A Rivian R1T electric pickup truck ahead of the company’s IPO outside the Nasdaq MarketSite in New York, U.S., on Wednesday, Nov. 10, 2021.
Check out the companies making headlines before the bell:
Tesla (TSLA) — Shares of Tesla got a roughly 2% boost after CEO Elon Musk sold about $5 billion worth of shares this week, according to financial filings submitted Wednesday. He still holds more than 166 million shares.
Rivian (RIVN) — Electric vehicle maker Rivian's shares rose more than 6% in early morning trading after the company made its trading debut on the Nasdaq Wednesday. The IPO pulled other EV stocks up with Rivian. Nio and Fisker shares gained about 2%.
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Beyond Meat (BYND) — The alternative meat company's shares tumbled almost 20% after reporting a wider-than-expected loss of 87 cents per share for the third quarter, compared with expectations of 39 cents per share loss. It also missed revenue estimates, bringing in $106.4 million versus the $109.2 million forecasted by Wall Street.
SoFi (SOFI) — Digital bank SoFi's shares jumped 13% after reporting better-than-expected quarterly results Wednesday evening. SoFi reported a loss of 5 cents per share, compared with analysts' estimates of a 14-cent loss per share, according to Refinitiv.
Affirm (AFRM) — Buy-now-pay-later darling Affirm's shares rallied 25% in early trading after announcing an expansion of its partnership with Amazon and reported a quarterly revenue beat, recording $269.4 million versus estimates of $248.2 million. Affirm also reported a quarterly loss, according to Refinitiv.
Money Report
Marqeta (MQ) — Shares of Marqeta, the card-issuing platform behind buy now pay later brands like Affirm and Klarna, jumped 11% after reporting strong quarterly results and a 60% increase in processing volume from the previous year.
The Honest Company (HNST) — Shares of the cosmetics company increased about 8% after announcing quarterly earnings that came were in line with expectations and revenue that topped Wall Street's forecasts, according to Refinitiv.
Walt Disney (DIS) — Disney shares fell nearly 5% in early morning trading Thursday after missing top and bottom-line estimates for its fiscal fourth-quarter results. The media giant reported a profit of 37 cents per share on revenue of $18.53 billion, compared with analyst estimates of 51 cents per share on revenue of $18.79 billion, according to Refinitiv. Subscriptions for Disney+ also feel short of estimates.
Bumble (BMBL) — Shares of the dating app fell nearly 9% after reporting a loss of 6 cents per share, 6 cents below analyst estimates, according to Refinitiv. Revenue, however, came in better than expected.
CORRECTION: This article has been updated to correct Disney's fiscal quarter and the analysts' estimates for SoFi Technology's per-share results.
