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Check out the companies making the biggest moves premarket:
Shake Shack — Shares of the quick-service restaurant chain rose slightly after reporting a narrower loss than expected and same-store sales rose 5% year over year. Revenue was in line with expectations.
Virgin Galactic Holdings — The space travel company gained nearly 3% in the premarket, a day after its Eve mothership had its first test flight since undergoing mechanical upgrades.
Paramount Global — The entertainment stock slumped 6% in premarket trading after Paramount missed estimates on the top and bottom lines for the third quarter. After adjustments, it earned 8 cents per share on $8.13 billion of revenue. Analysts surveyed by Refinitiv were expecting earnings of 23 cents per share on $8.16 billion of revenue. The company did add 9.9 million Paramount Plus subscribers, but reported a 7% decline in advertising revenue for its TV business.
Hasbro — The toymaker ticked about 1% higher after reporting a stronger-than-expected profit. Hasbro earned $1.31 per share, excluding items, topping a Refinitiv consensus estimate of $1.29 per share. Its revenue of $1.68 billion was in-line with estimates.
Tripadvisor — The online travel company fell more than 4% in the premarket after being downgraded by Bernstein to market perform from outperform. The Wall Street firm said Tripadvisor’s strategic plan appeared more defensive than offensive. Tripadvisor outpaced fourth-quarter estimates on Wednesday.
Roku — The streaming device company rallied nearly 9% after reporting a narrower-than-expected loss of $1.70 per share, compared with $1.73 per share, per Refinitiv. Its revenue of $867 million topped estimates of $802 million.
Cisco Systems — The digital communications company gained 3.5% after it raised its outlook for the year in the wake of strong earnings. Excluding items, it earned 88 cents per share, slightly above the Refinitiv estimate of 86 cents per share….
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