Lyft, Expedia, Affirm fall premarket; Cloudflare rises

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Friday, February 10th. Please refresh for updates.

• Lyft (NASDAQ: LYFT) stock slumped over 30% after the ride-hailing firm reported a surprise fourth-quarter loss and disappointing guidance as margins were pressured by rising costs.

• PayPal (NASDAQ: PYPL) stock rose 0.5% after the payments giant forecast of better than expected full-year profit, overshadowing its warned of pressure on discretionary spending. It also announced Chief Executive Dan Schulman will retire at the end of 2023.

• Expedia (NASDAQ: EXPE) stock fell 2.6% after the online travel booking company missed fourth-quarter expectations, hit by a spike in cancellations and bad weather near the end of the quarter.

• Cloudflare (NYSE: NET) stock rose 8.1% after the cloud services provider reported better-than-expected fourth-quarter results and offered a strong revenue outlook.

• JD ADRs (NASDAQ: JD) fell 3.9% after the Chinese e-commerce company announced plans to launch an “industrial version” of ChatGPT called ChatJD.

• Affirm (NASDAQ: AFRM) stock fell 3.9% after Morgan Stanley downgraded its stance on the fintech company to ‘equal-weight’ from ‘overweight’, saying its offerings are too small for its ambitions.

• Adidas ADRs (OTC: ADDYY) fell 0.4% after the German sportswear group warned that its dispute with rapper Ye may cause a steep loss in 2023.

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