Beyond Meat, Sweetgreen, Adobe, Block and more

Beyond Meat “Beyond Burger” patties made from vegetable substitutes for meat products are on a shelf for sale in New York City.

Angela Weiss | AFP | Getty Images

Check out the companies making headlines before the bell:

Beyond Meat – Shares jumped 12% after Beyond Meat reported a smaller-than-expected fourth-quarter loss, even with sales down more than 20%. The meat substitutes company reported a loss per share of $1.05, lower than the $1.18 expected, according to Refinitiv. It recorded revenue of $79.9 million, more than the expected $75.7 million.

Bloc – Shares of the payments giant rose more than 6% in early morning trading after the company reported better-than-expected fourth-quarter revenue and strong gross margin growth.

Carvana – The used-car retailer fell 5.8% after posting a loss of $7.61 per share in the fourth quarter, higher than the expected loss of $2.28 per share, according to consensus estimates. Refinitiv. Revenue was $2.84 billion, down 24% from the fourth quarter of 2021 and below analyst expectations of $3.1 billion.

Sweetgreen – Shares of the salad chain fell about 10% after Sweetgreen released weaker-than-expected first-quarter and full-year revenue guidance, according to Refinitiv. Fourth quarter revenue was also insufficient. Higher menu prices and fewer transactions hurt the business, as did shortages of romaine lettuce, arugula and tomatoes.

Adobe – Shares fell more than 3% after a Bloomberg report, citing an unnamed source, said the US Department of Justice planned to block the company’s acquisition of startup Figma for $20 billion. dollars in a lawsuit.

MercadoLibre – MercadoLibre jumped 5% after the South American e-commerce company reported fourth-quarter earnings of $3.25 a share on revenue of $3 billion. Analysts polled by FactSet had expected earnings of $2.42 a share and revenue of $2.96 billion.

Boeing – Shares of the industrial giant fell more than 2% in premarket trading after the company announced it had temporarily halted deliveries of its 787 Dreamliners so it could perform additional analysis on a fuselage component. The planes, which are often used for long-haul international routes, have suffered from several problems for several years.

EOG Resources – EOG Resources fell 3.6% after the energy company reported fourth-quarter results, excluding items, below analysts’ expectations, according to FactSet. The company, however, beat its earnings.

Warner Bros. Discovery – The stock fell 4% after Warner Bros. Discovery posted disappointing results in its latest quarter. The media and entertainment conglomerate posted a loss of 86 cents per share on revenue of $11.01 billion. Analysts polled by Refinitiv called for a loss of 21 cents per share on revenue of $11.36 billion.

Autodesk – Shares fell more than 4% after Autodesk released a soft first-quarter earnings forecast. Otherwise, the software company beat fourth-quarter revenue and earnings expectations, according to Refinitiv.

– CNBC’s Michelle Fox, Yun Li and Tanaya Macheel contributed reporting

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