Check out the companies making headlines in premarket trading.
Uber said it is “currently responding to a cybersecurity incident” after reports a hacker compromised its systems.
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Uber Shares of the ride-hailing app soared more than 7% after it was posted fourth quarter earnings It topped analyst estimates. Refinitiv data showed Uber earned 29 cents per share, beating analysts’ estimates for a loss of 18 cents. Uber’s revenue for the quarter was up 49% year-over-year. CEO Dara Khosrowshahi said Uber ended 2022 with its “strongest quarter ever”, capping off its “strongest year”.
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Chipotle Mexican Grill — Shares of the fast casual restaurant chain fell more than 5% on disappointing quarterly results. Chipotle said customers pulled back on its restaurant spending during the fourth quarter. “As we got around the holidays, we didn’t see that pop, that momentum that we typically see,” CFO Jack Hartung said on a conference call.
Microsoft – This was followed by the Xbox maker rising 1.6% released a new AI-powered homepage for its Bing search engine.
Lumen Technologies – The cloud network data company lost 17% premarket after reporting Fourth quarter loss of $3.1 billion (including the $3.3 billion goodwill writedown), and adjusted EPS of 43 cents versus 51c a year ago. This year’s adjusted earnings guidance missed StreetAccount estimates.
fortinet — Shares of the cybersecurity company soared 11% in the most recent quarter after beating analyst estimates by five cents per share, according to StreetAccount.
Under Armour — The athletic apparel retailer jumped nearly 8% after reporting fiscal third-quarter earnings that beat expectations. Under Armor earned adjusted EPS of 16 cents, versus Street account estimates of 9 cents. Revenue also topped estimates.
TripAdvisor — The online travel company’s stock jumped 5% after Bank of America upgraded it to double to buy. The bank expects an upside of about 60% for TripAdvisor as consumers book more travel.
enphase energy — The solar company rose 8.5% after posting fourth-quarter adjusted earnings of $1.51 per share versus the $1.27 estimate, on revenue of $725 million versus the $707 million estimate, according to StreetAccount.
Illumina Shares of the biotechnology company declined nearly 3%. fourth quarter earnings Showing quarterly revenue of $1.08 billion, down 10% year-over-year.
— CNBC’s Fred Imbert, Tanya Machel contributed reporting