Stocks making the biggest moves premarket: AMD, Disney, Uber, Corning, Super Micro Computer & more – CNBC
Check out the companies making the biggest moves premarket: Advanced Micro Devices — Shares surged 18% after the chipmaker issued strong guidance. AMD is calling for second-quarter revenue of $11.2 billion, plus or minus $300 million, versus the analyst estimate for $10.52 billion. First-quarter results also surpassed expectations on the top and bottom lines. Super Micro Computer — The server maker jumped 13%. Expectations for fourth-quarter profit range from 65 cents to 79 cents per share, trouncing Wall Street’s call for 55 cents a share, per LSEG. In the third quarter, Super Micro posted adjusted earnings of 84 cents per share on revenue of $10.24 billion. Analysts polled by FactSet had expected earnings of 62 cents and $12.39 billion in revenue. Disney — The media giant jumped 4.3% on fiscal second-quarter revenue that beat analyst expectations. Driving the beat was a strong performance from the company’s streaming and theme park businesses. Corning — Shares popped 19% after the glassmaker announced a deal with Nvidia to build three new manufacturing facilities in North Carolina and Texas. The facilities will help develop optical technologies for the chipmaker, and increase Corning’s optical manufacturing capacity by 900%. CVS Health — The pharmacy benefits operator gained 5% on better-than-expected results for the first quarter. CVS earned an adjusted $2.57 per share on revenue of $100.43 billion. Analysts polled by LSEG expected a profit of $2.20 per share on revenue of $95.1 billion. The company also hiked its full-year earnings outlook. Uber — Shares surged 8.5% despite first-quarter revenues coming in lighter than expected. The rideshare company reported $13.2 billion in revenue, compared to estimates from analysts polled by LSEG of $13.29 billion in revenue. Guidance for the current quarter came in better-than-expected though, and the company beat estimates slightly on earnings. Jacobs Solutions — Shares slipped 1% after the technical professional services firm reported a second-quarter adjusted earnings and revenue beat versus what analysts polled by FactSet had expected. The company also raised its full-year earnings guidance. It now sees earnings coming in between $7.10 to $7.35 per share, higher than previous guidance of between $6.95 to $7.30 per share. Arista Networks — The cloud networking company dropped nearly 9%. Adjusted gross margin narrowly missed expectations, coming in at 62.4% in the first quarter, versus the 62.7% anticipated by analysts polled by StreetAccount. Arista’s second-quarter revenue forecast was roughly in line with the Street’s estimate, coming in at $2.8 billion versus the $2.77 billion expected. Restaurant Brands International — Shares were up 2.1% after the company reported first-quarter adjusted earnings of 86 cents per share and revenue of $2.26 billion. That was better than an LSEG consensus for 82 cents per share on $2.24 billion in revenue. Burger King saw same-store sales growth accelerate better than estimates , while Popeyes saw a narrower decline in same-store sales than estimates too. SolarEdge Technologies — The stock fell 3% after the company reported a wider-than-expected adjusted loss of 43 cents per share in its first-quarter financial report. Analysts polled by FactSet expected a loss of 27 cents per share. Lucid Group — Shares of the electric vehicle manufacturer fell 4.5%. Lucid posted a first-quarter loss of $3.46 per share on a GAAP basis, versus the loss of $2.64 per share expected, per LSEG. Revenue of $282.5 million missed the call for $440.4 million. Klaviyo — The provider of the email marketing platform plummeted 18%. Second-quarter adjusted operating income is expected to range from $47.5 million to $50.5 million versus the StreetAccount consensus call for $52.7 million. Klaviyo also said that finance chief Amanda Whalen will be leaving the company. She is expected to serve as CFO through Aug. 21 and will move into an advisory role through November. DaVita — The kidney dialysis service provided added 6% after reporting first-quarter adjusted earnings and revenue that exceeded what analysts polled by FactSet were looking for. The company now sees its full-year earnings coming in the range of between $14.10 to $15.20 per share, versus prior guidance of between $13.60 to $15 per share. Skyworks Solutions — Shares of the wireless networking service provider slipped 4%. Skyworks’ third-quarter guidance calls for revenue of $900 million to $950 million, with adjusted earnings of $1.03 per share expected at the midpoint of the revenue range. Analysts polled by FactSet sought 94 cents per share on revenue of $861.2 million. Devon Energy — Shares of the oil and gas producer lost more than 6%. Adjusted earnings in the first quarter came in at $1.04 per share, while the FactSet consensus called for $1.06 per share. Production in the period was slightly short of the Street’s expectation. Kraft Heinz — The food and beverage manufacturer rose more than 2% after it reported a top- and bottom-line beat in its first-quarter earnings report. Kraft Heinz also reported better-than-expected sales in North America, developed international countries and emerging markets, and it reiterated its full-year guidance. Apollo Global Management — Shares rose more than 3% after the asset manager reported adjusted first-quarter earnings in-line with estimates. Assets under Apollo’s management also surpassed $1 trillion. Maplebear — The Instacart owner rose 1.5% despite first-quarter earnings of 57 cents per share coming in below estimates for 60 cents, according to analysts polled by LSEG. Revenue came in-line with expectations at $1.02 billion. Oil stocks — Energy names fell after Axios reported the U.S. and Iran may be nearing a deal to end the war in the Middle East. APA Corporation fell more than 8% while Occidental Petroleum was off 7%. ConocoPhillips tumbled 5.5%. Exxon Mobil and Chevron were both down more than 4%. — CNBC’s Lisa Kailai Han, Darla Mercado and Fred Imbert contributed reporting
