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Lyft, Expedia, Affirm fall premarket; Cloudflare rises

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Friday, February 10th. Please refresh for updates.

  • Lyft (NASDAQ:LYFT) stock slumped over 30% after the ride-hailing firm reported a surprise fourth-quarter loss and disappointing guidance as margins were pressured by rising costs.

  • PayPal (NASDAQ:PYPL) stock rose 0.5% after the payments giant forecast of better than expected full-year profit, overshadowing its warned of pressure on discretionary spending. It also announced Chief Executive Dan Schulman will retire at the end of 2023.

  • Expedia (NASDAQ:EXPE) stock fell 2.6% after the online travel booking company missed fourth-quarter expectations, hit by a spike in cancellations and bad weather near the end of the quarter.

  • Cloudflare (NYSE:NET) stock rose 8.1% after the cloud services provider reported better-than-expected fourth-quarter results and offered a strong revenue outlook.

  • JD ADRs (NASDAQ:JD) fell 3.9% after the Chinese e-commerce company announced plans to launch an “industrial version” of ChatGPT called ChatJD.

  • Affirm (NASDAQ:AFRM) stock fell 3.9% after Morgan Stanley downgraded its stance on the fintech company to ‘equal-weight’ from ‘overweight’, saying its offerings are too small for its ambitions.

  • Adidas ADRs (OTC:ADDYY) fell 0.4% after the German sportswear group warned that its dispute with rapper Ye may cause a steep loss in 2023.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.