Stocks with the biggest gains before the market: PINS, MTCH, AMD | Wilnesh News
Check out the companies making headlines before the market opens. DuPont Co. — Shares rose 5% on better-than-expected second-quarter results. Excluding certain items, the chemicals maker earned 97 cents per share on revenue of $3.17 billion. Analysts expected profits of 85 cents per share on revenue of $3.05 billion, according to LSEG. DuPont also raised its full-year profit and revenue guidance. Intel — Shares of Intel rose more than 2% after a Bloomberg article reported that the semiconductor maker plans to announce thousands of job cuts as early as this week. Microsoft—Xbox maker Microsoft reported disappointing cloud computing results and its shares fell 3%. The company reported stronger-than-expected profits and revenue, but revenue from Azure and other cloud services grew 29%, missing estimates of 31%. Advanced Micro Devices — Shares of Advanced Micro Devices rose nearly 9% on Tuesday after the chipmaker’s profit and revenue beat analysts’ after-hours expectations. AMD reported adjusted earnings of 69 cents per share, while analysts polled by LSEG expected 68 cents. Revenue was $5.84 billion, above the consensus estimate of $5.72 billion. After the AMD report was released, the stock prices of Nvidia and ASML Holding also rose by about 7% each. Arista Networks — The computer networking company beat Wall Street estimates for revenue and profit, sending its shares up 5%. Arista reported second-quarter adjusted earnings of $2.10 per share on revenue of $1.69 billion, beating the $1.95 per share on revenue of $1.65 billion expected by analysts polled by LSEG. Pinterest — The social media company fell 11% after its forward guidance lagged expectations. The company provided third-quarter revenue guidance of between $885 million and $900 million, below the $908.6 million consensus estimate of analysts polled by FactSet. However, second-quarter profit and revenue beat expectations, according to London Stock Exchange data. Starbucks — Shares of Starbucks rose 4% after the coffee chain maintained its full-year outlook. However, net sales in the third fiscal quarter fell by $9.11 billion, below analysts’ expectations of $9.24 billion, according to LSEG. Starbucks reported adjusted earnings of 93 cents per share, matching Wall Street expectations. Skyworks Solutions – Semiconductor shares fell 1% after the company failed to beat estimates with fiscal third-quarter adjusted earnings of $1.21 per share. However, revenue of $906 million beat the FactSet consensus forecast of $900.4 million. Upstart Mizuho Bank rose 6% after the lending platform upgraded its shares to outperform from underperform. Analyst Dan Dolev believes the stock could rise 19% from Tuesday’s closing price, citing improving borrower risk profiles and lower interest rates as upcoming catalysts. Boeing Co. shares rose 2% after the 737 MAX maker announced a new chief executive. Boeing said former Collins Aerospace CEO Kelly Ortberg will succeed Dave Calhoun. However, Boeing lost $2.90 per share in the second quarter, according to LSEG, which was higher than analysts’ consensus estimate of a loss of $1.97 per share. Live Nation Entertainment — The entertainment stock was little changed after reporting second-quarter revenue in line with expectations. Earnings per share were $1.03, below the $1.07 forecast by analysts surveyed by LSEG. AutoNation — The auto dealer reported second-quarter revenue of $6.48 billion, little changed, missing the $6.72 billion forecast polled by analysts polled by LSEG and likely to miss earnings due to a recent cyber incident on its dealer management system Compare. Humana — Shares of the health insurance company fell more than 7% as weak profit guidance overshadowed better-than-expected second-quarter results. Humana reiterated its full-year net profit forecast of about $16 a share. However, analysts polled by StreetAccount forecast a price of $16.34 per share. Second-quarter earnings after items were $6.96 per share on revenue of $29.38 billion, exceeding analysts’ expectations. Kraft Heinz — Shares of Kraft Heinz rose less than 1% after the ketchup, macaroni and cheese maker reported second-quarter profit that beat Wall Street expectations. But revenue of $6.48 billion fell short of analysts’ expectations of $6.55 billion, according to FactSet. Marriott International Group – The hotel chain’s second-quarter revenue of $6.44 billion was lower than the $6.47 billion expected by analysts polled by FactSet, and its shares fell 4%. Marriott’s adjusted earnings per share were $2.50, above analysts’ forecasts of $2.47. T-Mobile – The mobile network operator’s second-quarter revenue and profit beat expectations, sending shares up 3.2% before the bell. T-Mobile earned $2.49 per share on revenue of $19.77 billion, while analysts polled by LSEG forecast earnings of $2.28 per share on revenue of $19.55 billion. The company also raised its full-year customer growth forecast. Match Group — The owner of the Tinder dating app reported second-quarter revenue of $864 million on Tuesday, topping analysts’ expectations of $856.5 million, according to FactSet, sending shares soaring 9%. Match said it plans to abandon its live streaming service on its dating app and Sunset Hyperconnect’s Hakuna app. Vistra — Vistra shares rose 13% after the Texas-based power company received a 20-year extension from the Nuclear Regulatory Commission to operate its Comanche Peak nuclear power plant. The extension allows Vistra to operate the plant until 2053. . Bunge — The food company’s second-quarter net profit plunged 88% to $70 million from $622 million a year earlier, sending its shares down 6.5%. “Market conditions are improving in some areas right now, but our visibility into the second half of the year remains limited,” Chief Executive Greg Heckman said. — CNBC’s Brian Evans, Michelle Fox, Fred Imbert, Spencer Kimball, Tanaya Macheel, Jesse Pound and Samantha Subin contributed reporting.
