Check out the companies making headlines in premarket trading. Snap — The social media stock tumbled 32.2% on Wednesday morning, a day after the company posted worse-than-expected revenue and offered weak guidance. Snap said it was facing headwinds from the Israel-Hamas war. Alibaba — The Chinese e-commerce giant rose as much as 5% in premarket trading after it posted quarterly revenue that missed analyst estimates — 260.35 billion Chinese yuan ($36.6 billion) versus 262.07 billion yuan expected by the LSEG consensus — and hiked its share buyback program by $25 billion. The shares were last higher by less than 1%. Yum Brands — Shares slipped 1.3% after the KFC, Taco Bell and Pizza Hut parent reported fourth-quarter earnings and revenue that missed expectations. Yum’s adjusted earnings per share came in at $1.26, short of the $1.40 expected from analysts polled by LSEG. Revenue was $2.04 billion versus the consensus estimate of $2.11 billion. CVS — The stock added 1.8% after CVS surpassed Wall Street expectations for its fourth quarter, citing strength in its health services business. However, the pharmacy chain pulled back its full-year outlook due to higher medical costs. Uber — Shares slipped 1.8% despite a strong earnings report from the rideshare giant. Uber earned 66 cents per share and saw $9.94 billion in revenue, while analysts polled by LSEG expected 17 cents and $9.76 billion. Chipotle Mexican Grill — The fast-casual restaurant chain added 2.5% Wednesday, the morning after reporting stronger-than-expected earnings. In addition to beating on both top- and bottom-lines, Chipotle said restaurant traffic grew more than 7%. Ford — The automaker’s shares rallied 6% after offering stronger-than-expected guidance for 2024 while topping analysts’ expectations for the fourth quarter. Ford posted adjusted earnings of 29 cents per share on $43.2 billion in revenue. Analysts had expected adjusted earnings of 14 cents per share on $40.12 billion in…
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