Hot Stocks: FB drops 20%; NTGR, HON fall on earnings; TMUS rises
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Meta Platforms (NASDAQ:FB) took center stage in Thursday's pre-market trading, losing more than a fifth of its value in the wake of a devasting earnings report. The Facebook parent missed on key metrics for its most recent quarter and issued a cautious forecast for the current fiscal period.
Elsewhere on the earnings front, NETGEAR (NASDAQ:NTGR) and Honeywell (NASDAQ:HON) both stumbled after releasing their respective quarterly reports. At the same time, T-Mobile (NASDAQ:TMUS) received buying interest after its profit exceeded the amount predicted by analysts.
Decliners
Facebook parent Meta Platforms (FB) tumbled more than 22% in pre-market action following a disastrous earnings report. The social media giant missed expectations with its Q4 earnings and issued a disappointing forecast for Q1.
FB beat expectations with its top line, with revenues rising 20% from last year to reach $33.7B. However, earnings came in below projections and key figures like daily active users and monthly active users failed to meet forecasts as well.
Looking ahead, FB predicted Q1 revenue of $27B-$29B, below the $30.3B predicted by analysts.
Earnings news also sparked a pre-market sell-off in NETGEAR (NTGR). The maker of networking products beat expectations with its Q4 profit figure but missed consensus with its revenue number, which plunged 32% from last year.
NTGR also came in light with its guidance. The firm projected a Q1 revenue figure between $225M and $240M, below the $253M that analysts had predicted. Hurt by the weak revenue figures, NTGR dropped about 9% before the opening bell.
Honeywell (HON) lost ground on earnings news as well. The company generally met expectations with its Q4 results but issued a soft forecast for 2022. Shares dipped more than 3% in pre-market action.
Gainer
T-Mobile (TMUS) missed expectations with its quarterly revenue figure, but investors focused on better-than-expected earnings. The stock rose 7% before the opening bell.
Revenue advanced just 2% to reach nearly $20.8B, more than $250M below the amount predicted by analysts. However, the company's profit figure more than doubled the amount projected by market experts. At the same time, the firm reported core adjusted EBITDA of $5.7B. 

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