Stocks making the biggest moves premarket: Kraft Heinz, Paramount, Airbnb, Tripadvisor and more

Check out the companies making headlines before the bell.

Devon Energy — Shares fell 6.4% after the energy company reported fourth-quarter earnings and revenue that both came in under the respective consensus estimates of analysts polled by Refinitiv.

Airbnb — The home-sharing company gained nearly 10% in the premarket after posting fourth-quarter earnings that beat analysts’ expectations. Airbnb reported earnings per share of 48 cents, compared to the 25 cents expected, per Refinitiv. Its earnings came in at $1.90 billion, higher than the forecasted $1.86 billion.

Generac — Shares added more than 2% after the power generator maker reported fourth-quarter earnings results. Generac posted earnings of $1.78 per share, better than the $1.75 per share expected by analysts polled by FactSet. However, Generac reported revenues of $1.05 billion, lower than consensus expectations of $1.07 billion.

Analog Devices — Shares were up 6.7% in premarket trading after the company reported better-than-expected earnings for the fiscal first quarter. The chipmaker posted adjusted earnings per share of $2.75, higher than the $2.61 expected from analysts on FactSet. Its revenue came in at $3.25 billion, above Wall Street’s expectations of $3.15 billion.

Kraft Heinz — Shares dropped 2.2% after the food and beverage company said earnings for this fiscal year would be between $2.67 and $2.75 a share. That’s below the consensus estimate of $2.77 a share from analysts collected by FactSet. The company however reported earnings that beat analysts’ expectations for the last quarter.

Paramount Global — Shares gained 2.5% premarket after Berkshire Hathaway increased its stake in the streaming giant, according to the latest regulatory filings. Warren Buffet’s firm now owns more than 93 million shares in the entertainment company.

Roblox Corp — Shares of the online game platform soared 16% after the company reported a fourth-quarter revenue of $579 million, up 2% year-over-year. The company said bookings were $899.4 million, surpassing the 875.3 million bookings expected by analysts, according to FactSet’s StreetAccount.

Biogen — Shares of the biotech company fell less than 1% in pre-market trading after Biogen reported its fourth quarter results. The company reported $4.05 in adjusted earnings per share, topping the $3.49 expected by analysts, according to FactSet’s StreetAccount. However, the company did project a decline in revenue for 2023, even if Biogen gets a favorable ruling in a European Union case that is expected next month.

American Eagle Outfitters — Shares fell 3.4% after Jefferies downgraded the apparel company to hold from buy, citing the historically low performance of the clothing and footwear category over the past 8 recessions.

Tripadvisor — Shares of the online travel company soared by 9% after posting fourth-quarter revenue, earnings and cash flow that were higher than analysts’ estimates.

Taiwan Semiconductor Manufacturing — Shares of the global semiconductor maker dropped 5% after Warren Buffett’s Berkshire Hathaway appeared to make a U-turn on the Taiwanese company. Berkshire cut its stake in the fourth quarter by about 86% from the third quarter, an unusual move for a an investor known to hold shares for the long-term. Berkshire now owns just $618 million.

GoDaddy — Shares fell 2.6% after the product developer posted quarterly earnings of 62 cents per share, short of earnings per share estimates of 64 cents from FactSet’s StreetAccount.

— CNBC’s Sarah Min, Alex Harring, Jesse Pound, and Michelle Fox Theobald contributed reporting.