Several notable companies are experiencing significant premarket price changes, including Generac, Shopify, and La-Z-Boy.

Several notable companies are experiencing significant premarket price changes, including Generac, Shopify, and La-Z-Boy.
Several notable companies are experiencing significant premarket price changes, including Generac, Shopify, and La-Z-Boy.

Check out the companies making headlines before the bell:

Generac's stock increased by 2.6% in the premarket after the company beat its top and bottom-line estimates for the fourth quarter. The company earned an adjusted $2.51 per share, 11 cents above expectations, due to the increase in both commercial and residential sales, which exceeded 40%.

Despite reporting better-than-expected quarterly profit and revenue, Shopify fell 4% in premarket action. The e-commerce platform operator also announced that revenue growth for 2022 would be slower than the 57% it achieved in 2021.

The food maker's stock increased by 1.3% in the premarket after announcing that its adjusted quarterly profit of 79 cents per share exceeded estimates by 16 cents. Additionally, revenue was higher than anticipated by Wall Street.

La-Z-Boy's stock price dropped 12.5% in premarket trading after the company reported a quarterly profit of 65 cents per share, which was below the 89-cent consensus estimate. The company, famous for its recliners, cited multiple production issues related to Covid-19 as the reason for not being able to meet demand.

Wynn Resorts reported a quarterly loss of $1.37 per share, which was wider than the $1.25 per share loss predicted by Wall Street analysts. Despite this, the casino operator's revenue exceeded expectations. The nearly 28% decline in Wynn's Macau revenue had a significant impact on the overall results. Wynn's stock price fell 2.3% in the premarket.

The programmatic ad company's adjusted quarterly earnings of 42 cents per share, 14 cents above estimates, and revenue that topped Wall Street forecasts caused the stock to surge 10.5% in the premarket.

The hotel operator's adjusted quarterly earnings of 74 cents per share were 2 cents below estimates, while revenue exceeded expectations by more than doubling from the previous year.

ViacomCBS is changing its corporate name to Paramount Global, effective Thursday, to highlight its Paramount+ streaming service and leverage Paramount's brand recognition. Despite this, the media company reported an adjusted quarterly profit of 26 cents per share, missing the 43-cent consensus estimate. As a result, shares fell 11.3% in premarket trading.

Airbnb reported record revenue for 2021 and better-than-expected fourth-quarter results, and issued an upbeat current-quarter forecast. The home rental company benefited from consumer preferences shifting away from hotels during the pandemic and said current-quarter bookings are likely to exceed pre-pandemic levels for the first time. Airbnb shares rallied 3.5% in the premarket.

Roblox's stock price dropped 15.2% in premarket trading after the company reported a loss of 25 cents per share for its latest quarter, which was nearly double the 13-cent loss analysts had predicted. Additionally, the social gaming platform operator experienced lower-than-expected revenue, despite flat daily active user metrics and engaged gaming hours that fell short of forecasts.

Cedar Fair rejected a takeover bid from SeaWorld, despite earlier reports of an offer. Meanwhile, Cedar Fair reported better-than-expected quarterly revenue and record in-park spending by visitors. However, Cedar Fair's stock slid 12.3% in the premarket, while SeaWorld fell 4.2%.

by Peter Schacknow

markets