Stocks making the biggest moves premarket: Honest Company, Rivian, Illumina and others

Market Insider

In this article

Check out the companies making headlines before the bell:

Honest Company (HNST) – Honest Company’s stock rose 1.6% in the premarket in spite of a wider-than-expected quarterly loss. The natural consumer products maker now sees a wider full-year loss than previously thought, due to cost pressures, but expects improvement as the year goes on, including positive adjusted earnings for the fourth quarter.

Rivian Automotive (RIVN) – Rivian shares fell 1% in premarket trading after the electric vehicle maker widened its loss estimate for 2022. It also affirmed prior production guidance.

Illumina (ILMN) – Illumina tumbled 14.7% in the premarket after the gene-sequencing technology company reported quarterly profit and revenue that was lower than expected, and issued an outlook that was well short of analyst estimates. Illumina said a challenging economic environment is offsetting growth in the use of its gene-sequencing platform.

Toast (TOST) – Toast surged 12.9% in premarket action after the restaurant payment technology company raised its full-year earnings outlook. Toast reported a quarterly loss, but it was narrower than analysts had predicted, with Toast noting a record number of new locations using its technology.

Poshmark (POSH) – Poshmark fell 1.4% in the premarket after the online fashion retailer issued weaker revenue guidance than expected for the current quarter. Poshmark reported a loss for its latest quarter on increased marketing and research and development expenses, but sales were better than analysts had anticipated.

Wheels Up (UP) – The private jet company’s stock added 2% in premarket action after it reported better-than-expected quarterly revenue, although its loss was slightly wider than anticipated. Wheels Up also saw a 16% jump in active users.

Olo (OLO) – Olo plunged 33% in premarket trading after the restaurant software maker issued a weaker-than-expected current quarter and full-year revenue outlook.

LegalZoom (LZ) – LegalZoom added 2.1% in the premarket after the purveyor of online legal forms reported better than expected quarterly earnings.

Articles You May Like

The Best Stocks to Buy Next Year as Inflation Dies
Stocks making the biggest moves premarket: Marvell Technology, Horizon Therapeutics, DoorDash and more
No, the Meta Materials Spin-Off Is NOT a Reason to Buy MMAT Stock.
Ouch! 3 Stocks That Suffered Under the Hands of New CEOs
Stocks making the biggest moves midday: Apple, DraftKings, Biogen, Williams-Sonoma and more