Several companies are making headlines in premarket trading on Tuesday, with significant movements in their stock prices. Uber saw a 2% increase in its shares after reporting third-quarter gross bookings of $35.3 billion, exceeding the company’s guidance. Switzerland-based bank UBS also recorded a more than 3% climb in its shares after posting an underlying operating profit before tax of $844 million, which surpassed consensus expectations.
Additionally, gym chain Planet Fitness experienced an 8.8% increase in its stock after beating expectations for the third quarter and raising its outlook for the year. Online ticket marketplace Vivid Seats also saw an 8.6% jump in its stock after exceeding analysts’ revenue forecasts for the third quarter, and offering strong guidance for the 2023 and 2024 full year.
Travel stock Tripadvisor added more than 10% after surpassing analyst expectations with its quarterly results. On the other hand, electronics manufacturer Sanmina’s shares tumbled 11.7% after offering weak guidance, and Coterra Energy saw a 3% rise following its earnings report and increase in full-year production guidance.
Hims & Hers Health, a telehealth company, experienced a 5% jump in premarket trading after reporting third-quarter revenue that exceeded expectations, raising its full-year guidance, and announcing a $50-million share repurchase program. Meanwhile, Peloton saw a more than 5% drop in its shares after being downgraded Deutsche Bank to hold from buy, with the firm citing a lack of clarity in the exercise-equipment market’s growth outlook.
Finally, cloud computing stock DigitalOcean advanced 6.1% following a double-upgrade to buy from sell Goldman Sachs, which referenced underappreciated structural improvements and priced-in cyclical risks as reasons for the upgrade.