Investing.com UK - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Stocks - Lyft Falls in Premarket; Bed, Bath & Beyond Plunges

Published 12/02/2020, 13:06
Updated 12/02/2020, 13:49
© Reuters.

By Geoffrey Smith

Investing.com -- Stocks in focus in premarket on Wednesday, February 12th. Please refresh for updates.

  • 8:48 AM ET: CME Group (NASDAQ:CME) stock fell after its fourth-quarter revenue fell more than expected, due to a drop in average daily trading volumes from an exceptionally strong Q4 2018.

  • Trading volumes at the exchange operator were down by 19% on the year, but in essence only returned to the long-term trend.

  • 8:36 AM ET: Heineken (OTC:HEINY) ADRs were in focus after the company’s domestic-listed stock in Amsterdam rose 6.2% to a new all-time high in the wake of its fourth-quarter earnings report.

  • The Dutch-based brewer confirmed that operating profit would rise by around 5% this year, after casting doubt on that target in its previous update. Fourth-quarter organic sales volumes and average prices both came in above expectations.

  • The company had announced on Thursday that long-serving CEO Jean-Francois van Boxmeer will stand down in June, to be replaced by the current head of the group’s Asian business, Dolf van den Brink.

  • 8:30 AM ET: CVS Health (NYSE:CVS) stock rose 2.7% after the company posted another quarter of above-forecast earnings and revenue growth in the wake of its acquisition of Aetna (NYSE:AET) 15 months ago.

  • The company’s health benefits business more than doubled its revenue from a year earlier.

  • CVS also raised its guidance for the current year.

  • 8:13 AM ET: Bed Bath & Beyond (NASDAQ:BBBY) stock fell 26%, giving up around half of last year’s gains, after the company’s same-store sales for December and January fell 5.4%, more than the 4% expected.
    • 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

  • CEO Mark Tritton said the company was experiencing short-term pain in our efforts to stabilize the business,” with store footfall and product availability both weighing on performance.

    • 8:20 AM ET: Shopify (NYSE:SHOP) stock rose 8.0% to a new all-time high after the Canadian online retailer beat sales expectations for the fourth quarter and forecast 2020 revenue would also be above consensus estimates.

    Shopify had a particularly impressive Thanksgiving weekend, with worldwide sales of over $2.9 billion between Black Friday and Cyber Monday, up over 60% from a year earlier.

  • Around 46% of the company's free-float stock is shorted, according to data compiled by Shortsqueeze.com

    • 8:08 AM ET: Lyft (NASDAQ:LYFT) stock was down 5.2% after the company failed to revise its guidance in line with Uber’s, despite a set of quarterly numbers that matched or beat expectations on all notable operational and financial items.

    • Lyft (NASDAQ:LYFT) didn’t change its guidance that it would be profitable by the end of 2021. By contrast, Uber (NYSE:UBER) – which consistently failed to meet its own financial targets in the last couple of years – promised last week to be profitable on an underyling basis by the end of this year.

    Latest comments

    Install Our App
    Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
    Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
    Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
    It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
    Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
    © 2007-2024 - Fusion Media Limited. All Rights Reserved.