Honest Company, Rivian, Illumina and others

Check out the companies making headlines before the bell:

Honest Company (HNST) – Honest Company stock is up 1.6% premarket despite a bigger-than-expected quarterly loss. The natural consumer goods maker now sees a larger full-year loss than previously thought due to cost pressures, but expects improvement as the year progresses, including positive adjusted earnings for the fourth quarter.

Rivian Automotive (RIVN) – Shares of Rivian fell 1% in premarket trading after the electric vehicle maker extended its loss estimate for 2022. He also confirmed previous production forecasts.

Illumina (ILMN) – Illumina tumbled 14.7% premarket after the gene sequencing technology company reported lower-than-expected quarterly earnings and earnings and released an outlook that fell far short of analysts’ estimates. Illumina said a tough economic environment is offsetting growth in usage of its gene sequencing platform.

Toast (TOST) – Toast rose 12.9% in premarket action after the restaurant payment technology company raised its full-year earnings outlook. Toast reported a quarterly loss, but it was smaller than analysts had predicted, with Toast noting a record number of new locations using its technology.

Poshmark (POSH) – Poshmark fell 1.4% in the premarket after the online fashion retailer issued a weaker-than-expected sales guidance for the current quarter. Poshmark reported a loss for its most recent quarter on increased marketing and research and development expenses, but sales were better than analysts had expected.

Wheels Up (UP) – The private jet company’s stock is up 2% premarket after it reported better-than-expected quarterly earnings, though the loss was slightly larger-than-expected. Wheels Up also saw a 16% increase in active users.

Olo (OLO) – Olo plunged 33% in premarket trading after the restaurant software maker released weaker-than-expected sales guidance for the current quarter and full year.

LegalZoom (LZ) – LegalZoom gained 2.1% in the premarket after the online legal forms provider reported better-than-expected quarterly earnings.

https://www.cnbc.com/2022/08/12/stocks-making-the-biggest-moves-premarket-honest-company-rivian-illumina-and-others.html Honest Company, Rivian, Illumina and others

Drew Weisholtz

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