Hot Stocks: GRPN, BHC drop on earnings news; AMC, LPSN rally

May 10, 2022 8:33 AM ETGroupon, Inc. (GRPN)BHC, AMC, LPSNBy: Brian Stewart, SA News Editor

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Another round of earnings reports impacted investor sentiment in Tuesday's pre-market action. This included Groupon (NASDAQ:GRPN) and Bausch Health Companies (BHC), which both plummeted in the wake of their quarterly reports.

Meanwhile, AMC (AMC) and LivePerson (LPSN) moved in the opposite direction on earnings news. Both rallied after posting better-than-expected quarterly results.

Decliners

Groupon (GRPN) endured a pre-market sell-off, dropping 13% after the release of disappointing earnings and guidance. The company reported a loss for the latest quarter compared to a profit in the same period last year. Revenue plunged 42% to reach $153M.

Looking ahead, the e-commerce marketplace predicted Q2 revenue between $155M and $165M. Analysts were looking for a figure above $200M.

Bausch Health Companies (BHC) also dropped following the release of financial figures. The stock plunged 30% after the health care products company recorded a GAAP loss for Q1. This surprised analysts, who had predicted a profit.

Revenue at the company also came in below expectations, falling 5% from last year to reach $1.92B. This was $120M below what Wall Street experts had predicted.

Gainers

AMC (AMC) saw buying interest in pre-market action after posting better-than-expected quarterly results. Recovering from the COVID lockdowns, the movie theater chain cut its losses and revealed revenue that quintupled from last year to reach nearly $786M.

Commenting on its turnaround following the pandemic, the company pointed to blockbusters like Spider-Man: No Way Home and the recently released Doctor Strange in the Multiverse of Madness for drawing people back into theaters. Based on the earnings news, shares rose more than 6% before the opening bell.

Earnings news also gave a lift to LivePerson (LPSN). The provider of conversational AI technology reported a quarterly loss that came in narrower than analysts had projected. Revenue rose 21% from last year to reach $130M.

LPSN raised its forecast for the full year, saying it now expects adjusted EBITDA between $1M and $10M. Shares rose almost 7% on the news.

To keep up with Wall Street's best- and worst-performing stocks throughout the session, head over to Seeking Alpha's On The Move section.

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