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Check out the companies that made headlines for the opening bell:
Etsy — Shares fell more than 6% in premarket after Jefferies double downgraded the online marketplace to underperform buying. The company cited the company’s need to spend more on marketing as customer churn increases.
Silvergate Capital – Shares of the crypto lender fell 50% after the company announced it would wind down operations and liquidate Silvergate Bank. The news comes about a week after the bank warned it may not be able to continue operating and follows a string of financial troubles and government investigations in the wake of the collapse of FTX, a client of the bank.
Uber — Shares of the ride-hailing company rose about 2% in premarket trading following a Bloomberg report that Uber is considering spinning off its freight logistics division. The cargo unit had sales of $1.5 billion in the fourth quarter.
MongoDB – Shares of the database platform provider fell more than 10% in premarket. The decline came after MongoDB issued weak earnings expectations that disappointed investors. The company posted earnings and sales that beat expectations for the fourth quarter.
SVB Financial – Shares of the financial services company fell 30% after the company announced it plans to offer $1.25 billion in common stock and $500 million in certificates.
Credit Suisse – U.S.-traded shares of the Swiss bank fell more than 4% in premarket trading after the company announced it would delay its annual report after receiving comments from the Securities and Exchange Commission. The regulator’s comments were about cash flow statements in 2019 and 2020, the bank said.
LoanDepot – Shares of the mortgage lender lost more than 10% after its fourth-quarter earnings report missed analysts’ expectations. The company reported a loss of 46 cents per share and revenue of $169.7 million. Analysts polled by FactSet had estimated earnings loss of 27 cents per share and revenue of $190.9 million.
Hilton – Shares of the hotel chain rose 0.5% in premarket after Barclays upgraded the stock from an equal weight to overweight, saying the company can handle macro challenges better than its peers.
— CNBC’s Alex Harring and Jesse Pound contributed reporting.
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