Stock futures pointed to a modestly higher start for Wall Street on Thursday as investors weighed strong corporate earnings against concerns the rapidly spreading delta variant of COVID-19 could interrupt the economic recovery.
Here are some of the top movers during premarket trading on Thursday:
1. Robinhood Markets | Down 10%
Robinhood Markets (HOOD) - Get Robinhood Report dropped after holders filed to sell nearly 100 million shares less than a week after the stock made its Nasdaq trading debut. Enthusiasm for the stock, driven largely by the retail trading crowd, propelled shares of the online trading platform more than 125% higher over the past two days.
2. Etsy | Down 12%
Shares of Etsy (ETSY) - Get Etsy, Inc. Report tumbled as the online arts-and-crafts retailer reported slowing revenue growth for the second quarter and weaker-than-expected guidance. Etsy said it expected third-quarter revenue of $500 million to $525 million, below analysts' forecasts of $527.5 million.
3. Roku | Down 7.9%
Roku (ROKU) - Get Roku, Inc. Class A Report stock fell after the online streaming content provider reported stronger-than-expected second-quarter earnings and revenue but fell short on active accounts and streaming hours. The company also noted higher hardware costs. Streaming hours declined to 17.4 billion from 18.4 billion in the previous quarter.
4. Moderna | Down 3.1%
Shares of Moderna (MRNA) - Get Moderna, Inc. Report fell after the biotech posted stronger-than-expected second-quarter earnings, while raising its forecast for 2021 vaccine sales to around $20 billion. Revenue totaled $4.35 billion, due to around $4.2 billion in sales of its mRNA-1273 coronavirus vaccine.
5. Uber | Down 4.4%
Uber Technologies (UBER) - Get Uber Technologies, Inc. Report shares slipped after the ride-hailing company reported a wider-than-expected loss for the second quarter. The company posted a loss of $509 million, narrower than a year earlier but wider than analysts' expectations of $325 million.