Check out the companies making headlines before the market opens. Akamai Technologies — Shares fell more than 10% after the cloud company issued weak second-quarter guidance. Akamai expects adjusted earnings per share of $1.51 to $1.56 on revenue of $967 million to $986 million. Analysts polled by London Stock Exchange Group (LSEG) expected earnings of $1.63 per share on revenue of $1 billion. Sweetgreen — Sweetgreen reported first-quarter revenue of $158 million, beating LSEG’s consensus estimate of $152 million, sending the salad chain’s shares up 5%. Revenue forecasts were largely in line with expectations. Array Technologies – Solar shares gained nearly 17%. Array’s first-quarter adjusted earnings were 6 cents per share on revenue of $153.4 million. Analysts polled by FactSet expected a loss of 4 cents a share on revenue of $141.2 million. Gen Digital — Shares of the cybersecurity software company rose about 4%. Gen Digital, which owns LifeLock and Norton, reported fourth-quarter adjusted earnings of 53 cents, up 15% from the same period last year. Revenue was US$967 million, an increase of 2% year-over-year. Bumble — Shares of Bumble rose more than 2% after the digital dating platform beat first-quarter profit and revenue estimates. Bumble also increased its stock repurchase program from $300 million to $450 million. Management reiterated its full-year revenue forecast for annual growth of 8% to 11%, while the market consensus was 9.3%. Insulet — Shares of the medical device company edged lower as higher marketing expenses hurt first-quarter profit. Management expects full-year revenue growth in 2024 to be between 14% and 18%, while analysts surveyed by StreetAccount expected 15.5%. Natera — Results beat expectations, sending shares soaring more than 20%. The DNA testing company lost 56 cents per share, while analysts expected a loss of 71 cents, according to StreetAccount. Revenue of $367.7 million was also higher than expectations of $316.3 million. Full-year revenue guidance also beat consensus estimates of $1.34 billion. Unity Software — The technology stock fell 2% after posting a larger-than-expected first-quarter loss. Unity lost 75 cents per share, compared with analysts’ expectations of 63 cents, according to LSEG. Guidance for key second-quarter profit metrics also fell short of expectations. Novavax — Shares of Novavax soared 114% after the biotech company announced a multibillion-dollar deal with Sanofi to commercialize its COVID-19 vaccine and develop a combination vaccine for coronavirus and influenza. 3M — Shares of 3M rose 1% premarket after HSBC upgraded the stock to a buy rating and raised its price target to $115 a share from $91.13, citing an improving macroeconomic backdrop that it said could drive The growth of 3M. Yelp — Shares of Yelp fell about 2% after the restaurant review site issued a looser second-quarter revenue forecast after the bell on Thursday. However, Yelp’s first-quarter earnings beat expectations, while revenue was in line. — CNBC’s Tanaya Macheel, Jesse Pound and Michelle Fox contribute
