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Stocks Making the Biggest Premarket Moves: Block, Tupperware, Nikola and More

August 4, 2023
minute read

Check out the companies making headlines before the bell Friday.

Apple's shares declined nearly 2.4% in premarket trading despite reporting earnings per share for the fiscal third quarter that exceeded analysts' expectations. However, the company's revenue showed a decline for the third consecutive quarter due to a decrease in sales of its hardware products.

Payment tech company Block saw its shares slide over 5% in premarket trading, even though it reported second-quarter earnings and revenue above expectations.

Shares of crypto exchange Coinbase fell 1.5% in early morning trading, despite posting a narrower-than-expected loss and surpassing revenue expectations.

Amazon's stock surged more than 9% following strong second-quarter results and an upbeat revenue guidance for the current period. The company reported earnings and revenue that surpassed analysts' expectations.

Booking Holdings' stock soared over 12% after the online travel company reported better-than-expected second-quarter adjusted earnings and revenue. The company also expects gross bookings to grow in the third quarter.

Electric truck maker Nikola's shares rose 1.9% after winning shareholder approval to issue new stock, enabling the company to raise funds for its fuel-cell-powered electric semitruck and hydrogen refueling network.

Cybersecurity company Fortinet's shares tumbled 18.8% after posting a mixed second-quarter report and issuing a softer revenue outlook for the current quarter.

Container maker Tupperware Brands' stock surged 56% before the bell on Friday following the finalization of a debt restructuring deal that will reduce or reallocate cash interest and fees.

Opendoor Technologies' shares dropped 10.3% after the online home-selling company issued weak third-quarter revenue guidance, falling short of analysts' expectations.

Digital gambling company DraftKings' shares gained 12% after exceeding analysts' estimates in the second quarter, reporting a lower loss per share and higher revenue than expected.

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Eric Ng
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