Rivian, Beyond Meat, Disney and more
Check out the companies making headlines before the bell:
Tesla (TSLA) — Shares of Tesla got a roughly 2% boost after CEO Elon Musk sold about $5 billion worth of shares this week, according to financial filings submitted Wednesday. He still holds more than 166 million shares.
Rivian (RIVN) — Electric vehicle maker Rivian’s shares rose more than 6% in early morning trading after the company made its trading debut on the Nasdaq Wednesday. The IPO pulled other EV stocks up with Rivian. Nio and Fisker shares gained about 2%.
Beyond Meat (BYND) — The alternative meat company’s shares tumbled almost 20% after reporting a wider-than-expected loss of 87 cents per share for the third quarter, compared with expectations of 39 cents per share loss. It also missed revenue estimates, bringing in $106.4 million versus the $109.2 million forecasted by Wall Street.
SoFi (SOFI) — Digital bank SoFi’s shares jumped 13% after reporting better-than-expected quarterly results Wednesday evening. SoFi reported a loss of 5 cents per share, compared to analysts’ estimates for a loss of 9 cents per share, according to Refinitiv.
Affirm (AFRM) — Buy-now-pay-later darling Affirm’s shares rallied 25% in early trading after announcing an expansion of its partnership with Amazon and reported a quarterly revenue beat, recording $269.4 million versus estimates of $248.2 million. Affirm also reported a quarterly loss, according to Refinitiv.
Marqeta (MQ) — Shares of Marqeta, the card-issuing platform behind buy now pay later brands like Affirm and Klarna, jumped 11% after reporting strong quarterly results and a 60% increase in processing volume from the previous year.
The Honest Company (HNST) — Shares of the cosmetics company increased about 8% after announcing quarterly earnings that came were in line with expectations and revenue that topped Wall Street’s forecasts, according to Refinitiv.
Walt Disney (DIS) — Disney shares fell nearly 5% in early morning trading Thursday after missing top and bottom-line estimates for its third-quarter results. The media giant reported a profit of 37 cents per share on revenue of $18.53 billion, compared with analyst estimates of 51 cents per share on revenue of $18.79 billion, according to Refinitiv. Subscriptions for Disney+ also feel short of estimates.
Bumble (BMBL) — Shares of the dating app fell nearly 9% after reporting a loss of 6 cents per share, 6 cents below analyst estimates, according to Refinitiv. Revenue, however, came in better than expected.