Finance News

Shares making the largest strikes forward of the market: Rivian, Past Meat, Disney, and extra

Check out the companies that make the headlines before the doorbell rings:

Tesla (TSLA) – Tesla shares rose about 2% after CEO Elon Musk sold about $ 5 billion worth of shares this week, according to financial filings filed Wednesday. He still holds more than 166 million shares.

Rivian (RIVN) – Electric vehicle maker Rivian stocks rose more than 6% in early morning trading after the company made its trading debut on the Nasdaq on Wednesday. The IPO pulled other EV stocks up with Rivian. Nio and Fisker shares gained about 2%.

Beyond Meat (BYND) – The alternative meat company's shares plummeted nearly 20% after reporting an unexpectedly high loss of 87 cents a share for the third quarter, compared to an expected loss of 39 cents a share. It also missed sales estimates, bringing in $ 106.4 million versus Wall Street's forecast of $ 109.2 million.

SoFi (SOFI) – Shares in digital bank SoFi rose 13% after reporting better-than-expected quarterly results on Wednesday night. SoFi reported a loss of 5 cents per share, compared to analyst estimates of 14 cents per share, according to Refinitiv.

Affirm (AFRM) – Buy-now-pay-later Liebling Affirms shares rose 25% in early trading after announcing an expansion of its partnership with Amazon, and posted quarterly sales up $ 269.4 million from estimates of $ 248.2 million. Affirm also reported a quarterly loss, according to Refinitiv.

Marqeta (MQ) – Shares in Marqeta, the card issuing platform behind Buy Now Pay Later brands like Affirm and Klarna, rose 11% after reporting strong quarterly results and a 60% year-over-year increase in processing volume.

The Honest Company (HNST) – The cosmetics company's shares rose about 8% after it announced quarterly results, which were in line with expectations and earnings exceeded Wall Street forecasts, Refinitiv said.

Walt Disney (DIS) – Disney shares fell nearly 5% in early morning trading Thursday after missing out on sales and earnings estimates for fiscal fourth quarter results. The media giant reported earnings of 37 cents per share on sales of 18.53 billion US dollars, compared to analyst estimates of 51 cents per share on sales of 18.79 billion US dollars, according to Refinitiv. Subscriptions to Disney + also feel short of estimates.

Bumble (BMBL) – The dating app's shares fell nearly 9% after reporting a 6 cents per share loss, 6 cents below analyst estimates, according to Refinitiv. However, the income was better than expected.

CORRECTION: This article has been updated to correct Disney's fiscal year and analyst estimates for SoFi Technology's earnings per share.

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