JetBlue Airways — JetBlue Airways’ stock surged by over 15% after activist investor Carl Icahn disclosed a 10% stake in the airline, citing the company as undervalued.
Arista Networks — Despite surpassing fourth-quarter estimates, the computer networking stock witnessed a decline of over 7%. Arista Networks projected its first-quarter revenue to fall within the range of $1.52 billion to $1.56 billion, compared to an estimate of $1.53 billion.
Several analysts on Wall Street, including Goldman Sachs, had anticipated the company to revise its full-year outlook upwards.
Tripadvisor — Following Tripadvisor’s formation of a special committee, composed of its independent directors, to assess proposals potentially aimed at a “potential transaction,” the company’s shares surged by nearly 12%.
Coca-Cola — Shares remained relatively unchanged following the beverage giant’s release of mixed results for the fourth quarter.
The company reported adjusted earnings of 49 cents per share, in line with an LSEG estimate. Revenue reached $10.85 billion, surpassing a forecast of $10.68 billion.
Hasbro — Shares plunged by 9% after the toymaker fell short of expectations in the fourth quarter.
Hasbro reported earnings of 38 cents per share, excluding items, on $1.29 billion in revenue, whereas analysts surveyed by LSEG had predicted 66 cents per share and $1.36 billion, respectively.
The company also warned of a weak gross margin and a decline in full-year revenue due to sluggish consumer product sales.
Shopify — Shares experienced a decline of over 12% despite the e-commerce company exceeding expectations on both the top and bottom lines in the fourth quarter.
Shopify announced adjusted earnings of 34 cents per share, surpassing the FactSet consensus estimate of 30 cents per share. Revenue totaled $2.14 billion, exceeding the $2.08 billion expected by analysts surveyed by FactSet.
Datadog — The software stock saw a decline of over 4% following the release of disappointing guidance. Datadog projected adjusted earnings per share to fall within the range of 33 cents to 35 cents for the first quarter and $1.38 to $1.44 for the full year.
Analysts surveyed by LSEG had anticipated earnings per share of 39 cents and $1.83, respectively. Despite this, fourth-quarter revenue exceeded Wall Street’s expectations.
ZoomInfo Technologies — The market intelligence stock surged by 15% on the back of strong earnings and a slightly better-than-anticipated first-quarter earnings per share outlook.
ZoomInfo reported earnings of 26 cents per share, excluding items, on $316 million in revenue. This surpassed the anticipated EPS of 25 cents and revenue of $311 million according to analysts surveyed by LSEG.
Cadence Design Systems — Cadence Design Systems witnessed an 8% decline after issuing a weak first-quarter guidance.
Although the software maker exceeded Wall Street’s fourth-quarter estimates, it projected revenues to range between $990 million and $1.01 billion for the current period, falling short of the FactSet estimate of $1.09 billion.
Lattice Semiconductor — The semiconductor stock experienced a 7% decline following the release of mixed fourth-quarter results and disappointing guidance.
While Lattice Semiconductor exceeded earnings expectations, it reported $171 million in revenue, falling short of the $176 million expected by analysts surveyed by LSEG.
For the current period, the company anticipated earnings to range between $130 million and $150 million, compared to a $174 million estimate.
Biogen — Biogen’s stock fell by more than 4% after unveiling disappointing fourth-quarter results.
The biotechnology company failed to meet Wall Street’s estimates on both the top and bottom lines, reporting earnings of $2.95 per share, excluding items, on $2.39 billion in revenue.
Restaurant Brands International — The fast-food operator reported robust fourth-quarter financial results, driven by sales growth at its Tim Hortons, Burger King, and Popeyes brands.
Adjusted earnings stood at 75 cents per share on revenue of $1.82 billion, surpassing analysts’ expectations of 73 cents per share on revenue of $1.81 billion, according to LSEG. Shares remained unchanged in premarket trading.
Children’s Place — The children’s apparel retailer experienced a 12% decline after BTIG downgraded its shares from neutral to sell, citing a highly unfavorable risk/reward scenario.
The firm adjusted its price target to reflect a downside of over 75%. The company recently disclosed its collaboration with advisors to explore new financing options.
Molson Coors Beverage — Shares of the beer maker increased by nearly 3% following its fourth-quarter earnings beat. Adjusted earnings per share reached $1.19, surpassing the $1.12 expected by analysts surveyed by FactSet.
Revenue also slightly exceeded expectations, reaching $2.79 billion compared to the consensus estimate of $2.78 billion.
