Check out the companies making headlines in pre-market trading. Dropbox — Shares of the cloud storage company fell nearly 13% after the company posted lower-than-expected first-quarter revenue guidance. Dropbox now forecast revenue in the range of $627 million to $630 million, while analysts polled by FactSet expected $632.5 million. Ingersoll Rand – Shares rose nearly 6% pre-open after the industrial products company beat Wall estimates Street’s top and bottom numbers 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 had forecast earnings per share of 77 cents and revenue of $1.77 billion. Vulcan Materials – Shares of the building materials company rose more than 2% after fourth-quarter earnings were better than expected. After adjustments, Vulcan earned $1.46 per share, compared with analysts polled by FactSet expecting $1.40. Toast — Shares soared nearly 8% in premarket trading after fourth-quarter results beat Wall Street estimates for revenue and profit. The company also announced plans to repurchase shares worth $250 million and said it plans to lay off 550 employees. Applied Materials – Shares rose about 12% after the semiconductor manufacturing equipment company’s first-quarter financial results came in above consensus estimates and the company posted better-than-expected revenue guidance for the second quarter. Applied Materials estimates second-quarter revenue at about $6.5 billion, compared with estimates of $6.34 billion by analysts surveyed by FactSet. Roku — Shares fell 17% after the streaming service company reported larger A worse-than-expected fourth-quarter loss of 55 cents per share. Analysts polled by LSEG (formerly Refinitiv) forecast a loss of 52 cents per share. Roku issued an upbeat first-quarter revenue forecast that was higher than analysts’ estimates. Trade Desk – Shares soared more than 18% after the company beat revenue estimates in the fourth quarter and posted better-than-expected guidance for the first quarter. The firm estimates sales will be $478 million, exceeding LSEG’s estimate of $452 million. DraftKings — Shares fell 1% after the sports betting company missed fourth-quarter top and bottom numbers. DraftKings reported a loss of 10 cents per share, while analysts polled by LSEG estimated earnings of 8 cents per share. Revenue was $1.23 billion, slightly below the consensus estimate of $1.24 billion. DoorDash — Shares of the food delivery company fell nearly 8% after reporting a larger fourth-quarter loss than analysts expected. DoorDash reported a loss of 39 cents per share, compared with analysts polled by LSEG who had forecast a loss of 16 cents. The company beat revenue estimates and approved a $1.1 billion share repurchase program. Coinbase — Shares of the cryptocurrency brokerage rose 15% after a surprise fourth-quarter profit. Coinbase earned $1.04 per share on revenue of $954 million in the final three months of 2023. Analysts polled by LSEG had expected a loss of 1 cent per share on revenue of $822 million. Super Micro Computer shares jumped more than 6%. Wells Fargo initiated coverage of the information technology stock with an equal-weight rating, saying the artificial intelligence momentum for Super Micro will continue, although it expects the upside may already be priced in. The rating comes a day after Bank of America began coverage of the hot stock with a buy rating and a $1,040 price target. The stock is up 253% this year. Trading closed Thursday at $1,004.00. Wayfair — Shares of the online furniture retailer jumped 4.7% as sales rose amid Raymond James’ market performance. The firm said Wayfair should be approaching the lower end of demand and cost cuts should improve its cash flow. — CNBC’s Sarah Min, Michelle Fox, Jesse Pound and Alex Harring contributed reporting.
