Airbnb, Twilio and Virgin Galactic fall premarket; Rivian rises

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

• Airbnb (NASDAQ:ABNB) stock fell 15% after the holiday rental booking company disappointed with its guidance, forecasting fewer bookings and lower average daily rates in the second quarter versus a year earlier.

• Rivian (NASDAQ:RIVN) stock rose 8.5% after the EV manufacturer beat estimates for quarterly revenue as it sold more higher-priced electric vehicles, and stood by its annual production forecast of 50,000 cars.

• Twilio (NYSE:TWLO) stock fell 18.3% after the cloud service provider forecast weaker than expected second quarter revenue, citing shrinking demand for cloud services.

• Virgin Galactic (NYSE:SPCE) stock fell 3.9% after the space tourism company reported a widening of its loss in the first quarter, adding that it is aiming to fly its first spaceflight in nearly two years later this month.

• Livent (NYSE:LTHM) stock rose 0.1% after Australian lithium miner Allkem agreed to buy the U.S.-based chemical manufacturing firm to create a $10.6 billion firm.

• Occidental Petroleum (NYSE:OXY) stock fell 1.3% after the oil and gas producer’s first quarter earnings fell short of expectations, reporting a 48% decline as oil prices fell.

• Syneos Health (NASDAQ:SYNH) stock rose 8.8% after an investment consortium, comprising Elliott Investment Management, Patient Square Capital and Veritas Capital, agreed to buy the contract research firm in a deal valued at $7.1 billion.

• Tellurian (NYSE:TELL) stock rose 0.8% after the liquefied natural gas developer announced it has appointed Barclays' Simon Oxley as chief financial officer, effective June 1.