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Nvidia Corp – Leading the chip group lower premarket despite a seemling positive earnings report, the company forecast current-quarter revenue above analysts’ estimates, banking on strong demand for data centers. But flat gross margins from the previous quarter and concern about Nvidia’s exposure to the crypto market pushed shares down 2.8% in after-hours trading.
DoorDash Inc – Reported quarterly revenue on Wednesday that beat estimates as food delivery demand showed no sign of slowing, indicating ordering habits have changed permanently, sending the company’s shares up 24% after the bell. In the fourth quarter ended Dec. 31, higher-than-expected consumer retention and new customer growth helped DoorDash’s revenue jump 34% to $1.30 billion and beat estimates of $1.28 billion. The San Francisco-based DoorDash also forecast first-quarter marketplace gross order value, the total value of all app orders and subscription fees, between $11.4 billion and $11.8 billion, versus $11.2 billion in the reported quarter.
Palantir Technologies – Sharply lower despite forecasting current-quarter sales above estimates on Thursday. PLTR forecast first-quarter revenue of $443 million beating estimates of $439.2 million, according to IBES data from Refinitiv. Net loss in the quarter ended Dec. 31 was $156.2 million, or 8 cents per share, compared with a loss of $148.3 million, or 8 cents per share, a year earlier. Palantir, backed by tech billionaire Peter Thiel, said fourth-quarter revenue rose 34% to $432.9 million, also surpassing expectations.
Fastly Inc – Lower after a weak forecast saying FY22 revenue will be between $400 mln and $410 mln vs estimates of $419 mln. Also expects adj loss per share of 60 cents to 70 cents vs est for loss of 48 cents. Multiple PT cuts on the stock.
Upstart Holdings – Continues its post-earnings rally up another 4% premarket, multiple positive notes on the stock.
Fisker Inc – Said in its earnings call that the company is still on track to start production of the Ocean SUV in November, with reservations for its first electric vehicle jumping to 31,000. The EV startup said production of prototypes have started at the Fisker Ocean assembly facility, which is operated by automotive manufacturer Magna Steyr’s factory in Graz, Austria. There are 1,600 fleet reservations for the Ocean, including an incremental 200-unit order from software company ServiceNow. Fisker reported $6.3 million in deposits by the end of 2021. Given that it charges $250 for Ocean SUV deposits, the company likely had about 25,000 reservations at the close of 2021.
Tesla Inc – Lower premarket after the US Auto Safety Agency said it has launched a preliminary investigation into 416000 of the company’s vehicles after reports of unexpected activation of the braking system.
Cisco Systems – Topped EPS estimates with adjusted quarterly earnings of 84 cents per share. The networking equipment and software maker also reported better-than-expected revenue and issued an upbeat full-year forecast.
Walmart Inc – Shares of the world’s largest retailer are higher after it forecaste FY profit above expectations, in a sign that the retailer is seeing steady demand at stores despite supply chain hurdles and inflationary pressures. The company said it now expects fiscal 2023 adjusted EPS to grow 5%-6% vs Refinitiv estimates of a 4.4% increase. WMT also reported a surprise rise in Q4 net revenue, while analysts were expecting a 0.4% drop.
Marin Software – Announced on Wednesday that brands using MRIN’s MarinOne software can now add advertising on video-focused social media TikTok to their digital campaigns. Integration means advertisers have better insights and improved performance of their TikTok campaigns.