Check out the companies making headlines before the bell:
Expedia ( EXPE ) — Shares of the travel website operator rose 5.4% in premarket trading after Expedia beat both top and bottom estimates in its latest quarterly report. Travel demand was strong, lodging revenue was up 57% from a year ago, and airfare revenue was up 22%.
Block ( SQ ): Shares of the payment services company fell 6.4% in premarket trading, despite reporting better-than-expected quarterly results. The drop comes as Block reports a 34% drop in revenue in its cash apps unit.
Lyft (LYFT): The ride-hailing service’s stock jumped 7.5% in premarket action after reporting a surprise quarterly profit and seeing ridership rise to levels highest since before the pandemic. Lyft said its results were also helped by cost controls.
DoorDash ( DASH ): DoorDash rose 10.3% in premarket after the food delivery service raised its forecast for gross order value, a key metric. DoorDash reported a wider-than-expected quarterly loss, but revenue came in above Wall Street forecasts.
DraftKings ( DKNG ) — The sports betting company reported better-than-expected revenue and adjusted earnings for its latest quarter, and also raised its full-year revenue forecast. Shares of DraftKings rose 8.2% in premarket action.
AMC Entertainment (AMC) – Shares of the movie theater operator fell 9% in premarket after it said it will issue a stock dividend to all common shareholders in the form of preferred stock. Separately, AMC reported a slightly larger than expected quarterly loss.
Warner Brothers Discovery ( WBD ) — Shares of the media company fell 11.6% in premarket trading after it reported a quarterly loss and revenue that fell short of Wall Street forecasts.
Beyond Meat ( BYND ) — The maker of plant-based meat alternatives reported a wider-than-expected quarterly loss and revenue that missed analysts’ estimates. Beyond Meat also announced that it would lay off 4% of its global workforce. Shares fell 3.6% in premarket action.
Carvana (CVNA) – Shares of Carvana rose 8.4% in premarket trading after the online used vehicle seller said it was “aggressively” cutting costs as it prepares for a possible economic downturn.
Virgin Galactic (SPCE): Virgin Galactic fell 14.2% in premarket after announcing a delay in the commercial launch of space flights until the second quarter of 2023. Virgin Galactic also said it would sell up to $300 million in shares to increase their cash. reservations