Peloton, Under Armour, Monster Beverage and more
After the ringing the opening bell at Nasdaq’s New York City site, New York City on September 26, 2019, a Peloton exercise bicycle is seen.
Shannon Stapleton | Reuters
See which companies are making the headlines Friday morning trading.
Peloton — Shares of Peloton dropped more than 6% after The Wall Street Journal reported the at-home fitness company is looking for potential investors to take a minority stake in it in the realm of 15% to 20%. Post-pandemic demands, challenges in supply chains and changes in the CEO have all contributed to Peloton’s struggles. The company will announce its quarter-end results next week.
Monster Beverage — Shares rose 4% after Monster Beverage’s first-quarter revenue beat Wall Street estimates. According to StreetAccount, Monster’s revenue was $1.52 billion instead of the $1.43 billion anticipated. Earnings per share for the first quarter were slightly lower than anticipated.
Cigna — Shares jumped more than 4% after the insurance company’s quarterly earnings beat expectations. Cigna earned $6.01 per Share, as opposed to a $5.18 estimate by Refinitiv’s analysts. Cigna reported revenues of $44.1 billion against consensus estimates of $43.4 million. Cigna saw growth in pharmacy benefits management.
NRG Energy — Shares jumped more than 5% after the company released its latest quarterly figures. NRG Energy posted a quarter-end profit of $7.17 per Share on revenues of $7.9 Billion. But, the numbers weren’t comparable to FactSet estimates.
Under Armour — Shares of the sneaker and apparel company fell 21.2% after Under Armour reported an unexpected loss and shared revenue that fell below analyst estimates, as it attempts to overcome global supply chain problems. Under Armour issued disappointing forecasts for the 2023 fiscal year.
Illumina — Shares plunged 13% despite the biotechnology company reporting better-than-expected results for the previous quarter. Illumina earned $1.07 per share in its quarterly profits on revenue of $1.223 trillion. StreetAccount polled analysts and found that they expected earnings of 90c per share for revenues of $1.219 million.
News Corporation — The media company’s stock tumbled 12% following the release of quarterly results that were mostly in line with expectations. News Corporation posted a quarter-end profit of 16c per share for $2.5 billion in revenues. StreetAccount estimates that analysts were looking for earnings of 15% per share on revenue of $2.5 billion.
DraftKings — Shares dropped more than 5%, giving back a gain from earlier in the day. DraftKings posted a $1.10 loss per share for revenues of $417 millions. Refinitiv’s analysts expected to see a loss in the range of $1.15 per shares on revenue of $412 millions. DraftKings has also increased its revenue guidance for the full year in its quarterly report.
— CNBC’s Tanaya Macheel, Hannah Miao and Samantha Subin contributed reporting.