Pedestrians cross the sidewalks at Cigna headquarters in Bloomfield, Connecticut.
Michael Nagel | Bloomberg | Good pictures
Check out the companies making the biggest moves in the premarket:
Cigna — Cigna gained 3% in premarket trading after beating its top and bottom line estimates for the latest quarter and raising its full-year forecast. Cigna’s results got a boost from lower medical costs and strong growth in its health insurance division.
Warner Bros. Discovery — fell 2.3% in the premarket after the media company reported a quarterly loss and its adjusted revenue fell slightly short of expectations. However, its streaming business reversed earlier losses and posted a quarterly profit.
DraftKings — Shares of the sports betting company rose 11.6% in the premarket after DraftKings reported significantly higher-than-expected revenue in its latest quarter and raised its full-year outlook.
Apple – Apple rose 2.7% in pre-market trading after beating estimates for quarterly revenue and earnings, with particularly encouraging results for its flagship iPhone. However, Apple posted its second consecutive quarter of revenue declines for the 3rd time in the past decade.
Bumble – Bumble posted higher-than-expected quarterly sales as user demand for its dating app remained strong. The stock rose 9.1% in premarket action.
Booking Holdings — Shares of Booking fell 3% after the travel services company posted quarterly profit and sales that beat analyst estimates amid strong travel demand, but its adjusted revenue fell short of analyst forecasts. Booking stocks also traded at an all-time high before the report.
Expedia — Despite the travel website operator reporting a bigger-than-expected loss, Expedia rallied 5.6% following its quarterly results. Expedia saw a 20% jump in total bookings in its first quarter earnings.
DoorDash — Food delivery service DoorDash posted a 4% premarket gain following a smaller-than-expected loss, as well as quarterly revenue that beat analyst estimates. DoorDash raised its full-year guidance as demand for its services remains strong.
Lyft — Lyft shares fell 15.4%. Shares fall despite better-than-expected quarterly results.
Coinbase — Coinbase posted better-than-expected quarterly results, leading to an 8.1% premarket rally for the cryptocurrency exchange’s stock. The gain comes despite the company warning of impending pressure on its subscription and services revenue.