Nvidia — The closely followed chip giant’s stock surged 13% in premarket trading after earnings released Wednesday afternoon blew past expectations amid the artificial intelligence boom. Nvidia earned $5.16 per share on an adjusted basis and $22.1 billion in revenue for the fourth quarter, while analysts surveyed by LSEG anticipated $4.64 per share and $20.62 billion. The company also said revenue in the current quarter would be stronger than Wall Street forecasted.
Moderna — Shares were up more than 5% after the vaccine maker posted a greater-than-expected revenue for the fourth quarter. The company’s top line registered at $2.81 billion, while analysts polled by LSEG had forecast a print of $2.50 billion. Moderna also reported a surprise profit, boosted in part by deferred revenue that came despite plunging sales in its Covid vaccine.
Lucid — Shares pulled back more than 7% after the luxury electric vehicle company missed revenue estimates in the fourth-quarter. Specifically, Lucid posted $157 million, while analysts expected $180 million, per LSEG. Cantor Fitzgerald downgraded Lucid to underweight from neutral earlier on Thursday, according to Street Account.
Etsy — Shares lost 8.6% in Thursday’s premarket, the morning after the online market place reported a mixed fourth quarter. While revenue exceeded Wall Street expectations, the company saw 62 cents in earnings per share, under the 78 cents anticipated from analysts polled by LSEG.
Rivian — Shares tumbled 17% a day after the electric vehicle maker said it saw steeper losses than expected and cut 10% of staff. Though revenue came in higher than analysts forecasted, Rivian said it lost $1.36 per share, 4 cents wider than the consensus estimates of analysts polled by LSEG. The company also said to expected lower-than-anticipated car production.
Synopsys — Shares popped 4.5% a day after the software company issued better-than-expected earnings for the fiscal first quarter and strong current-quarter earnings. Synopsys posted $3.56 per share, excluding items, in earnings, topping the LSEG consensus prediction of $3.43 per share
DoorDash — The food delivery stock advanced nearly 5% on the back of an upgrade to overweight from equal weight by Morgan Stanley. The firm said the stock is at an attractive entry point and has a long growth runway.
Root — Shares climbed 28% after the car insurance stock reported a fourth-quarter loss of $1.64 per share, lower than the $2.84 analysts polled by FactSet had expected. The company’s fourth-quarter revenue of $194.8 million was also higher than the $132.5 million that had been expected. Following the earnings release, Cantor Fitzgerald upgraded the stock to an overweight rating from neutral.
Remitly Global — Shares surged 22.4% following the financial services provider’s earnings report. While Remitly saw a loss per share while analysts anticipated a small gain, the company topped revenue expectations and offered better-than-forecasted guidance on the measure for the full year. BMO Capital Markets upgraded the stock to outperform from market perform.
Novavax — Shares climbed 9.6% after the biotech company said it would settle its arbitration dispute with Gavi, a nongovernmental global vaccine organization. The disagreement centered on a canceled purchase agreement for Covid vaccines.
Coty — Shares jumped 3% after TD Cowen upgraded the beauty company to outperform from market perform, citing momentum in the fragrance category. Analyst Oliver Chen raised the price target to $16 from $13, implying upside of more than 26% from Wednesday’s close of $12.64.
ASML Holding — The semiconductor stock jumped 3.9% after HSBC initiated coverage as a buy. The firm said 2025 estimates and share price could have upside if the industry sees an upcycle.
Gates Industrial — The manufacturer added 4.8% on the back on a KeyBanc upgrade to overweight from sector weight. KeyBanc said the stock has become overly discounted as private equity has exited its stake.
