Here are some of the top movers during premarket trading on Thursday.
1. Pinterest PINS | Up +6%
2. Zillow Group ZG | Up +12%
3. Uber UBER | Down -1.7%
Shares of Uber (UBER) - Get Report dropped early Thursday even after the ride-hailing giant on Wednesday reported a narrower fourth-quarter loss, helped by a strong showing in its food-delivery business.
Uber said mobility gross bookings were 43% lower in January. However, its ts delivery business bookings more than doubled (up 130%) to $10.05 billion.
JPMorgan raised its price target on Uber to $72 from $64.43.
4. Kraft Heinz KHC | Up +1.75%
Chief Executive Miguel Patricio said the move will allow Kraft to focus on areas with greater growth possibilities. The business contributed about $1.1 billion to Kraft's sales in fiscal 2020.
5. Pepsi PEP | Up +0.45%
Pepsi reported adjusted earnings of $1.47 a share ahead of analysts' estimate of $1.46 a share. Revenue increased 8.8% to $22.46 billion, beating the FactSet consensus of $21.80 billion.
We ended the year on a strong note with our global beverage business having accelerated while our global snacks and food business remained resilient in the fourth quarter," said Chief Executive Ramon Laguarta.
6. Molson Coors TAP | Down -5.3%
"While uncertainty and on-premise challenges remain, particularly in Europe, we anticipate 2021 to be a year of both top-line growth, and of investment," said Chief Financial Officer Tracey Joubert.
7. Sundial Growers SNDL | Up +46.5%
Shares of Sundial Growers (SNDL) - Get Report jumped Thursday in premarket trading after the cannabis sector was riding the wave created by Reddit's WallStreetBets and its availability to buy on Robinhood, while other names are not available.