Alibaba's U.S.-listed shares climbed more than 3% on the back of Apple's recent submission of Apple Intelligence features for approval by China's cyberspace regulator. The move signifies a significant step in the collaboration between two of the world's tech giants, boosting investor confidence in Alibaba's stock.
Conversely, Zillow's shares faced a decline of 5.6% after the real estate marketplace reported a revenue beat for its fourth quarter. However, the company provided weak guidance for its first quarter, forecasting revenue between $575 million and $590 million. This falls short of the $599.8 million anticipated by analysts polled by FactSet, causing concern among investors.
Super Micro Computer experienced a surge in its stock, climbing more than 10% despite cutting its fiscal 2025 full-year revenue forecast. The company now expects revenue for the period to range between $23.5 billion and $25 billion, while analysts had predicted $24.92 billion according to LSEG. This optimistic revision reassured investors about the company's long-term growth prospects.
Upstart Holdings saw a remarkable gain, with shares leaping over 26% following stronger-than-expected first-quarter guidance. The company projects revenue of $200 million for the current quarter, surpassing the $193.8 million estimate by analysts as per LSEG. Additionally, Upstart's fourth-quarter earnings and revenue exceeded analyst expectations, further bolstering investor sentiment.
Gilead Sciences also saw its stock rise, adding 4% after reporting fourth-quarter earnings and revenue that exceeded analyst expectations. This performance reaffirms Gilead's strong market position and its ability to deliver consistent financial results amid challenging market conditions.
In the healthcare sector, CVS' shares jumped more than 8% after the pharmacy operator's fourth-quarter results outperformed analyst expectations. The positive earnings report reflects CVS' robust operational strategies and market adaptability.
Meta Platforms experienced a slight increase in its stock value in premarket trading. The Facebook parent company extended its gains following a 17-day win streak, reflecting continued investor confidence in its growth trajectory and market presence.
Restaurant Brands International reported adjusted earnings of 81 cents per share on $2.3 billion in revenue for the fourth quarter. In contrast, Vertiv expects adjusted earnings per share for the first quarter to fall between 57 cents and 63 cents, compared to the 63 cents estimated by analysts polled by FactSet.
Lyft reported generating $4.28 billion in bookings in the previous quarter and anticipates between $4.05 billion and $4.20 billion for the current period. These projections illustrate Lyft's ongoing efforts to navigate an increasingly competitive ride-sharing landscape.
Compass Minerals saw its stock rally by 4.8%, buoyed by JPMorgan's upgrade to overweight from neutral. This upgrade highlights Compass Minerals' potential for growth and operational resilience in an evolving market environment.