Microsoft, Boeing, Alphabet, Robinhood and more
An employee inspects a Boeing 737 MAX plane at Renton Airport, near the Boeing Renton Factory in Renton (Washington), November 10, 2020.
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These are the headline-grabbing companies that make news in early morning trading.
Enphase Energy — Shares of the solar microinverter maker jumped more than 8% during premarket trading following the company’s first-quarter results. Enphase reported record revenueAnalysts’ expectations for the top line and bottom line were met and even exceeded. According to the company, Europe is a major growth market as Russia’s incursion in Ukraine has sent power prices skyrocketing.
Juniper Networks — The maker of networking technology saw its shares decline 6.1% after reporting first quarter earnings that came in slightly lower than analysts’ estimates. On the earnings conference call, management stated that continuing supply chain problems have led to extended lead times as well as higher logistics and component prices.
Edwards Lifesciences — The artificial heart valve maker’s shares fell 3.6% despite reporting a revenue beat for the first quarter, as the company issued weak revenue guidance for the current quarter.
Visa — Visa’s stock surged 5.5% premarket following a beat on the top and bottom linesIt expects continued growth from travel recovery in the current quarter. On revenues of $7.19 trillion, the payments company reported adjusted earnings per share at $1.79 and adjusted earnings per share at $1.79. Refinitiv reports that analysts had expected adjusted earnings of $1.65 per share and revenue of $6.83 trillion.
Texas Instruments — Shares of Texas Instruments fell 2.9% after the tech company issued weak earnings and revenue guidance for the current quarter and said it expects reduced demand from Covid restrictions in China.
Boeing — The aircraft maker’s shares slipped by 1.3% after the company recorded weaker-than-expected earnings and revenueThe most recent quarter. Boeing stated that production is being halted on its 777X plane, and it doesn’t anticipate deliveries starting until 2025.
Harley-Davidson — Shares of the motorcycle maker shed 1.4% after the company reported earnings for the previous quarter that were in line with analysts’ estimates, at $1.45 per share, according to Refinitiv. The quarterly revenue was also lower than expected at $1.30 million versus $1.31.
Robinhood — The retail brokerage’s shares fell 4.5% in early trading after the company reported it will cut about 9% of its staffAfter the company’s expansion, it cited “duplicate jobs and job functions”. Robinhood had 3,800 employees full-time as of December 31.
Alphabet — Shares of Google’s parent company dipped 3.5% during premarket trading after reporting a miss on the top and bottom linesYouTube revenue was weak in the first quarter. Alphabet earned $24.62 per Share on $68.01 Billion in revenues. Refinitiv reports that analysts had predicted earnings of $24.62 per share on revenue of $68.11 million.
Microsoft — Shares of Microsoft rose 4% premarket following a beat on the top and bottom lines in the previous quarter and shared strong guidanceFor the current quarter. The revenue guidance for the three business segments of the company exceeded analysts’ expectations in the latest quarter.
Capital One — Capital One shares lost 5.4% in early trading despite the company beating earnings and revenue estimates for its most recent quarter. Results included $192 million in pretax gains from partnership card portfolios as well as lower-than-expected net interests margins.
— CNBC’s Samantha Subin and Pippa Stevens contributed reporting