In a dynamic round of premarket activity, several notable companies experienced significant stock movements on Thursday. Palantir Technologies, known for its data analytics solutions, saw its shares slide 3.8%, building on a previous 10% decline. Meanwhile, Cheesecake Factory shares dipped slightly by 1%, despite exceeding Wall Street's fourth-quarter earnings expectations. Hasbro reported earnings of 46 cents per share, excluding items, and revenue of $1.1 billion, surpassing analyst predictions of 34 cents per share and $1.03 billion in revenue.
Carvana faced a tumble of approximately 8% following mixed fourth-quarter results, adding to the day's volatility. Clearwater Analytics reported impressive earnings of 13 cents per share and $126.5 million in revenue for the fourth quarter. Meanwhile, the U.S. defense budget is projected to undergo an annual reduction of 8% over the next five years, potentially impacting defense contractors and related industries.
BioMarin Pharmaceutical experienced a 7% boost after delivering a robust fourth-quarter earnings report. The company earned 64 cents per share on revenue of $747 million, outpacing analyst forecasts. Amplitude saw its shares soar by an impressive 16.1% following its announcement of 2 cents in earnings per share and $78.1 million in revenue for the fourth quarter.
Alibaba's shares traded more than 11% higher after the Chinese e-commerce giant released quarterly results that outperformed analyst expectations. The company reported a net income of 48.945 billion yuan and revenue of 280.154 billion yuan for the quarter ended December 31. In contrast, Walmart saw an 8% decline in its stock after issuing weaker-than-expected guidance, causing concern among investors.
Shake Shack enjoyed a notable 10.8% jump in its premarket trading as the company released stronger-than-anticipated quarterly earnings. Wayfair also experienced a positive move, with its shares rising by 4% following fourth-quarter revenue that exceeded analyst expectations.
Clearwater Analytics' stock surged by an impressive 18%, driven by a robust earnings report that surpassed industry forecasts. This strong performance underscores the company's ability to deliver solid financial results in a competitive market environment.