Stocks making the biggest moves premarket: Netflix, AT&T, Tesla, EBay, AMD and more
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Check out the companies making headlines before the bell. Netflix — Netflix’s stock price jumped 9.2% after topping analysts’ revenue and subscriber growth expectations during the fourth quarter. The streaming giant added 13.1 million subscribers during the quarterly period, reaching a record 260.8 million in paid subscribers. ASML — Shares of the Dutch chip firm gained 6.8% after the company beat expectations on revenue and profit. The company’s CEO forecasted sales for this year to be similar to last year, but that there will be “significant growth” for 2025. Texas Instruments — Shares of the technology company fell more than 3% after it missed revenue estimates for the fourth quarter. The company reported $4.08 billion in revenue, below the $4.12 billion projected by analysts, according to LSEG. The company’s first quarter guidance for revenue and earnings per share also came in below expectations. SAP — The German software stock jumped 7.3% after saying on Tuesday that, as part of restructuring efforts for this year, the company aims to implement voluntary buyouts or enable job changes for 8,000 employees. SAP’s headcount should remain the same at year end, the company said. Dupont de Nemours — Shares plunged 11.6% after the chemical company preannounced fourth-quarter and first-quarter results that disappointed analyst expectations. Dupont guided for fourth-quarter revenue of $2.90 billion, less than FactSet’s estimate of $3 billion. The company’s first-quarter adjusted earnings guidance of between 63 cents to 65 cents per share was also below the current expectation of 88 cents. Meanwhile, the company also guided for first-quarter revenue lower than the analyst consensus. EBay — Online marketplace EBay gained more than 3% after announcing plans on Tuesday to lay off 9% of the company’s workforce, or about 1,000 full-time jobs, over the coming months. EBay’s CEO said that the company’s “overall headcount and expenses have outpaced the growth” of its business. Tesla — The electric vehicle stock added 1.3% ahead of its quarterly earnings due after market close on Wednesday. Fourth-quarter revenue is expected to come out at $25.63 billion and earnings at 73 cents per share, according to FactSet consensus estimates. AT & T — The stock slumped about 4% after AT & T posted a fourth-quarter earnings miss. The company also forecasted lower-than-expected adjusted earnings for 2024, falling short of analysts’ expectations according to FactSet. AT & T did, however, slightly beat revenue expectations for the fourth quarter and said it expects to deliver adjusted EPS growth in 2025. Advanced Micro Devices — Shares of the chipmaker advanced 2% following an upgrade by NewStreet Research to buy. The firm said AMD is the best way to play datacenter AI chips if AMD’s forecast of a $400 billion addressable market by 2027 bears out. — CNBC’s Jesse Pound, Lisa Kailai Han, Michelle Fox Theobald contributed reporting.
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