Stocks That Will Affect the Market: Unity Software, Cava, Zoom Video, Viking Therapeutics

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The stock market is always in flux, with various companies making headlines before the opening bell. Keeping an eye on these companies can provide valuable insights into market trends. Let’s take a closer look at some stocks that are expected to make waves today.

Unity Software: A Forecast Disappointment

Video game developer Unity Software has forecasted lower-than-expected adjusted EBITDA for the current quarter. This announcement has caused the company’s shares to tumble by 15%. Analysts had anticipated $113 million in EBITDA, but Unity is now predicting a range of $45 million to $50 million.

Cava: Mediterranean Cuisine Chain Beats Expectations

Shares of Cava, the Mediterranean restaurant chain, have surged by 8% following its strong fourth-quarter earnings report. The company’s revenue for the quarter soared 52% to $175.5 million, surpassing the $174.3 million anticipated by analysts. Additionally, Cava’s full-year guidance for EBITDA exceeded expectations.

Zoom Video: Impressive Fourth-Quarter Report

Communication software company Zoom Video has experienced a 12% surge in its stock price after reporting better-than-expected earnings for the fiscal fourth quarter. Zoom’s adjusted earnings per share were $1.22 on $1.15 billion of revenue, surpassing analysts’ predictions of $1.15 per share on $1.13 billion in revenue.

Viking Therapeutics: Positive Results in Anti-Obesity Drug Study

Clinical-stage biotech firm Viking Therapeutics has seen its shares skyrocket by over 100%. The company announced that its Phase 2 GLP-1 study, focusing on anti-obesity drugs, had successfully met primary and secondary endpoints. Patients receiving the VK2735 treatment demonstrated significant weight reduction compared to the placebo group. Viking will now work with the FDA to further develop VK2735.

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Conclusion

These notable companies are stirring up the premarket trading session, and their performance could have a significant impact on the stock market today. Investors and market observers should closely monitor the outcomes and make informed decisions based on the latest developments.

This article was produced by Business Today, a premier source of financial news and market analysis.