Check out the companies making headlines in premarket trading. Twilio — Shares dropped nearly 11% after the consumer engagement company issued lower-than-expected revenue guidance for the current quarter. Twilio also reporter total active consumers for the fourth-quarter that were below Wall Street estimates. Cisco — Shares dropped 4.4% after the tech company posted a yearly decline in revenue during the fiscal second quarter. Cisco also issued lighter-than-expected guidance for the fiscal third quarter and announced a downsizing plan that would lead to a 5% reduction in jobs . Coinbase — Shares jumped 8% after JPMorgan upgraded the cryptocurrency exchange platform to neutral from underweight, citing rising cryptocurrency prices. On Wednesday, Bitcoin regained a $1 trillion market cap as it reached a more than two-year high. On Thursday, Bitcoin was last higher by more than 1%. Tripadvisor — Shares climbed nearly 5% after the online booking company beat Wall Street estimates on the top and bottom line in the fourth-quarter. Tripadvisor reported an adjusted 38 cents per share on $390 million in revenue, while analysts polled by LSEG forecast 22 cents and $374 million, respectively. JFrog — Stock in the software development company climbed more than 19% after fourth-quarter results surpassed Wall Street estimates. JFrog reported an adjusted 19 cents per share on $97 million in revenue, against estimates from analysts polled by FactSet that called for 12 cents and revenue of $93 million. Shake Shack — Shares of the restaurant stock climbed nearly 17% after the firm beat Wall Street estimates on the top and bottom line. Shake Shack reported an adjusted $0.02 per share on revenue of $286.24 million in the fourth-quarter, while analysts polled by LSEG forecast $0.01 and $280.3 million, respectively. Deere — Shares dropped 4% in premarket trading after the manufacturer of agricultural machinery lowered its full-year net income guidance. In its full year ending October, Deere expects net income of $7.50 billion to $7.75 billion, lower than prior guidance it issued between $7.75 billion and $8.25 billion. In a statement, CEO John C. May said, “Moving forward, we expect fleet replenishment to moderate as agricultural fundamentals normalize from record levels in 2022 and 2023.” Otherwise, Deere beat expectations on the top and bottom lines in its first-quarter results. Super Micro Computer — Shares gained more than 4% after Bank of America initiated coverage of the information technology stock with a buy rating. The firm said Super Micro will be a key beneficiary of artificial intelligence opportunities moving forward, and said the firm could turn into a future partner for peers including Nvidia, AMD and Intel. Marathon Digital Holdings — Stock in the cryptocurrency mining company jumped more than 4% after bitcoin regained a $1 trillion market capitalization and climbed to a two-year high. Arm Holdings – Shares of Arm Holdings were higher in premarket trading after A.I. darling Nvidia listed an investment in the chipmaker, according to a regulatory filing . — CNBC’s Hakyung Kim, Sarah Min and Pia Singh contributed reporting
