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Smartsheet Shares Surge on Strong Q1 Earnings

Smartsheet shares rose over 16% after the company reported a significant increase in Q1 non-GAAP earnings and revenue. The company reported Q1 non-GAAP earnings of $0.32 per diluted share, up from $0.18 a year earlier, beating analysts' expectations of $0.27. Revenue for the quarter was $263 million, up from $219.9 million a year earlier, also surpassing the expected $258.2 million. The strong performance and optimistic projections for Q2 and fiscal 2025 boosted investor confidence, driving the stock price up.

Halozyme Therapeutics Rises on Upgraded Guidance

Halozyme Therapeutics shares rose more than 11% after the company raised its 2024 guidance following the receipt of a European patent for its Enhanze drug delivery technology. The company now expects 2024 non-GAAP earnings of $3.65 to $4.05 per diluted share, up from its prior guidance of $3.55 to $3.90. Revenue expectations were also increased to $935 million to $1.02 billion, compared to the earlier range of $915 million to $985 million. The positive revision in guidance led to a rise in the stock price.

Instacart Shares Rise on $500 Million Buyback Program

Instacart shares rose by 6.28% after the company's board of directors approved a share repurchase program authorizing the buyback of up to $500 million of the company's common stock. The buyback program is seen as a positive move to return value to shareholders, boosting investor confidence and driving the stock price up.

Robinhood Markets Gains on Bitstamp Acquisition

Robinhood Markets shares rose by 6.8% after the company announced it acquired Bitstamp, a cryptocurrency exchange, for about $200 million in cash. The acquisition is aimed at accelerating Robinhood's crypto expansion worldwide. The deal is expected to close in the first half of 2025. The strategic move to enhance its crypto offerings and expand its footprint outside the US has been well-received by investors, leading to an increase in the stock price.

Down:

Five Below Shares Plunge After Earnings Miss

Five Below shares fell more than 15% in premarket activity after the company's fiscal Q1 sales and earnings lagged market expectations and it lowered its full-year outlook. The company reported fiscal Q1 income of $0.57 per diluted share, down from $0.67 a year earlier, missing analysts' expectations of $0.63. Net sales for the quarter rose to $811.9 million from $726.2 million a year earlier, but still fell short of the expected $834.4 million. The company also lowered its full-year EPS guidance to $4.97 to $5.37 from $5.71 to $6.22 and decreased its net sales outlook, leading to a significant drop in share price.

NIO Shares Dip on Lower Q1 Revenue and Deliveries

NIO shares were down 12% after the company reported a decline in Q1 revenue and vehicle deliveries. The adjusted net loss from operations for the first quarter was 5.4 billion yuan, or 2.57 yuan loss per share, compared to the prior-year period's 5.11 billion yuan or 2.91 yuan loss per share. Total revenue for the period was 9.91 billion yuan, down from 10.68 billion yuan last year, missing the expected 10.61 billion yuan. Vehicle sales decreased by 9.1% year over year, and vehicle deliveries fell 3.2% to 30,053 units. The disappointing results led to a slight dip in the stock price.