Stocks making the biggest moves in the premarket: Wayfair, Jazz Pharmaceuticals, Cirrus Logic & more

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Take a look at some of the biggest movers in the premarket:

Wayfair (W) – The online home decor retailer nearly tripled the consensus estimate of 80 cents per share, with quarterly profit of $2.30 per share. Revenue also came in above estimates, benefiting from strong demand in its category and an overall ongoing shift toward online purchasing by consumers. Membership numbers grew by a little more than 50% from a year ago. Shares of Wayfair soared 12% in premarket trade.

Jazz Pharmaceuticals (JAZZ) – Jazz Pharmaceuticals reported quarterly profit of $4.31 per share, 27 cents a share above estimates. Revenue also came in above forecasts as well and the drugmaker raised its full-year revenue forecast. The company’s shares were up 7% in the premarket.

Cirrus Logic (CRUS) – Cirrus beat the consensus estimate of 90 cents a share, with quarterly earnings of $1.26 per share. The maker of electronic components also reported better-than-expected revenue. Cirrus announced that President John Forsyth will become CEO on Jan. 1, succeeding Jason Rhode. Shares were up nearly 8% in the premarket.

Humana (HUM) – The health insurer reported a quarterly profit of $3.08 per share, beating the $2.81 consensus estimate, with revenue above estimates as well. Humana forecast a current-quarter loss, however, due to a resumption of payouts for medical procedures that had been delayed due to the pandemic. Humana also raised its 2020 Medicare Advantage membership growth outlook. Shares of Humana were up more than 1.5% in premarket trading.

McKesson (MCK) – The pharmaceutical distributor earned $4.80 per share for its latest quarter, compared to a consensus estimate of $3.87 a share. Revenue also beat forecasts, and the company increased its full-year guidance. McKesson’s results were helped by strong demand for virus tests and personal protective equipment. McKesson shares were up nearly 4% in the premarket.

Ferrari (RACE) – The automaker reported better-than-expected earnings and revenue for its latest quarter, and said its 2020 results would come in near the upper end of the range it issued in August. Shares of the company were up 4% in the premarket.

Twitter (TWTR) – Twitter said in a Securities and Exchange Commission filing that a board committee has determined that the company’s current management structure should remain in place, seen as a reprieve for CEO Jack Dorsey. It also suggested changes to Twitter’s board structure to give a larger voice to shareholders. Twitter plans to begin a previously announced $2 billion share buyback program this quarter. Twitter shares edged 1% higher in the premarket.

Mondelez (MDLZ) – Mondelez beat estimates by a penny a share, with quarterly earnings of 63 cents per share. The maker of Oreo cookie and other snacks saw its revenue top forecasts as well. Mondelez continued to benefit from stay-at-home consumers stocking up on its snacks. The company also plans to reinstate its share buyback program this quarter. Shares of the company slipped about 1% in premarket trade.

Royal Caribbean (RCL) – Royal Caribbean extended cruise cancellations through the end of the year, amid an increase in global virus cases. Rival Norwegian Cruise Line (NCLH) had made a similar announcement earlier on Monday. Royal Caribbean traded slightly lower premarket.

PayPal (PYPL) – PayPal reported quarterly earnings of $1.07 per share, beating the consensus estimate of 94 cents a share. The digital payment service’s revenue came in slightly above Wall Street forecasts, boosted by the ongoing increase in digital transactions. The company gave current-quarter earnings guidance that disappointed some investors, however, sending its shares more than 5% lower in the premarket.

Skyworks Solutions (SWKS) – Skyworks earned $1.85 per share for its fiscal fourth quarter, compared to a consensus estimate of $1.52 per share. The chipmaker’s revenue came in well above analysts’ projections. Skyworks also issued an upbeat current-quarter outlook, helped by the ramp-up in 5G smartphone platforms. Shares were little changed in the premarket.

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