Check out the companies making headlines in premarket trading. Fortinet — Shares dropped 23.1% after the cybersecurity company missed earnings expectations and gave a weak outlook for the current quarter. Fortinet posted $1.33 billion in revenue for the third quarter and said to expect between $1.38 billion and $1.44 billion in the current quarter. Both underwhelmed analysts polled by LSEG, who anticipated $1.35 billion in revenue for the third quarter and a current-period estimate of $1.5 billion. Block — The fintech stock surged more than 15% in premarket trading a day after the company reported third-quarter earnings that beat analyst estimates on the top and bottom line. Block also showed strong growth in both Cash App and Square revenue, while hiking its full year guidance. Bill Holdings — Shares of the software company fell more than 30% in premarket trading after Bill lowered its guidance for earnings and revenue for the full fiscal year. The reduced guidance came despite Bill beatings estimates on the top and bottom lines for its fiscal first quarter. Expedia — The vacation booking platform popped 10.9% on the heels of a strong third-quarter report. Expedia said on Thursday that it earned an adjusted $5.41 per share on $3.93 billion in revenue, topping the expectations analysts polled by LSEG, who forecasted $4.93 per share and revenue at $3.86 billion. Apple — Shares retreated 2.2%. On Thursday, the big technology company posted its fourth straight decline in quarterly sales and provided a soft outlook for revenue in the December quarter. That outweighed the fact that the company beat analyst expectations on both lines in the fiscal fourth quarter. Live Nation — The ticket provider rose 2.9% a day after beating expectations for both lines when reporting earnings for the third quarter. Live Nation’s successful report comes as Taylor Swift and Beyoncé’s tours have dominated the music world, driving fans to buy concert tickets. Paramount Global — Shares rallied 5.5% after offering a report that surpassed analyst expectations on Thursday. The media company earned an adjusted 30 cents per share on $7.13 billion in revenue, while analysts surveyed by LSEG forecasted 10 cents per share and revenue at $7.10 billion. Floor & Decor Holdings — The home goods retailer tumbled 17%. On Thursday, Floor & Decor Holdings posted earnings of 61 cents per share on $1.11 billion in revenue, while analysts polled by FactSet expected 56 cents per share and $1.12 billion in revenue. The company also cut its full-year guidance on both lines. Carvana — The used car retailer slipped 4.3% after its Thursday earnings report showed slightly weaker revenue than expected. Carvana said it saw $2.77 billion in revenue for the quarter, a hair under the consensus estimate of $2.78 billion compiled by LSEG. DraftKings — Shares popped 6.4% after the sportsbook company reported third-quarter revenue that topped Wall Street’s expectations. Revenue increased 57% to $790 million and monthly unique payers jumped 40% year over year to 2.3 million. Coinbase — Shares lost 4.5% after the crypto company said revenue tied to subscriptions and services in the fourth quarter should be around flat when compared to the prior three-month period. Elsewhere, the company beat expectations on both lines in the third quarter. Trupanion — Shares climbed 9.3% on Friday, a day after the pet insurer’s earnings positively surprised Wall Street. Revenue for the third quarter came in at $285.9 million, above the $275 million forecast from analysts polled by FactSet. Meanwhile, the company saw adjusted EBITDA at $6.1 million, while analysts had anticipated a loss of $0.6 million. Uber — The rideshare stock advanced 1.2% following an upgrade to overweight from sector weight by KeyBanc. The firm said Uber, which is slated to report earnings next week, should show an acceleration of growth in the third quarter. — CNBC’s Jesse Pound, Yun Li and Michelle Fox contributed reporting. This post has been syndicated from a third-party source. View the original article here.
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