PayPal, Carvana Fall Premarket; Starbucks, Hershey, Block Rise

PayPal, Carvana Fall Premarket; Starbucks, Hershey, Block Rise


Kundan Singh BY Stocks in focus in premarket trade on Friday, November 4. Please refresh for updates. PayPal, Carvana Fall Premarket; Starbucks, Hershey, Block Rise

PayPal (NASDAQ:PYPL) stock fell 6.5% after the payment processor cut its annual revenue forecast, warning of a bleak holiday quarter as consumers cut discretionary spending.

Starbucks (NASDAQ:SBUX) stock rose 5.1% after the coffee chain beat expectations for quarterly comparable sales and profits, targeting younger, wealthier customers to weather the coming recession.

Hershey's (NYSE:HSY) stock rose 1.3% after the candy maker raised its full-year net sales and profit forecasts, indicating it expects to continue its strong Halloween sales throughout the holiday season.

Block's (NYSE: SQUARE) stock gained 12% after the payments platform posted third-quarter revenue growth late Thursday, helped by growth from its online payments service Cash App.

Carvana (NYSE:CVNA) stock fell 12.2% after the online used-car seller was disappointed with its third-quarter results, citing weak demand for used cars following a surge of interest during the pandemic.

Atlassian (NASDAQ:TEAM) stock fell 26% after the software company reported slowing paid user growth and a disappointing outlook.

Funko (NASDAQ:FNKO) stock fell 40% after JPMorgan changed its investment stance on the toymaker from "overweight" to "neutral," citing disappointing earnings and an uncertain future.

WeWork (NYSE:WE) stock rose 8.5% after BTIG launched coverage on the provider of working spaces with a 'buy' rating, saying it offers opportunities in an uncertain work environment.

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