Check out the companies making headlines in premarket trading. McDonald’s — Shares of the fast food giant gained more than 4% after second-quarter results surpassed analyst estimates. McDonald’s earned $3.19 per share after adjustments on revenue of $6.84 billion. Analysts polled by LSEG were looking for a profit of $3.15 per share and revenue of $6.7 billion. Walt Disney — The media and entertainment giant slipped more than 1% on the back of mixed quarterly results . Revenue for its fiscal third quarter came in at $23.65 billion, short of the $23.73 billion estimate from LSEG. Adjusted earnings were $1.61 per share, topping the $1.47 consensus estimate. Snap — Stock in the social media platform pulled back nearly 18% after second-quarter revenue missed analyst estimates. The firm reported revenue of $1.34 billion, while analysts polled by LSEG were looking for $1.35 billion. Arista Networks — Shares of the network equipment firm advanced 13% in the premarket following better-than-expected expected second-quarter results. Arista Networks earned an adjusted 73 cents per share on revenue of $2.20 billion, while analysts polled by LSEG were looking for earnings of 65 cents per share and $6.11 billion in revenue. Opendoor Technologies — Shares of the online residential real estate stock plummeted more than 21% after issuing a weaker-than-expected third-quarter outlook. Opendoor said it expects revenue between $800 million to $875 million, while analysts polled by FactSet were looking for $1.20 billion. The stock has seen record-high trading volume in recent months, having caught the attention of retail traders, who have boosted the stock more than 36% so far in August. It was up fivefold since the start of July. Uber Technologies — The stock dipped 0.5%. The ride-hailing company reported second-quarter earnings of 63 cents per share, which was in line with the consensus estimate. Revenue of $12.65 billion exceeded the $12.46 billion expected by analysts polled by LSEG. Advanced Micro Devices — The chipmaker’s shares dropped more than 6% after a disappointing second-quarter earnings report . The adjusted earnings of 48 cents per share was a penny shy of LSEG estimates. The company trails Nvidia in the graphics processing unit, or GPU, market. Rivian Automotive — Stock in the electric vehicle company fell 7% as its second-quarter results missed analyst estimates. Rivian reported a wider-than-expected loss of 80 cents per share, after adjustments. Analysts polled by LSEG were looking for an adjusted loss of 65 cents per share. Skyworks Solutions — Shares of the wireless networking stock climbed nearly 1% after a better-than-expected fourth-quarter outlook. Skyworks said it expects revenue in the current quarter of $1 billion to $1.03 billion, while analysts surveyed by LSEG forecast $887 million. Skyworks also forecast adjusted fourth-quarter earnings of $1.40 per share, while analysts were looking for 97 cents. Upstart Holdings — The artificial intelligence-powered lending marketplace lost almost 2% despite offering a strong earnings report and outlook. Upstart earned an adjusted 36 cents per share on $257 million in revenue, beating the respective LSEG consensus forecasts of 26 cents a share and $225 million estimate. Hinge Health — Shares surged more than 10% following stronger-than-expected second-quarter revenue. Hinge Health reported revenue of $139 million, while analysts surveyed by LSEG were looking for $125 million. The results are Hinge Health’s first quarterly print as a publicly traded company. Lucid Group — The EV stock rose 3% even though it adjusted its production outlook for 2025 . Lucid expects to produce between 18,000 and 20,000 vehicles, compared with a previous forecast of 20,000. Lucid’s second-quarter results also missed analyst estimates. BridgeBio Pharma — Shares were more than 9% lower after the pharmaceutical company reported a wider second-quarter loss than analysts were expecting. BridgeBio lost 95 cents per share, compared with a FactSet forecast for a 79 cents per share loss. Super Micro Computer — The server stock plunged 17% after weaker-than-expected fourth-quarter results. Super Micro earned 41 cents per share on revenue of $5.76 billion, while analysts polled by LSEG were looking for a profit of 44 cents per share and $5.89 billion in revenue. The firm’s first-quarter outlook also missed analyst estimates. Match Group — The online dating service stock popped almost 7% after the firm issued a stronger-than-expected third-quarter revenue outlook. Match Group expects revenue in the current quarter to be between $910 million and $920 million, while analysts polled by LSEG were looking for $890 million. — CNBC’s Alex Harring, Michelle Fox, Yun Li and Sarah Min contributed reporting.
MCD, SNAP, SMCI, DIS, OPEN and more
Categories:
Related Post
Stocks making the biggest moves midday: INTC, WBA, NKEStocks making the biggest moves midday: INTC, WBA, NKE
Check out the companies making headlines in midday trading: Super Micro Computer — The server builder surged 11%, extending its 32% rally from last week after CEO Charles Liang said
Berkshire Hathaway’s cash fortress tops $300 billion as Buffett sells more stock, freezes buybacksBerkshire Hathaway’s cash fortress tops $300 billion as Buffett sells more stock, freezes buybacks
Warren Buffett walks the floor ahead of the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska, on May 3, 2024. David A. Grogen | CNBC Berkshire Hathaway‘s monstrous cash pile
Mark Wiedman, BlackRock exec thought to be Fink’s successor, is leavingMark Wiedman, BlackRock exec thought to be Fink’s successor, is leaving
Mark Wiedman, head of BlackRock’s global client business, attends the Global Financial Leaders’ Investment Summit, in Hong Kong, Nov. 8, 2023. Tyrone Siu | Reuters Mark Wiedman, a senior BlackRock