Hot Stocks: SOFI, CRM rise on earnings; CERT drops; F plans standalone EV operations

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While investors remained focused on Ukraine and the Federal Reserve in the lead up to Wednesday's open on Wall Street, earnings news offered fodder for some major single-stock moves. SoFi Technologies (NASDAQ:SOFI) and Salesforce (NYSE:CRM) were among the highest-profile players seeing action on their quarterly reports. Both stocks rose in the wake of their financial figures.

Certara (NASDAQ:CERT) moved in the other direction on earnings news. A disappointing report sent the stock sharply lower before the opening bell.

In other news, Ford (NYSE:F) saw a pre-market advance, bolstered by news that the company will officially pursue a separation of its electric vehicle operations from its legacy car-making business.

Gainers

SoFi Technologies (SOFI) soared 14% in pre-market trading following the release of its quarterly results. The online personal finance company reported a narrower-than-expected loss, with revenue that jumped nearly 54% from last year.

SOFI also gave an upbeat forecast, predicting 2022 revenue of $1.57B, with $280M-$285M coming in Q1. The firm projected a full-year adjusted EBITDA figure of $180M.

Earnings news also gave a lift to Salesforce (CRM). The enterprise software maker beat expectations on both the top and bottom lines.

Looking ahead, CRM predicted Q1 revenue of $7.37B-$7.38B, compared to analysts' consensus of $7.27B. Based on its quarterly update, the stock rallied 4% in pre-market action.

Ford (F) recorded a pre-market advance as well, boosted by confirmation that it plans to split its electric business from its traditional internal combustion operations. The news, which had been reported as a possibility earlier, sent the stock higher by nearly 5%.

Decliner

Certara (CERT) lost ground before the opening bell, dragged down by a disappointing quarterly report. The biosimulation company missed expectations with its Q4 results, reporting non-GAAP EPS of $0.01 compared to the $0.09 that analysts had predicted.

The firm's revenue figure also came up short of projections, despite a nearly 17% rise from last year. Hurt by the quarterly report, shares dropped about 9% in pre-market action.

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