Stocks – Lyft Falls in Premarket; Bed, Bath & Beyond Plunges

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By Geoffrey Smith — Stocks in focus in premarket on Wednesday, February 12th. Please refresh for updates.

  • 8:48 AM ET: CME Group (NASDAQ:) stock fell after its fourth-quarter revenue fell more than expected, due to a drop in average daily trading volumes from an exceptionally strong Q4 2018.
  • Trading volumes at the exchange operator were down by 19% on the year, but in essence only returned to the long-term trend.
  • 8:36 AM ET: Heineken (OTC:) ADRs were in focus after the company’s domestic-listed stock in Amsterdam rose 6.2% to a new all-time high in the wake of its fourth-quarter earnings report.
  • The Dutch-based brewer confirmed that operating profit would rise by around 5% this year, after casting doubt on that target in its previous update. Fourth-quarter organic sales volumes and average prices both came in above expectations.
  • The company had announced on Thursday that long-serving CEO Jean-Francois van Boxmeer will stand down in June, to be replaced by the current head of the group’s Asian business, Dolf van den Brink.
  • 8:30 AM ET: CVS Health (NYSE:) stock rose 2.7% after the company posted another quarter of above-forecast earnings and revenue growth in the wake of its acquisition of Aetna (NYSE:) 15 months ago.
  • The company’s health benefits business more than doubled its revenue from a year earlier.
  • CVS also raised its guidance for the current year.
  • 8:13 AM ET: Bed Bath & Beyond (NASDAQ:) stock fell 26%, giving up around half of last year’s gains, after the company’s same-store sales for December and January fell 5.4%, more than the 4% expected.
  • CEO Mark Tritton said the company was experiencing short-term pain in our efforts to stabilize the business,” with store footfall and product availability both weighing on performance.
  • 8:20 AM ET: Shopify (NYSE:) stock rose 8.0% to a new all-time high after the Canadian online retailer beat sales expectations for the fourth quarter and forecast 2020 revenue would also be above consensus estimates.

    Shopify had a particularly impressive Thanksgiving weekend, with worldwide sales of over $2.9 billion between Black Friday and Cyber Monday, up over 60% from a year earlier.

  • Around 46% of the company’s free-float stock is shorted, according to data compiled by
    • 8:08 AM ET: Lyft (NASDAQ:) stock was down 5.2% after the company failed to revise its guidance in line with Uber’s, despite a set of quarterly numbers that matched or beat expectations on all notable operational and financial items.
    • Lyft (NASDAQ:) didn’t change its guidance that it would be profitable by the end of 2021. By contrast, Uber (NYSE:) – which consistently failed to meet its own financial targets in the last couple of years – promised last week to be profitable on an underyling basis by the end of this year.
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