Meta, Teladoc, Pinterest, Qualcomm and more
A woman holds a smartphone bearing the Meta logo and stands in front of an illustration taken on October 28, 2021.
Dado Ruvic | Reuters
Take a look at the top companies in premarket Thursday trading.
Meta — Shares of the Facebook parent soared more than 16% in premarket trading after the tech company reported better-than-expected quarterly earningStreetAccount reported that the fourth-quarter decline in s. daily active users was the first ever. However, it rebounded a little and beat analysts’ predictions. Even though revenue was not met, the rally happened. Just 48% was lost in shares as of the end of the year.
Teladoc — Teladoc’s stock price cratered 43% after the telehealth company reported an earnings miss, as well as disappointing revenue guidance. Teladoc posted a loss at $41.58 per share, and revenues of $565.4million. FactSet polled analysts expecting to see a loss at 60 cents per share and revenue of $568.7million.
McDonald’s — Shares of the restaurant chain gained 2% in premarket trading after first quarter revenue came in higher than expected. According to Refinitiv, McDonald’s first quarter revenues were $5.67 billion instead of the expected $5.59 billion. According to Refinitiv, the same store sales grew by 3.5% in America and 3.5% internationally.
Southwest Airlines — The airline stock rose more than 3% in premarket trading after the company delivered an optimistic outlook. According to Southwest, its revenue for the second quarter will increase by 8% to 12 percent compared to the period prior to the pandemic. The company posted a 32-cent loss per share for its first quarter. That is slightly less than analysts had expected. The company’s first quarter revenues were slightly higher than expected.
PayPal — The payment’s company saw shares rise 3.4% in early trading after it beat revenue estimates for the first quarter and posted a slight increase in payments volume. Although the stock price gained despite receiving weak guidance for second quarter and entire year.
Eli Lilly — The drug maker’s shares gained 3.4% in premarket trading after the company reported results from a clinical trial showing its obesity drug tirzepatide helped patients lose up to 22.5% of their weight. Eli Lilly’s first quarter earnings and revenue were better than expected and it raised its revenue forecast for the full year.
Pinterest — Shares for the image sharing company surged more than 8% on the back of better-than-expected earnings Wednesday. Pinterest announced adjusted earnings per share of 10 cents and revenue of $575 millions. Refinitiv analysts polled expected 4 cents per share for revenues of $573million.
Caterpillar — Shares of the global construction machine maker slid more than 1% despite Caterpillar beating top- and bottom-line estimates during the first quarter. The earnings per share of Caterpillar were $2.88, excluding $13.59 million in revenue. According to Refinitiv estimates, analysts expected the company would earn $2.60 per shares on sales of $13.4 billion.
Qualcomm — Shares rallied roughly 7% premarket after a better-than-expected quarterly report. Qualcomm reported adjust earnings per share at $3.21 for revenue of $11.16 million. StreetAccount reported that analyst were to make a profit at $2.95 per share for revenue of $11.16 billion.
ServiceNow — ServiceNow shares jumped more than 8% following the company’s first-quarter earnings report. The platform-as-a-service provider earned $1.73 per share on an adjusted basis and posted $1.72 billion in revenue. StreetAccount data showed that Wall Street had expected to earn $1.70 per Share and generate $1.70 Billion in revenue.
— CNBC’s Yun Li, Tanaya Macheel, Hannah Miao, Jesse Pound and Pippa Stevens contributed reporting.