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eBay, AB Inbev, Tesla, and Moderna Fall Premarket

Stock Markets Feb 24, 2022 13:10
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By Peter Nurse -- Stocks in focus in premarket trade on Thursday, February 24th. Please refresh for updates.

  • eBay (NASDAQ:EBAY) stock fell 9.2% after the ecommerce giant’s fourth quarter results and its annual outlook indicated that people are logging out from websites to go out to shop.

  • Booking Holdings (NASDAQ:BKNG) stock fell 7.3% after the online travel agency lagged on crucial operational parameters, including gross bookings and room nights booked, at the end of the fourth quarter.

  • Anheuser Busch Inbev (BR:ABI) (NYSE:BUD) ADRs traded 5.1% lower, weighed by the negative overall tone, even after the world's largest brewer forecast bigger profits in 2022, in line with its medium-term growth range.

  • Allbirds (NASDAQ:BIRD) stock fell 11% after the athletic shoes maker reported a quarterly loss while its view for first-quarter sales of between $60 million and $62 million was below estimates.

  • Bath & Body Works (NYSE:BBWI) stock fell 8.6% after the maker of home and body fragrances released disappointing guidance amid inflationary pressures, and announced that CEO Andrew Meslow will step down in May due to health reasons, less than a year after the company went public.

  • Tesla (NASDAQ:TSLA) stock fell 8.2% after Reuters reported that the electric car maker plans to start work on a new plant in Shanghai as soon as next month as part of a plan to more than double production capacity in China.

  • Mattel (NASDAQ:MAT) stock fell 3.6% despite Stifel upgrading its investment stance on the toymaker to “buy” from “hold”, expecting the company to soon post some of its best results in history.

  • Discovery (NASDAQ:DISCA) stock fell 5.9% despite the media firm beating expectations for quarterly revenue, buoyed by a resumption of live sports and higher advertising revenue.

  • Alibaba (NYSE:BABA) ADRs fall 4.7% after the e-commerce company reported its slowest-ever increase in quarterly revenue since going public in 2014, as tepid growth in its core e-commerce business and intensifying competition reduced sales.

  • Moderna (NASDAQ:MRNA) stock fell 5.1% despite the drugmaker raising its full-year sales forecast for its Covid-19 vaccine by 2.7%, as it seeks to ramp up manufacturing following production problems last year. It also plans to buy back $3 billion in shares.

eBay, AB Inbev, Tesla, and Moderna Fall Premarket

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