Check out the companies making headlines before the bell. Akamai Technologies — Shares of this cloud company fell more than 10% after announcing a weak outlook for the second quarter. Akamai expects adjusted earnings to be between $1.51 and $1.56 per share and revenue between $967 million and $986 million. Analysts polled by LSEG had expected earnings of $1.63 per share and revenue of $1 billion. Sweetgreen — Salad chain soars 5% after Sweetgreen reported first-quarter revenue of $158 million, beating LSEG’s consensus estimate of $152 million. Did. Sales forecasts were almost in line with expectations. Array Technologies – The solar energy stock rose nearly 17%. Array’s first-quarter adjusted earnings were 6 cents per share on revenue of $153.4 million. Analysts surveyed by FactSet had expected a loss of 4 cents per share on revenue of $141.2 million. Gen Digital — The cybersecurity software company’s stock rose about 4%. Gen Digital, which owns LifeLock and Norton, reported fourth-quarter adjusted earnings of 53 cents, up 15% from the year-ago period. Revenues were $967 million, an increase of 2% compared to the same period. Bumble — The digital dating platform rose more than 2% after reporting first-quarter revenue and revenue beats. Bumble also increased its stock repurchase program from $300 million to $450 million. According to FactSet, management reiterated its full-year revenue outlook of 8% to 11% growth compared to the consensus estimate of 9.3% year-over-year growth. Insulet — The medical device company’s stock fell slightly as higher marketing costs weighed on first-quarter profits. Management has indicated that full-year sales growth for 2024 is expected to be in the range of 14% to 18%, compared to the 15.5% expected by analysts surveyed by Street Account. Natera — Shares soared more than 20% after better-than-expected results. The DNA testing company posted a loss of 56 cents per share, while analysts had expected a loss of 71 cents, according to Street accounts. Sales were $367.7 million, exceeding expectations of $316.3 million. The company’s full-year revenue outlook also exceeded the consensus estimate of $1.34 billion. Unity Software — The tech stock fell 2% after a better-than-expected loss in the first quarter. Unity reported a loss of 75 cents per share, compared to analysts’ expectations of 63 cents, according to LSEG. Guidance for the second quarter on key revenue metrics was also lower than expected. Novavax — Shares soar after the biotech company announced a multibillion-dollar deal with Sanofi to co-commercialize a coronavirus vaccine and develop a combination vaccine for coronavirus and influenza. soared 114%. 3M – The company’s stock price has increased after HSBC upgraded the stock to Buy and raised its price target from $91.13 to $115 per share, saying 3M could accelerate growth due to an improving macroeconomic backdrop. It rose 1% premarket. Yelp — Shares fell about 2% after the restaurant review site released a modest second-quarter earnings forecast after the market on Thursday. However, Yelp’s first-quarter profit exceeded expectations, and sales were in line with expectations. — CNBC’s Tanaya Machel, Jesse Pound and Michelle Fox contributed reporting
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