Check out the companies making headlines before the bell:
DraftKings — DraftKings shares surged more than 8% after the sports betting company posted fourth-quarter results that beat expectations. The company reported a loss of 53 cents per share on revenue of $855 million. Analysts polled by Refinitiv had anticipated a loss of 59 cents per share on revenue of $800 million.
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DoorDash — The online food delivery company gained more than 5% after posting fourth-quarter revenue of $1.82 billion, topping analyst expectations of $1.77 billion, per Refinitiv. DoorDash also said it will buy back up to $750 million shares. However, the company reported a wider-than-expected loss.
Deere & Company — Shares advanced 3% after Deere exceeded expectations on the top and bottom lines in its latest quarter. The agricultural machinery maker reported per-share earnings of $6.55 on revenue of $11.4 billion. That was greater than $5.57 per share profit forecasted by analysts polled by Refinitiv, and the consensus revenue estimate of $11.28 billion.
AutoNation — Shares rose 4% after AutoNation surpassed profit and sales expectations in its fourth quarter. The car dealership company reported adjusted earnings of $6.37 per share on revenue of $6.7 billion. This was better than consensus estimates for $5.83 earnings per share on revenue of $6.52 billion, according to Refinitiv.
Roku — Shares of the streaming device company rose more than 2% after Bank of America double upgraded the stock to buy from underperform. The Wall Street firm said Roku is on a path to revenue and margin improvement and that the company has been performing better than the broader advertising market. Roku jumped 11% Thursday after the company reported a smaller-than-expected loss in its latest quarter.
Applied Materials — The semiconductor stock rose 1.5% after Applied Materials posted an earnings beat in its first quarter, and issued second-quarter guidance that topped expectations, according to consensus estimates from Refinitiv.
C.H. Robinson Worldwide — Shares fell more than 1% after JPMorgan downgraded C.H. Robinson Worldwide to underweight from neutral, saying the transportation company has more exposure to macro risks than its rivals.
Redfin — Shares of the real estate company fell nearly 5% despite a better-than-expected fourth quarter. The company reported a 57 cent per share loss on $480 million of revenue. Analysts surveyed by Refinitiv expected a loss of $1.08 per share on $445 million of revenue. Revenue was still down year over year. The company did project that its first-quarter revenue would fall between 46% and 49% year over year.
Texas Roadhouse — The restaurant chain’s stock fell more than 5% after Texas Roadhouse reported fourth-quarter earnings and revenue that missed expectations. The restaurant posted per-share earnings of 89 cents, lower than the $1.03 estimated by analysts polled by Refinitiv. It reported revenue of $1.01 billion, below the consensus estimate of $1.02 billion.
— CNBC’s Michelle Fox, Yun Li and Jesse Pound contributed reporting