Biggest Movers in Premarket Action on Friday

Stock Gainers:

• Amazon.com Inc. (AMZN)

  • The retail juggernaut’s stock jumped more than 8% as it surpassed second-quarter expectations with strong e-commerce and cloud sales.

• Cloudflare Inc. (NET)

  • Shares of the cybersecurity company surged more than 8% as its earnings and forecast exceeded Street estimates.

• DaVita Inc. (DVA)

  • The dialysis center company saw a 5% rally in its shares after hiking its earnings outlook following a beat.

• Booking Holdings Inc. (BKNG)

  • Shares of the travel booking site rallied nearly 12% after beating earnings expectations and forecasting a “record summer travel season” for the third quarter.

• Atlassian Corp. (TEAM)

  • The workplace-collaboration cloud software developer experienced a surge of 22.5% in its shares as it forecasted fiscal first-quarter sales above Wall Street’s estimates.

• DraftKings Inc. (DKNG)

  • Shares of the online sports-betting platform jumped nearly 14% after reporting a surprise second-quarter profit and boosting its full-year sales forecast.

Stock Decliners:

• Apple Inc. (AAPL)
  • Shares of the tech giant dropped almost 2% in after-hours trading on Thursday after its iPhone sales fell short of consensus view.

Stock Market Updates

Fortinet Inc. (FTNT) Stock Slumps After Delayed Deals

Fortinet Inc. (FTNT) stock witnessed a significant drop of 18% after the cybersecurity group announced that an unusually large volume of deals have been postponed beyond the June quarter.

Square Inc. (SQ) Reports Strong Quarterly Results

Shares of Square Inc. (SQ) declined by more than 4% even after the payments technology company reported better-than-expected quarterly results. Square also stated that it now anticipates booking positive adjusted operating income for the full year.

CarGurus Inc. (CARG) Postpones Second-Quarter Results

Investors were spooked as CarGurus Inc. (CARG), the online car marketplace, decided to postpone its second-quarter results without providing any detailed explanation. As a result, shares dropped by more than 7%.

Redfin Corp. (RDFN) Takes Longer to Break Even

Redfin Corp. (RDFN)’s stock plummeted over 10% as the real-estate company revealed that it will take more time than expected to achieve profitability. The company cited a loss of market share as a contributing factor for the delay.

Funko Inc. (FNKO) Lowers Sales Outlook

Toy maker Funko Inc. (FNKO) experienced a 3% decline in its stock price after it revised down its sales outlook due to sustained weaker demand in the market.

Airbnb Inc. (ABNB) Beats Expectations with Strong Quarter

Airbnb Inc. (ABNB), the vacation-home rental platform, reported impressive second-quarter results, surpassing Wall Street’s estimates. However, despite the positive performance, the company’s shares dropped slightly by 0.2% early Friday.