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Doximity and Toast rally premarket; Pinterest, Airbnb, DraftKings fall

by November 8, 2024
written by November 8, 2024

Investing.com — US stock futures are mixed on Friday as investors try to extend the post-election rally. Premarket, the larger moves have been dominated by investor reactions to the latest earnings releases.

Here are some of the biggest premarket US stock movers today:

Pinterest (NYSE:PINS) shares have tumbled around 13% after the social media firm reported its latest quarterly earnings, with earnings topping estimates but guidance coming in softer than expected.

Five9 (NASDAQ:FIVN)‘s stock surged 22.8% on the back of its earnings release, which saw the company beat consensus earnings and revenue expectations and provide better-than-expected full-year earnings and revenue guidance.

Airbnb has tumbled more than 7% after missing consensus estimates. Analysts pointed to a below-Street margin outlook for the fourth quarter as a point of concern.

Doximity’s premarket rise of over 38% was prompted by the company’s impressive quarterly results, with an earnings and revenue beat and guidance way above consensus expectations.

Despite reporting an earnings and revenue beat, DraftKings (NASDAQ:DKNG) is down over 5% after the gambling company cut its 2024 revenue guidance to between $4.85 billion and $4.95 billion, down from $5.05 billion to $5.25 billion due to “the impact of customer-friendly sport outcomes early in the fourth quarter.”

Upstart (NASDAQ:UPST) is another company making a strong move higher premarket, currently up more than 17% after its latest earnings release, which impressed investors. Its Q4 revenue guidance of $180 million also beat the consensus estimate of $162.3 million.

Toast (NYSE:TOST) missed earnings expectations, but its Q3 revenue topped estimates, sending its shares 13% higher in premarket trading. Following the release, several Wall Street analysts lifted their targets for the stock.

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