Stocks making the biggest moves premarket: Starbucks, Shopify, Roku and more

Published Thu, Nov 2 20238:23 AM EDT

Check out the companies making headlines before the bell. Starbucks — Shares of the coffee giant jumped 5.6% after Starbucks' quarterly earnings and revenue exceeded analysts' expectations. The company's same-store sales also rose by 8%, driven by higher average checks and a 3% increase in customer traffic to Starbucks cafes. Domestic locations outperformed. SolarEdge — The solar stock plunged 16.6% after SolarEdge posted dismal third-quarter results and drastically lowered its outlook for the current quarter's revenue. SolarEdge was downgraded on Thursday by multiple firms, including Truist, BMO Capital Markets and Guggenheim. Shopify — Shares skyrocketed 17.2% after Shopify's earnings raced past Wall Street's expectations. The company reported third-quarter earnings of 24 cents per share, excluding items, on revenue $1.71 billion. Analysts polled by FactSet expected earnings of 15 cents per share on revenue of $1.67 billion. Qualcomm — Shares of the wireless tech company gained 5.6% after Qualcomm surpassed analysts' revenue and earnings estimates in its fiscal fourth quarter. Palantir — Shares popped 14% after the company posted better-than-expected third-quarter numbers and raised its revenue guidance to between $2.216 billion and $2.22 billion for the full year. DoorDash — The food delivery company rallied 11% after posting better-than-expected quarterly results. DoorDash reported a loss of 19 cents per share on $2.16 billion in revenue. Analysts had been expecting a loss of 40 cents per share on $2.09 billion revenue, according to LSEG. Uber , Lyft — Shares of the rideshare companies rose after Uber and Lyft agreed to pay a total of $328 million to settle wage-theft allegations from drivers in New York state. Uber rose 3.8% while Lyft added 2.5%. Roku — The streaming video platform stock surged 18% after Roku's third-quarter revenue and fourth-quarter guidance topped expectations. The company generated $912 million in revenue, compared to the $855 million predicted by Wall Street analysts, according to LSEG, as active accounts rose above 75 million. Roku's fourth-quarter guidance for revenue and a key profitability metric also topped expectations, according to Street Account. Peloton — Shares of Peloton plunged about 6.4% in premarket trading after the company reported a larger-than-expected quarterly loss of 44 cents per share on revenue of $595.5 million, while analysts polled by LSEG had called for 34 cents per share on revenue of $591 million. The company also gave a tepid holiday forecast. Airbnb — Shares of the vacation rental platform shed 1.7% in early trading after the company announced that its fourth-quarter revenue will range between $2.13 billion to $2.17 billion, falling short of a consensus FactSet analysts' estimate of $2.18 billion. Airbnb's booked nights in the fourth quarter will moderate compared to the prior three-month period, the company said. Moderna — Shares sank nearly 7% after the drugmaker reported a steep earnings loss for the third quarter. Moderna said it had a large write-down because of unused Covid vaccines. Clorox — Clorox shares soared by 11.7% after the consumer goods company exceeded on fiscal-first quarter revenue numbers, posting revenue of $1.39 billion while analysts had called for estimates of $1.31 billion. e.l.f. Beauty — The cosmetics and skincare company popped 14.2% after surpassing Street expectations and raising its full-year guidance for the second quarter in a row. For the second fiscal quarter, e.l.f. Beauty posted 82 cents in adjusted earnings per share and $215.5 million in revenue, while analysts surveyed by LSEG had forecast 53 cents on revenue of $197.1 million. — CNBC's Hakyung Kim, Jesse Pound and Michelle Fox Theobald contributed reporting.