Walmart, DoorDash, Cisco Rise Premarket; Fastly, TripAdvisor Slump
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Thursday, February 17th. Please refresh for updates.
DoorDash (NYSE:DASH) stock soared 24% after the food delivery company posted strong revenue growth in the fourth quarter, continuing to see demand despite the end of pandemic restrictions on brick-and-mortar restaurants.
Walmart (NYSE:WMT) stock rose 2.2% after the retail giant forecast full-year profit and U.S. sales above market expectations, signaling steady demand even as supply-chain issues and surging inflation pressure the retail giant's margins.
Amazon (NASDAQ:AMZN) stock rose 0.4% after the online retail giant ended its dispute with Visa (NYSE:V), up 0.9%, allowing its customers to use the payment provider in the U.K. while other surcharges imposed in Australia and Singapore, introduced last year, will be dropped.
Fastly (NYSE:FSLY) stock slumped 30% after the cloud-software company forecast a bigger slowdown in growth in 2022, than had been expected. It also expects to lose money in the first quarter.
Cisco (NASDAQ:CSCO) stock rose 3% after the tech conglomerate raised its full-year earnings forecast, expecting to benefit from higher prices. It also announced a $15 billion increase to its stock repurchase program.
Nvidia (NASDAQ:NVDA) stock fell 1.9% after the chipmaker reported flat margins in the fourth quarter, raising concerns over its exposure to cryptocurrency mining.
Yum! Brands (NYSE:YUM) stock rose 0.2% after Cowen upgraded its stance on the parent of KFC to ‘outperform’ from ‘market perform’, saying consensus earnings expectations are too low.
Meta Platforms (NASDAQ:FB) stock fell 0.6% after Alphabet’s Google (NASDAQ:GOOGL), down 0.7%, said it will stop cross-app tracking, another blow to Facebook's ability to sell targeted ads.
TripAdvisor (NASDAQ:TRIP) stock fell 8.5% after the hotel search website operator posted a surprise fourth-quarter loss, even after Covid restrictions were lifted and travel returned.
Hasbro (NASDAQ:HAS) stock rose 6.1% after the Wall Street Journal reported that activist investor Alta Fox Capital Management nominated five directors to the toymaker’s board, saying the stock has been underperforming the market.
Albemarle (NYSE:ALB) stock slumped 11% after the lithium miner beat expectations with its fourth-quarter earnings but warned that its future capital expenditure will be higher than previously planned.
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