Take a look at the companies making the biggest moves in the premarket: Peloton Interactive — Shares rose 15% after the fitness company announced that CEO Barry McCarthy would step down while it searches for a permanent CEO. Peloton has also developed a restructuring plan that would cut 15% of its workforce, or about 400 employees. Shares of Peloton, once a pandemic darling, fell. The stock is down 47% year to date. Qualcomm Shares rose more than 5% after the chip maker on Wednesday reported adjusted earnings of $2.44 per share for its latest quarter, beating analysts’ estimates of $2.32 per share, according to LSEG data. The top end of Qualcomm’s revenue forecast for the current quarter was higher than Street expectations, with the company citing demand for smartphones that require cutting-edge chips. Wayfair — Shares rose 5.5% after the home furniture retailer’s sales topped analysts’ estimates and trimmed its losses after laying off 13% of its employees earlier in the year, the company said Thursday. However, Wayfair’s sales fell in the first quarter. Carvana — Shares of the used car retailer jumped 36% after reporting first-quarter revenue of $3.06 billion on Wednesday, beating analysts’ consensus estimate of $2.67 billion. Morgan Stanley upgraded the stock to outperform on Thursday ” and stated that the shares could rise by 50%. Cigna – Shares of the insurer rose 1% after adjusted first-quarter earnings of $6.47 per share topped the $6.22 expected by analysts polled by LSEG. Revenue of $57.25 billion also beat the consensus estimate of $56.52 billion. Moderna – Shares rose 2% after the drugmaker reported a smaller-than-expected loss of $3.07 in the first quarter, up from a loss at $3.58 expected by analysts polled by LSEG. Revenue was $167 million, beating the consensus estimate of $97.5 million. Cardinal Health – The drug distributor lost 2% after fiscal third-quarter revenue of $54.91 billion fell below analysts’ consensus estimate of $56, according to LSEG. .05 billion But Cardinal beat expectations for adjusted earnings. Nio — U.S.-listed shares of the Chinese electric vehicle maker rose 5% after Nio said it delivered 15,620 vehicles in April, more than doubling from a year earlier. DoorDash — Shares fell 7% a day after the food delivery service said it lost 6 cents per share on first-quarter revenue of $2.51 billion, beating LSEG analysts’ consensus estimate of a loss of 4 cents per share. share, but above the average forecast. revenue was $2.45 billion. Etsy – The online marketplace lost 13.5% after first-quarter adjusted earnings of 48 cents per share fell short of the 49 cents per share expected by analysts polled by LSEG. Zillow — Shares fell 6% after the real estate market issued weak guidance for the current quarter. Zillow estimated second-quarter revenue at $525 million to $540 million, compared with $559.2 million expected by analysts polled by FactSet. eBay – Shares fell nearly 4% a day after the online commerce platform issued weak second-quarter guidance, forecasting revenue of $2.49 billion to $2.54 billion, while analysts polled by LSEG estimated revenue of $2.56 billion. Shake Shack – The fast-food chain gained 4% after adjusted first-quarter earnings of 13 cents per share beat analysts’ estimates of 10 cents per share, according to LSEG data. Revenue of $291 million was in line with estimates. Freshworks – Shares of the software company fell 27% after forecasting second-quarter revenue of $168 million to $170 million and full-year revenue of $695 million to $705 million. Analysts polled by FactSet expected $172.1 million for the quarter and $708.3 million per year. CORVO — Shares of the semiconductor company fell nearly 10% after issuing weak guidance for its fiscal first quarter, expecting earnings of 60 to 80 cents per share versus $1.27 expected by analysts polled by FactSet. — CNBC’s Jesse Pound, Lisa Khan, Pia Singh and Tanaya Machil contributed reporting.
