March 4, 2024


A woman walks past a FedEx ground vehicle parked in Midtown, New York, on December 4, 2015.

John Taggart | Bloomberg | Getty Images

Check out the companies making headlines in premarket trading.

fedex — Shares fell 2.9 percent after the shipping giant reported quarterly results. The company earned $4.94 per share on an adjusted basis, topping the Refinitiv consensus estimate of $4.89 per share. However, revenue of $21.93 billion fell short of expectations. FedEx executives also provided roughly flat revenue guidance and said Chief Financial Officer Mike Lenz will retire on July 31.

Coinbase, Riot platform — Cryptocurrency exchange shares rose nearly 3% in premarket trading, seemingly driven by a 7.8% surge bitcoin, while cryptocurrency mining firm Riot rose 3.4 percent. Coinbase has faced multiple headwinds recently, from its ongoing spat with the U.S. Securities and Exchange Commission to BlackRock launching its own bitcoin exchange-traded fund.

micro strategy — The cloud services company with a foray into bitcoin rose 2.9 percent in premarket trading, following gains by other companies. Shares have risen more than 121% so far in 2023 and are up 8.7% in the past month.

tesla — Shares of the electric car giant rose 1.2%, even after Barclays downgraded its rating to equal weight from overweight. The bank warned investors that it might be prudent to “take a wait-and-see approach” following the recent gains. Tesla shares have risen more than 52% in the past month.

winnebago industries — Shares fell 4.7 percent after the RV maker reported quarterly results. The company reported adjusted earnings of $2.13 per share, compared with expectations of $1.78, according to FactSet. However, the company’s revenue also fell 38.2% to $900.8 million, which executives attributed mostly to a more challenging RV market and deeper discounts.

Spotify — The music streaming service rose about 2% in premarket trading after Wolfe Research upgraded Spotify to outperform. Wolff said price increases and ad growth should help Spotify boost revenue.

Rivian — The electric car maker rose 1.6 percent in premarket trading. A day earlier, the company announced that starting next year, its customers will have access to Tesla’s network of charging stations.

exact science — Shares rose 6% on a research agreement with the Broad Institute of MIT and Harvard for exclusive access to the company’s molecular residual disease diagnostic testing platform.

— CNBC’s Jesse Pound contributed reporting.