Uber, Spotify, Oshkosh Rise in Premarket; Darden Falls on Weak Guidance

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Uber, Spotify, Oshkosh Rise in Premarket; Darden Falls on Weak Guidance
Credit: © Reuters.

By Geoffrey Smith 

Investing.com -- Stocks in focus in premarket trading on Thursday, 24th March. Please refresh for updates.

  • Uber (NYSE: UBER ) stock rose 5.7% to its highest in over three weeks as the company announced it would list all licensed New York City taxicabs on its app, the biggest such partnership deal it has made in the U.S. The move represents a big departure from a previous policy of head-on competition, and comes as the company struggles with driver availability in a tightening labor market.
  • Oshkosh (NYSE: OSK ) stock rose 5.8% after the U.S. Postal Service announced an order worth $2.98 billion for 50,000 of its electric-powered delivery vans.
  • Spotify (NYSE: SPOT ) stock rose 4.3% after the streaming company ended a dispute with Alphabet (NASDAQ: GOOGL ) over the fees it pays to be included in the Google Play app store. Match Group (NASDAQ: MTCH ) – another company in dispute with Alphabet – rose 3.7% in sympathy.
  • Darden Restaurants (NYSE: DRI ) stock fell 2.2% after the owner of Olive Garden disappointed with its full-year guidance. It now sees EPS of $7.30-$7.45, rather than the $7.50 consensus.
  • Traeger (NYSE: COOK ) stock fell 17% after the maker of wood pellet-fueled grills predicted a sharp slowdown in growth due to what it called “the impact of inflationary pressures and geopolitical turmoil on consumer sentiment and discretionary spending.” The company’s revenue guidance of $850 million was more than $100 million below consensus forecasts, while its EBITDA forecast was also some 30% below the street’s.
  • Hello Group (NASDAQ: MOMO ) stock fell 10.7% after the Chinese gaming and social media group, formerly known as Momo, reported earnings below forecasts for the latest quarter. Revenue was in line, however.
  • FactSet Research  (NYSE: FDS ) stock rose 2.2% after the company’s latest quarterly profit came in 10% ahead of expectations at $3.27 a share. The data provider also issued full-year EPS guidance of around $12.95, some 40c above the street.

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