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Check out the companies making headlines in premarket trading. Dropbox – Shares of the cloud storage company fell nearly 13% after the company issued lower-than-expected revenue guidance for the first quarter. Dropbox now estimates revenue between $627 million and $630 million, while analysts surveyed by FactSet had expected $632.5 million. Ingersoll Rand – Shares rose nearly 6% before the opening bell after the industrial products company beat Wall Street estimates on the top and bottom lines in the fourth quarter. Ingersoll reported earnings of 86 cents per share, excluding items, on revenue of $1.82 billion, while analysts polled by FactSet expected 77 cents in earnings per share and $1.77 billion in revenue. Vulcan Materials – The construction materials company’s stock climbed more than 2% after reporting better-than-expected fourth-quarter earnings. Vulcan earned $1.46 per share after adjustments, while analysts polled by FactSet were expecting $1.40. TOAST – Shares rose nearly 8% in premarket trading after the top and bottom lines of fourth-quarter earnings beat Wall Street estimates. The company also announced a $250 million share repurchase plan and said it planned to lay off 550 employees. Applied Materials – Semiconductor Production Equipment shares rose about 12% after the company’s fiscal first-quarter results topped consensus estimates, and it issued better-than-expected revenue guidance for the second quarter. Applied Materials estimates second-quarter revenue will be about $6.5 billion, compared with analysts surveyed by FactSet, which had estimated $6.34 billion. Roku – Shares fell 17% after the streaming services company reported a bigger-than-expected fourth-quarter loss of 55 cents per share. Analysts polled by LSEG, formerly Refinitiv, had expected a loss of 52 cents per share. Roku issued an optimistic first-quarter revenue forecast that topped analysts’ estimates. The Trade Desk – Shares rose more than 18% after the company beat fourth-quarter revenue estimates and issued better-than-expected guidance for the first quarter. The firm estimates sales will be $478 million, higher than LSEG’s estimate of $452 million. DraftKings – Shares fell 1% after the sports betting company missed the top and bottom lines in the fourth quarter. DraftKings reported a loss of 10 cents per share, while analysts polled by LSEG expected a profit of 8 cents per share. Revenue was $1.23 billion, slightly below the consensus estimate of $1.24 billion. DoorDash – The food delivery company’s stock fell nearly 8% after reporting a bigger-than-expected loss in the fourth quarter. DoorDash reported a loss of 39 cents per share, while analysts polled by LSEG expected a loss of 16 cents. The company beat revenue estimates and authorized a $1.1 billion share repurchase program. Coinbase – The crypto brokerage stock surged 15% after a surprise fourth-quarter profit. Coinbase earned $1.04 per share on $954 million in revenue for the final three months of 2023. Analysts polled by LSEG were expecting a loss of 1 cent per share on $822 million on revenue. Super Micro Computer – Shares jumped more than 6%. Wells Fargo initiated coverage of the information technology stock with an Equal Weight rating, saying artificial intelligence momentum will continue for Super Micro, although it expects the price may already be rising. This rating comes a day after Bank of America initiated coverage. Hot stock with a buy rating and a $1,040 price target. Shares are up 253% this year. It closed at $1,004.00 on Thursday. Wayfair – The online furniture retailer’s stock rose 4.7% on a strong buy upgrade from Raymond James’ Market Perform. The firm said Wayfair should be closer to the bottom of demand, while cost cutting should help its cash flow. — CNBC’s Sarah Min, Michelle Fox, Jesse Pound and Alex Haring contributed reporting.
