Here’s a look at the companies making headlines before the bell: Lyft — Shares rose 21% after the ride-hailing company reported stronger-than-expected fourth-quarter results and issued guidance that beat expectations. In its most recent quarter, Lyft reported adjusted earnings of 18 cents per share, beating the LSEG consensus estimate of 8 cents per share. Revenue of $1.22 billion was in line with analysts’ expectations. However, Lyft shares fell to their post-market high on Tuesday as the company corrected an overstatement of its margin forecast contained in its initial press release. Robinhood Markets. Robinhood shares rose about 16.5% after the investment platform beat fourth-quarter earnings and revenue. Robinhood reported a profit of 3 cents per share on revenue of $471 million, while analysts polled by LSEG had forecast a loss of 1 cent per share on revenue of $457 million. Anji – Shares jumped 7% after home services platform reported a smaller-than-expected quarterly loss. Angi reported a fourth-quarter loss of 1 cent per share, narrower than the 2 cents per share loss expected by analysts polled by FactSet. On the other hand, revenue of $300.4 million came in below the FactSet consensus estimate of $309.9 million. DaVita — Shares rose more than 7% after the healthcare company reported fourth-quarter earnings and revenue. DaVita reported adjusted earnings of $1.87 per share on revenue of $3.15 billion. Analysts polled by FactSet expected earnings of $1.63 per share on revenue of $3.01 billion. Zillow Group – Shares rose more than up 5% in premarket trading after the real estate market reported earnings of 20 cents per share on revenue of $474 million, beating analysts’ estimates of 12 cents per share on revenue of $452 million, according to LSEG. Kraft Heinz — Shares fell more than 1% after the food company reported fourth-quarter revenue that missed expectations. Kraft Heinz reported revenue of $6.86 billion, below the LSEG consensus estimate of $6.99 billion. However, adjusted earnings of 78 cents per share were a slight improvement compared to analysts’ expectations of earnings of 77 cents per share. Akamai Technologies — Shares fell 5.4% after the server networking provider missed analysts’ fourth-quarter revenue expectations. Akamai earned $995 million, compared with the $998 million forecast by analysts surveyed by LSEG. Despite this, the company reported earnings per share of $1.69 excluding items, beating Wall Street’s expectations of $1.60. Akamai also issued guidance for the current quarter and full year, which was broadly in line with analysts’ expectations. GoDaddy – Shares of the web hosting company fell about 2% despite a fourth-quarter report that showed revenue in line with expectations. GoDaddy reported revenue of $1.10 billion, in line with estimates from analysts surveyed by FactSet. However, the company’s 2024 revenue forecast of $4.48 billion to $4.56 billion was near the lower end of expectations, which had an average estimate of $4.55 billion. SentinelOne – Cybersecurity stocks rose 6.2% in premarket trading as Bank of America upgraded its stock rating to neutral. The company said SentinelOne is benefiting from strong industry and macroeconomic trends. Cryptocurrency stocks. Stocks whose returns are linked to the price of bitcoin rose after the cryptocurrency rose to a more than two-year high and regained its $1 trillion market capitalization. Trading platform Coinbase and Bitcoin proxy Microstrategy each added 7%. Shares of mining companies Iris Energy and CleanSpark rose 17% and 14%, respectively, Marathon Digital added 12%, and Riot Platforms – 9%. Airbnb — Shares of the vacation rental property fell 4% even after posting better-than-expected earnings and upbeat guidance. Airbnb warned of some pressure on the number of nights booked in the first quarter due to tough comparisons. Upstart — Shares of the online lender fell 14% after it reported an adjusted fourth-quarter loss of 11 cents per share, less than analysts expected a loss of 14 cents per share, according to LSEG. Revenue of $140 million for the quarter beat analysts’ estimates of $135 million. Wingstop – Shares rose nearly 3% after Bernstein initiated coverage of outperforming restaurant stocks and called the company a “multi-decade growth story.” MGM Resorts International — Shares fell more than 3% even after the casino operator beat fourth-quarter revenue and profit expectations. MGM’s business in China exceeded expectations, but its casino business in the United States suffered due to a workers’ strike in Detroit. Topgolf Callaway Brands — Shares fell more than 3% after the golf company issued first-quarter revenue guidance that missed expectations. Topgolf Callaway Brands expects first-quarter revenue to be between $1.14 billion and $1.16 billion. Analysts polled by LSEG expected $1.22 billion. Ecolab — Shares of the food safety company fell 1.6%. JPMorgan downgraded Ecolab to neutral from overweight, citing the stock’s recent outperformance. It’s up more than 11% this year. However, the Wall Street firm raised its price target to $220 from $200. Ecolab shares closed Tuesday at $221.18. — CNBC’s Brian Evans, Alex Harring, Tanaya Machil, Jessie Pound, Pia Singh and Samantha Subin contributed reporting.
