Business

Expedia, Block, Lyft and more

Expedia, Block, Lyft and more
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Check out the companies making headlines before the bell:

Expedia (EXPE) — Shares of the travel website operator are up 5.4% premarket after Expedia topped top and bottom-line estimates in its latest earnings report. Travel demand was strong, with lodging revenue up 57% year-on-year and airline ticketing revenue up 22%.

block (SQ) – Shares of the payments services company fell 6.4% in premarket trading despite reporting better-than-expected quarterly results. The decline comes as Block reports a 34% drop in revenue at its cash app unit.

lyft (LYFT) — The ride-hailing service’s stock is up 7.5% premarket after it reported an unexpected quarterly profit and ridership rose to its highest level since before the pandemic. Lyft said its findings were also supported by cost controls.

DoorDash (DASH) — DoorDash rose 10.3% in the premarket after the grocery delivery company raised its forecast for gross order value, a key metric. While DoorDash reported a bigger-than-expected quarterly loss, revenue came in ahead of Wall Street forecasts.

DraftKings (DKNG) – The sports betting company reported better-than-expected revenue and adjusted earnings for its most recent quarter, and also raised its full-year revenue guidance. DraftKings shares are up 8.2% premarket.

AMC entertainment (AMC) – The theater operator’s stock fell 9% premarket after it announced the move issue a stock dividend to all ordinary shareholders in the form of preferred shares. Regardless, AMC reported a slightly stronger-than-expected quarterly loss.

Warner Brothers discovery (WBD) – Shares of the media company slumped 11.6% in premarket trading after it reported a quarterly loss and earnings that came in below Wall Street forecasts.

Beyond meat (BYND) – The maker of plant-based meat alternatives reported a higher-than-expected quarterly loss and revenue that missed analysts’ estimates. Beyond Meat also announced that it would lay off 4% of its global workforce. The stock fell 3.6% premarket.

caravan (CVNA) – Carvana shares are up 8.4% in premarket trade after the online used car seller said it is “aggressively” cutting costs while preparing for a potential economic downturn.

Virgo Galactic (SPCE) – Virgin Galactic plummeted 14.2% in the premarket thereafter announce delay on commercial spaceflight launches by Q2 2023. Virgin Galactic also said it would sell up to $300 million worth of stock to bolster its cash reserves.

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