Here’s a look at the companies making headlines in intraday trading: Qualcomm — Shares of Qualcomm jumped 4% after the chipmaker reported fiscal fourth-quarter results that beat Wall Street expectations. The company also gave an optimistic outlook for the current quarter. Qualcomm reported adjusted earnings of $2.69 per share on revenue of $10.24 billion. Arm Holdings – The semiconductor company fell 4% despite beating fiscal second-quarter earnings estimates. Arm reported adjusted earnings of 30 cents per share on revenue of $844 million, while analysts polled by LSEG had expected earnings of 26 cents per share on revenue of $808 million. Wolfspeed – Shares of Wolfspeed fell 17% after the semiconductor maker missed revenue estimates and provided weak guidance for the quarter. Wolfspeed posted revenue of $195 million in the fiscal first quarter, $5 million below the consensus estimate of analysts polled by LSEG. The company said it expected revenue for the quarter to be $160 million to $200 million, below expectations of $215 million. Take-Two Interactive Software — The video game maker reported fiscal second-quarter revenue of $1.47 billion, topping the $1.43 billion expected by analysts polled by LSEG, sending its shares up 3.8%. HubSpot — The client platform gained 7% after stronger-than-expected third-quarter earnings. HubSpot expected adjusted earnings of $2.18 per share on revenue of $669.7 million, while analysts polled by FactSet forecast earnings of $1.91 per share on revenue of $647 million. The company also issued better-than-expected full-year revenue guidance. Lyft — Shares of the ride-hailing company soared nearly 20%. Third-quarter revenue was $1.52 billion, beating consensus estimates of $1.44 billion, according to LSEG. Fourth-quarter guidance beat Wall Street expectations, with Lyft forecasting bookings of $4.28 billion to $4.35 billion, compared with the FactSet consensus of $4.23 billion. MercadoLibre — The online marketplace operator fell nearly 9%. Third-quarter earnings were $7.83 per share, missing analysts’ expectations of $10 per share, according to FactSet. Red Robin Gourmet Burgers – The burger chain fell 5% after a wider-than-expected third-quarter adjusted loss of $1.13 per share, compared with the StreetAccount consensus forecast of a loss of 96 cents per share. SolarEdge Technologies — The maker of residential solar inverters fell 18%. Third-quarter revenue of $261 million was below Wall Street expectations, compared with LSEG’s consensus estimate of $269 million. Investors punished SolarEdge in regular trading, with the stock plunging 22% on concerns that President-elect Donald Trump will repeal the Inflation Reduction Act. Shares of Dutch Bros — the restaurant chain soared more than 15% after its third-quarter results topped Wall Street expectations. Dutch Brothers reported adjusted earnings of 16 cents a share on revenue of $338 million, beating analysts’ expectations of 12 cents a share on revenue of $325 million, according to LSEG. Bumble – The online dating platform fell nearly 3% despite third-quarter revenue beating LSEG’s consensus estimate of $274 million by $2 million. Match Group — the parent company of Tinder and Hinge — reported lower-than-expected revenue and guidance, sending shares down 12.6%. According to LSEG, Match Group’s third-quarter revenue was US$895 million, lower than analysts’ expectations of US$901 million. The company also gave an expected revenue range for the quarter, which was below Wall Street expectations. Elf Beauty — The cosmetics retail stock rose 11% after posting a stronger-than-expected quarterly report and raising guidance. Elf reported fiscal second-quarter adjusted earnings of 77 cents per share, topping analysts’ expectations of 43 cents, according to LSEG. Revenue rose 40% to $301 million, beating estimates of $286 million. The beauty company also raised its full-year revenue forecast. Zillow Group – The real estate market platform gained 11% after beating Wall Street estimates on both lines in the third quarter. Zillow reported adjusted earnings of 35 cents per share on revenue of $581 million. Analysts polled by LSEG expected earnings of 29 cents per share on revenue of $555 million. —CNBC’s Darla Mercado, Jesse Pound, Samantha Subin and Sean Conlon report.
Copyright © 2024 - Global News Avenue - All Rights Reserved