Check out the companies making headlines before the market opens. Trump Media & Technology Group — Shares of President-elect Donald Trump’s media company fell 4.6% in premarket trading after plunging 23% the previous day. The stock, which trades under Trump’s initials DJT, has given up on Wednesday’s gains sparked by Trump’s victory. As of Thursday’s close, it had fallen more than 9% so far this week. Upstart — The artificial intelligence-focused loan market soared 20% after third-quarter results beat Wall Street expectations. Upstart lost 6 cents per share (excluding items) for the quarter, well below analysts’ forecasts of a 15-cent loss, according to LSEG. The company generated revenue of $162 million, beating consensus estimates of $150 million. Upstart also issued a better-than-expected revenue outlook for the current quarter. Pinterest — Shares plunged about 12.6% after the online photo-sharing platform issued disappointing fourth-quarter guidance. The company expects revenue to be between $1.125 billion and $1.145 billion. The guidance’s midpoint of $1.135 billion was below consensus. Block — Shares fell 2.7% as the financial technology platform’s third-quarter revenue missed expectations. Block’s sales were $5.98 billion, below the $6.24 billion expected by analysts polled by LSEG. However, adjusted earnings per share slightly beat Wall Street expectations. Airbnb — Quarterly results were mixed, with shares down 7.3%. Airbnb’s revenue beat expectations, but earnings per share missed expectations by 1 cent. DraftKings — The sports betting stock fell 5.3% on weak third-quarter earnings and its outlook. DraftKings expects adjusted earnings before interest, taxes, depreciation and amortization for the current quarter of $240 million to $280 million, below LSEG’s forecast of $340 million to $420 million. Sweetgreen — The salad chain fell 16.5% after third-quarter profit missed expectations. Sweetgreen lost 18 cents per share on revenue of $173 million, while analysts polled by LSEG had expected a loss of 13 cents per share on revenue of $175 million. Toast — Shares of the restaurant management platform rose 14.2% on strong third-quarter results and guidance. Looking ahead, Toast expects fourth-quarter adjusted EBITDA to be in the range of $90 million to $100 million, although analysts polled by StreetAccount forecast that number to be just $74.8 million. Arista Networks – The computer networking company’s shares fell 4.9% despite posting strong earnings and announcing a 4-for-1 stock split. Arista’s third-quarter adjusted earnings per share were $2.40 on revenue of $1.81 billion, while analysts polled by LSEG forecast $2.08 and $1.74 billion, respectively. Revenue guidance also topped expectations. Lucid Group — Shares of Lucid Group rose about 5% after the electric car maker’s third-quarter results topped Wall Street expectations. The company reported an adjusted loss of 28 cents per share on revenue of $200 million, while analysts expected a loss of 30 cents per share on revenue of $198 million, according to LSEG. Capri Holdings — the parent company of Versace and Michael Kors — fell 8% on weak second-quarter results. Capri earned adjusted earnings of 65 cents per share on revenue of $1.08 billion, while analysts polled by LSEG expected earnings of 75 cents per share on revenue of $1.18 billion. Monster Beverage — Shares of the energy drink fell 5.4% after a third-quarter profit report came in worse than expected. Monster earned 40 cents per share, excluding items, on revenue of $188 billion. Analysts polled by FactSet expected earnings of 43 cents per share on revenue of $1.91 billion. Confirmation – The buy now, pay later stock fell 2.4% despite beating Wall Street estimates on both lines in the fiscal first quarter. Affirm posted an adjusted loss of 31 cents per share, below the consensus forecast of 35 cents, according to LSEG. Revenue was $698 million, higher than analysts’ expectations of $664 million. BioNTech – Shares of the U.S.-listed German biotech company rose 3.9% after Goldman Sachs upgraded its rating to buy from neutral. Goldman cited commitments related to oncology assets and said the stock could rise more than 25%. Bath & Body Works – The fragrance retailer fell 2.7% after Barclays downgraded its rating to underweight from equal weight. Barclays said the company could face sales and profit pressure in 2025.
