October 7, 2022

La Ronge Northerner

Complete Canadian News World

The Honest Company, Rivian, Illumina, etc.

The Honest Company, Rivian, Illumina, etc.

Check out the companies making headlines before the bell:

honest company (HNST) — The Honest Company stock rose 1.6% in the primary market despite a larger-than-expected quarterly loss. The natural consumer products maker now sees a larger full-year loss than previously thought, due to cost pressures, but expects an improvement over the year, including positive fourth-quarter adjusted earnings.

Rivian Cars (RIVN) — Shares of Rivian fell 1% in pre-market trading after the electric vehicle maker extended its estimate of its losses for 2022. It also reiterated previous production guidance.

Illumina (ILMN) — Illumina fell 14.7% in the primary market after the genetic sequencing technology company reported less-than-expected quarterly earnings and revenue, and issued a forecast well below analyst estimates. Illumina said the challenging economic environment is offsetting the growth in use of its genetic sequencing platform.

Toast (TOST) — Toast rose 12.9% in pre-market activity after the restaurant payment technology company raised its full-year earnings forecast. Toast reported a quarterly loss, but it was narrower than analysts expected, with Toast citing a record number of new sites using its technology.

Bushmark (POSH) — Poshmark fell 1.4% in the primary market after the online fashion retailer issued weaker-than-expected revenue guidance for the current quarter. Poshmark posted a loss last quarter due to increased marketing and research and development expenses, but sales were better than analysts had expected.

Wheels (UP) — The private jet company’s stock added 2% in pre-market activity after it reported better-than-expected quarterly revenue, although its loss was slightly larger than expected. Wheels Up also saw a 16% jump in active users.

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Olu (OLO)–Olo fell 33% in premarket trading after the restaurant software maker released a weaker-than-expected report for the current quarter and full-year revenue forecasts.

LegalZoom (LZ) – LegalZoom added 2.1% in the primary market after the online legal forms resource reported better-than-expected quarterly earnings.