Today’s Top Performers
Top stock gainers
Beyond Meat (NASDAQ:BYND) shares rose 63% after announcing better-than-expected Q4 sales and second-half margin acceleration. The business expects Q1 revenues of $70M to $75M, down from $85.9M. In FY2024, the business predicted revenues of $315M to $345M, compared to the consensus of $344.41M, and a gross margin in the mid- to high teens, rising in the second half. Beyond Meat wants to raise pricing and “steeply reduce” costs this year.
Bitcoin’s five-day rise beyond $59,000 boosted cryptocurrency-linked equities premarket on Wednesday. Bit Digital (NASDAQ:BTBT) rose 7.7%, Cleanspark (NASDAQ:CLSK) 8.9%, Cipher Mining (NASDAQ:CIFR) 6.4%, Coinbase (NASDAQ:COIN) 8%, Marathon Digital (NASDAQ:MARA) 8.6%, and Riot Platforms (NASDAQ:RIOT) 5.6%.
Agilent Technologies (NYSE:A) shares rose 4% after its better-than-expected FQ1 earnings announcement. Company Q2 projection fell short of market expectations. Agilent expects second-quarter sales of $1.560B to $1.590B, below the average of $1.62B. The Q2 non-GAAP EPS prediction is $1.17–$1.20, below the consensus of $1.27. However, Agilent reaffirmed its FY2024 sales projection of $6.71B to $6.81B, matching the consensus of $6.77B. The business maintained its non-GAAP profits outlook for the year at $5.44 to $5.55 per share, compared to the consensus of $5.50.
eBay (NASDAQ:EBAY) shares rose over 3% after reporting strong Q4 earnings and raising the dividend by 8%. Gross merchandise volume rose 2% year-over-year to $18.6B, above the company’s projection range of $18B to $18.3B and the average estimate of $18.2B. In Q1, eBay predicts organic FX-neutral growth of 0% to +2% with sales between $2.50B and $2.54B, slightly above the average estimate of $2.53B. EPS is expected to be $1.19–$1.23, above the average expectation of $1.13.
Top stock losses
Despite subscriber growth, Bumble’s (NASDAQ:BMBL) shares plummeted 9% in Q4 after missing top and bottom line expectations. The business predicted Q1 sales of $262M to $268M, below the average expectation of $277.8M, and EBITDA of $67M to $70M. Bumble predicts FY2024 revenue growth of 8–11%, compared to Street projections of 13% or higher.
as a strong Q4 report, Lemonade (NYSE:LMND) shares fell 16% as the insurer announced intentions to quadruple its growth budget but doesn’t anticipate Q1 or full-year sales to meet analyst projections. It will invest $55M in 2024, increasing the force premium by 50% over 2023. Most analysts forecast Q1 sales of $119.5M to $115.5M, but it expects $111M-$113M. From -$29M in the previous quarter, adjusted EBITDA is predicted to rise to -$43M to -$41M. FY2024 revenue is expected to reach $505M-$510M, adjusted EBITDA -$160M to -$155M, and in-force premium $938M-$942M.
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Today’s Top Performers Today’s Top Performers
Today’s Top Performers Today’s Top Performers