Shares of Carvana (NYSE:CVNA) are skyrocketing in pre-market trading after the used car retailer reported record first quarter net income on better than expected revenues.

Chipmaker Qualcomm (NASDAQ:QCOM) is also likely to see initial strength after reporting fiscal second quarter earnings that exceeded estimates and providing upbeat revenue guidance.

Meanwhile, shares of DoorDash (NASDAQ:DASH) may come under pressure after the food delivery company reported a wider than expected first quarter loss.

Online marketplace Etsy (NASDAQ:ETSY) is also seeing significant pre-market weakness after reporting disappointing first quarter results.