Check out the companies making headlines before the bell:
honest company (HNST) — The Honest Company stock rose 1.6% in the primary market despite a larger-than-expected quarterly loss. The natural consumer products maker now sees a larger full-year loss than previously thought, due to cost pressures, but expects an improvement over the year, including positive fourth-quarter adjusted earnings.
Rivian Cars (RIVN) — Shares of Rivian fell 1% in pre-market trading after the electric vehicle maker extended its estimate of its losses for 2022. It also reiterated previous production guidance.
Illumina (ILMN) — Illumina fell 14.7% in the primary market after the genetic sequencing technology company reported less-than-expected quarterly earnings and revenue, and issued a forecast well below analyst estimates. Illumina said the challenging economic environment is offsetting the growth in use of its genetic sequencing platform.
Toast (TOST) — Toast rose 12.9% in pre-market activity after the restaurant payment technology company raised its full-year earnings forecast. Toast reported a quarterly loss, but it was narrower than analysts expected, with Toast citing a record number of new sites using its technology.
Bushmark (POSH) — Poshmark fell 1.4% in the primary market after the online fashion retailer issued weaker-than-expected revenue guidance for the current quarter. Poshmark posted a loss last quarter due to increased marketing and research and development expenses, but sales were better than analysts had expected.
Wheels (UP) — The private jet company’s stock added 2% in pre-market activity after it reported better-than-expected quarterly revenue, although its loss was slightly larger than expected. Wheels Up also saw a 16% jump in active users.
Olu (OLO)–Olo fell 33% in premarket trading after the restaurant software maker released a weaker-than-expected report for the current quarter and full-year revenue forecasts.
LegalZoom (LZ) – LegalZoom added 2.1% in the primary market after the online legal forms resource reported better-than-expected quarterly earnings.
