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Premarket Movers Thursday - Twilio, Walmart, Fastly

Stocks moving in premarket trading on Thursday include Twilio, Walmart, Fastly and Rigel Pharmaceuticals.

Stock futures declined Thursday. Bond yields steadied, though concern that rising rates could push inflation higher have been weighing on Wall Street.

Here are some of the top movers during premarket trading on Thursday.

1. Twilio TWLO | Up 9.7%

Shares of Twilio  (TWLO) spiked after the cloud-based software provider reported better-than-expected fourth-quarter sales and earnings that sparked a flurry of price-target updates from Wall Street analysts.

“The pandemic accelerated change overnight,” Jeff Lawson, Twilio co-founder and chief executive, said on a conference call with analysts Wednesday. 

“Health care had to accelerate the adoption of telemedicine and e-commerce companies accelerated their e-commerce plans. Companies that hired more developers and upped their digital game during the pandemic are not going back.”

Analysts at Piper Sandler and Keybanc Capital Markets raised their price targets on Twilio on strong results and higher sales expectations.

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2. Walmart WMT | Down 5.3%

Shares of Walmart  (WMT)  fell after the retail giant posted fourth-quarter earnings that missed analyst estimates. Walmart's same-store sales in the U.S. grew 8.6%.

Adjusted earnings for the three months ended in January came in at $1.39 a share, rising a penny from the year-earlier quarter and missing the consensus forecast of $1.50 a share.

Walmart also indicated a slowdown in sales and profit for this year.

3. Fastly FSLY | Down 7.9%

Shares of Fastly  (FSLY)  dropped Thursday morning despite reporting fourth-quarter results that topped estimates. A tepid outlook pushed shares lower. 

The company reported a fourth-quarter loss of $45.7 million, or 40 cents a share, compared with a loss of $14.1 million, or 15 cents a share, in the year-ago period. The adjusted loss was 9 cents a share, compared with 10 cents a share in the year-ago period. Revenue rose to $82.6 million from $58.9 million in the year-ago quarter. 

Analysts surveyed by FactSet had forecast a loss of 11 cents a share on revenue of $82 million.

4. Rigel Pharma RIGL | Up 24%

Shares of Rigel Pharma  (RIGL)  jumped Thursday after the company said it partnered with Eli Lilly  (LLY)  to develop inhibitors to treat immunological and neurodegenerative diseases.