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Peloton, DraftKings Slump Premarket; Pfizer, Airbnb Rise

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  • PTON
  • PFE
  • ABNB
  • DKNG
  • GOOS
  • UBER
  • SQ
  • SHAK
  • PZZA
  • LYV

By Peter Nurse 

Investing.com — Stocks in focus in premarket trade on Friday, November 5th. Please refresh for updates.

Peloton (NASDAQ:PTON) stock slumped over 30% after the exercise equipment maker cut its annual revenue guidance by as much as $1 billion as the pandemic-era boom for home fitness fades rapidly.

Uber (NYSE:UBER) stock rose 2.4% after the ride-hailing firm reported its first profitable quarter on an adjusted basis since it launched more than a decade ago; it made $8 million before interest, taxes, depreciation, amortization and other items. Those other items included a writedown of over $2 billion on its equity holdings, chiefly in its Chinese peer Didi Global (NYSE:DIDI). The net loss was $2.4 billion.

Pfizer (NYSE:PFE) stock rose 11% after the drug maker said its Covid-19 pill, used in combination with a widely-used HIV drug, cut the risk of hospitalization or death by 89% in high-risk adults.

Canada Goose (NYSE:GOOS) stock rose 7.6% after the winter clothing manufacturer beat quarterly revenue estimates, helped by surging online sales of its luxury parkas.

Pinterest (NYSE:PINS) stock rose 3.7% after the image-sharing company forecast strong fourth-quarter revenue growth, helped by online retailers buying ads before the holiday season.

Airbnb (NASDAQ:ABNB) stock rose 5.9% after the home rental company reported a surge in quarterly revenue, boosted by a rebound in global travel amid rising vaccination rates.

Square (NYSE:SQ) stock fell 3.6% after the digital payments company reported slowing growth in its peer-to-peer payment service Cash App, even as third-quarter gross profit was boosted by a jump in bitcoin transactions.

Papa John's (NASDAQ:PZZA) stock fell 3.7% after Deutsche Bank (DE:DBKGn) downgraded its investment stance on the pizza firm to ‘hold’ from ‘buy’, saying a big run may be coming to an end.

Shake Shack (NYSE:SHAK) stock rose 7.6% after BTIG upgraded its stance on the burger chain to ‘buy’ from ‘neutral’, saying its recovery is ramping up.

DraftKings (NASDAQ:DKNG) stock slumped 8.8% after the sports-betting company reported a wider-than-expected third quarter loss even while stating that it expected a strong 2022.

Live Nation (NYSE:LYV) stock rose 6.2% after the entertainment promoter returned to posting a profit as live events were scheduled again in the wake of the pandemic.

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