Shake Shack, Virgin Galactic, Paramount, and More Stocks Dash Into Premarket

Here are the companies making the biggest moves premarket:

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Shake Shack

The shares of the quick-service restaurant chain rose slightly after it reported a narrower loss than expected and said same-store sales were up 5% year-over-year. The revenue for the quarter was in line with what was expected.

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Virgin Galactic Holdings

After undergoing a series of mechanical upgrades, the space travel company gained nearly 3% in the premarket following the launch of its first test flight of the Eve mothership.

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Paramount Global

After Paramount missed top and bottom line estimates for the third quarter, the entertainment stock fell 6% in premarket trading. A quarter's worth of revenue of $8.13 billion resulted in a profit of 8 cents a share after adjustments. Analysts surveyed by Refinitiv expected the company to report earnings of 23 cents per share on revenue of $8.16 billion, according to their report. While Paramount Plus subscribers increased by 9.9 million, TV advertising revenue declined by 7%.

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Hasbro

A stronger-than-expected profit helped Hasbro's share price rise about 1%. Refinitiv consensus expected $1.29 per share, but Hasbro made $1.31 per share, excluding items. Revenue was in line with expectations at $1.68 billion.

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Tripadvisor

In the premarket, Tripadvisor fell by more than 4% after Bernstein downgraded the company from outperform to market perform. Tripadvisor outperformed fourth-quarter estimates on Wednesday, according to the Wall Street firm. Tripadvisor's strategic plan seemed defensive rather than offensive.

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Roku

The stock of the streaming device company gained nearly 9% after it reported a narrower-than-expected loss of $1.70 per share, compared with the $1.73 per share that was expected, according to Refinitiv. There were estimates of $802 million of revenue from the company, but its revenue came in at $867 million.

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Cisco Systems

In the wake of strong earnings, the digital communications company raised its outlook for the year, resulting in a 3.5% gain. Refinitiv estimated 86 cents per share, but it earned 88 cents after excluding items. The company also exceeded revenue expectations.

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Twilio

Refinitiv's analysts polled predicted $1 billion in revenue for the communications tools maker, which resulted in a nearly 9% increase in the stock price.

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Shopify

Cloud-based e-commerce platform's shares plunged 13% on Thursday after it issued lighter-than-expected guidance. Other than that, Shopify's earnings and revenue exceeded Wall Street's expectations.

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Zillow Group

Premarket gains for the online real estate company were nearly 2% after it reported adjusted earnings per share of 21 cents on revenue of $435 million. Those earnings beat analysts' expectations of $415 million in revenue, according to Refinitiv.

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West Pharmaceutical Services

Pharmaceutical and healthcare products manufacturer gains 5.3% after beating earnings and revenue estimates in the fourth quarter. The adjusted earnings per share came in at $1.77, compared to a StreetAccount estimate of $1.38. This compares with a StreetAccount estimate of $657 million.

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Boston Beer 

Brewing company shares dropped more than 12% after reporting a surprise loss of $11.4 million, or 93 cents per share. It expects to post a loss in the first quarter as well due to supply-chain inefficiencies.

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Generac Holdings

Canaccord Genuity upgraded the generator maker to buy from hold after its latest earnings report. During the company's earnings report on Wednesday, Generac beat expectations and provided a better-than-expected revenue forecast.

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Synopsys

Silicon design company shares fell 3.8% after weaker-than-expected guidance for the second quarter. Despite beating earnings expectations, Synopsys' revenue remained flat.

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