Stocks making the biggest moves premarket: Plug Power, Illumina, Diageo and more
Check out the companies making headlines before the bell. Wynn Resorts — The casino juggernaut slipped more than 5% after reporting a beat on the top and bottom line in the third-quarter. Wynn notched an adjusted 99 cents per share on $1.67 billion in revenue, while analysts polled by LSEG forecast 75 cents and $1.59 billion. Some analysts were less encouraged by EBITDAR results from the company’s Wynn Macau segment, however. Diageo — The UK-based drink manufacturer dropped 14.5% in Friday early morning trading after the company said it expects growth to slow in the first half of its fiscal year, due to weakness in Latin America and the Caribbean, cutting guidance for the short and medium term. Illumina — Shares of the biotechnology company plunged 12.5% after it slashed its adjusted earnings guidance for the full year to a range of 60 cents to 70 cents per share, while analysts’ estimated 80 cents per share, according to LSEG. Illumina’s revenue was lower than analysts’ estimates, although the company had beat on adjusted earnings per share in the third quarter. Unity Software — Shares of the video-game engine maker slid 14% after the company posted a quarterly revenue miss and refrained from issuing guidance, based on uncertain timing around discontinuations, layoffs and a reduction in office space. Unity reported $544.2 million in revenue for the quarter, although analysts had expected $553.7 million, according to LSEG. Plug Power — Shares cratered 33% after RBC Capital Markets downgraded the stock to sector perform from outperform due to a series of “unprecedented challenges” that caused a shortage in third-quarter hydrogen supply. After the closing bell Thursday, Plug Power had reported a surprisingly larger loss for the third quarter along with disappointing revenue. TKO Group — The stock tumbled 7.5% after Executive Chairman Vince McMahon said he planned to sell 8.4 million shares of the WWE parent company. TKO said executives and the company itself were interested in buying shares from McMahon. Capri Holdings — Shares of the luxury fashion group fell 2.7% in premarket trading after Capri posted mixed results from the fiscal second quarter. The company reported adjusted earnings of $1.87 per share on $1.29 billion in revenue, while analysts had been forecasting earnings of $1.52 per share on $1.34 billion in revenue. Capri’s chief executive had said results came below the company’s expectations due to macro headwinds amid challenges related to ecommerce. The Trade Desk — Shares were down 23.9% on Friday, continuing the previous day’s losses, after the digital marketing company issued weak guidance for the current quarter. The Trade Desk said it expects revenue of $580 million in the fourth quarter, whereas analysts polled by LSEG had been forecasting $610 million. The company posted third-quarter adjusted earnings and revenue that exceeded estimates, however. — CNBC’s Alex Harring, Tanaya Macheel and Brian Evans contributed reporting. This post has been syndicated from a third-party source. View the original article here.
