Lucid, Nvidia, Dollar General, Sunrun And More Stocks Move In Premarket

Look at the businesses grabbing attention during the morning trading.

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Lucid

The manufacturer of electric vehicles witnessed a 14% premarket decline in shares after revealing that fourth-quarter revenue did not meet forecasts. The Air premium automobile was only produced in 7,000 units last year, according to Lucid, because of manufacturing issues. The shares were downgraded by Bank of America on Thursday, citing concerns about near-term demand.

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Nvidia

When Nvidia reported beats on the top and bottom lines for its most recent quarter on Wednesday, shares of the chip giant soared more than 9% in early trade. Wall Street praised Nvidia's performance on Thursday, describing AI potential as the chip maker's next significant growth vector.

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Dollar General

As Dollar General released its preliminary financial results for the fourth quarter and fiscal year 2022, which fell short of previous projections and FactSet consensus expectations, shares dropped roughly 5%.

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eBay

Despite reporting fourth-quarter earnings and sales that exceeded analysts' expectations as measured by Refinitiv, the online auction platform saw a 5% decline. Although the company's earnings came in at $1.07 per share, it gave a range of $1.05 to $1.09 per share as its earnings guidance for the current quarter. Wall Street anticipates $1.06

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Etsy

Upon the release of the company's quarterly earnings, shares of the e-commerce company increased 5%. Etsy announced revenue of $807 million, exceeding average projections from Refinitiv of $752 million. In addition, the business projected sales for the current quarter of between $600 million and $640 million, up from projections of $622 million.

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Bath & Body Works

Upon the release of the company's fourth-quarter earnings, shares dropped more than 4%. According to Trade Algo's measurements, the bath store retail chain provided weaker-than-anticipated first-quarter and full-year expectations. According to consensus projections from Trade Algo, it posted a beat on the top and bottom lines in all other respects.

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Bumble

After reporting better-than-anticipated fourth quarter earnings and revenue, the online dating site saw a more than 3% increase in value. The $191 million in revenue reported by Bumble was higher than the $186 million analysts surveyed by FactSet had predicted. Moreover, revenue came in at $242 million as opposed to analysts' forecasts of $236 million.

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Mosaic

The manufacturer of fertilizer announced fourth-quarter revenue of $4.48 billion, which above analysts' expectations of $4.17 billion and saw a 2% increase in shares. The quarter's earnings came up short of expectations.

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Alibaba

After beating analyst expectations for its fiscal third quarter, the world's largest e-commerce company in China gained about 6%. Contrary to expectations, revenue came in at 247.76 billion Chinese yuan ($35.92 billion), not 245.18 billion. Profits per American depository share were 46.82 billion yuan as opposed to the analysts' estimate of 34.02 billion yuan.

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Sunrun

After exceeding Wall Street's forecasts for its fourth-quarter results, the solar company increased 1.5%. According to Trade Algo estimates, earnings per share were 29 cents as opposed to the 1 cent anticipated. Their adjusted net income was $63 million, higher than the projected $37.3 million.

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Moderna

The pharmaceutical company shared the news with Merck that the FDA had given breakthrough status for a tailored cancer vaccine for those with high-risk melanoma. Merck gained less than 1%, while Moderna gained more than 1%.

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Intel

After the company reduced its payout by roughly 60%, shares of the chip manufacturer increased more than 1% after Morgan Stanley upgraded the stock from underweight to equal weight. The stock has suffered due to speculation over a dividend cut, but Morgan Stanley said that given Intel's poor performance, there is "little downside" and that it is "the appropriate thing to do longer term."