firm cited lack of clarity in the exercise-equipment marker’s growth outlook. It also cut its price target on Peloton to $4 from $13 per share, implying about 20% downside from Monday’s close.
DigitalOcean — The cloud computing stock advanced 6.1% on the heels of a double-upgrade to buy from sell by Goldman Sachs. The firm said DigitalOcean has underappreciated structural improvements while its cyclical risks are already priced in.
— CNBC’s Yun Li, Jesse Pound, Lisa Kailai Han, Sarah Min and Michelle Fox contributed reporting