Check out the companies making headlines before the market opens. Hershey — Shares of Hershey rose about 1% after the chocolate candy maker reported better-than-expected first-quarter earnings. The company reported adjusted earnings of $3.07 per share, above the $2.76 per share expected by analysts polled by LSEG. Hershey’s revenue of $3.25 billion also beat estimates of $3.11 billion. Apple — The technology giant announced it would repurchase $110 billion worth of its own stock, with revenue and profits beating expectations and sending its shares up more than 7%. Apple reported fiscal second-quarter earnings of $1.53 per share on revenue of $90.75 billion. That beat analysts’ expectations for LSEG’s earnings of $1.50 per share on revenue of $90.01 billion. Amgen — Shares of Amgen soared 13% after the biotech company reported better-than-expected first-quarter profit and revenue. The company also announced it will continue its injectable obesity drug into Phase 3 trials. Meanwhile, shares of Novo Nordisk and Eli Lilly were trading lower on Friday morning. Cloudflare — Although Cloudflare reported first-quarter earnings and revenue that topped expectations, the stock continued its decline after reporting weak full-year guidance, plunging 12%. Expedia — Shares of Expedia fell 11% after the online travel booking company issued lower-than-expected fiscal second-quarter guidance, with executives pointing to its Vrbo business as a drag on its results. Firms including BMO Capital Markets and Piper Sandler downgraded the stock following the quarterly results. Fortinet — Shares of Fortinet plunged 8% after the company’s midpoint forecast for second-quarter revenue fell short of analysts’ estimates. However, the company’s first-quarter performance exceeded analysts’ expectations. Block — Shares of Block — the payment services provider — rose 9% a day after the company reported first-quarter adjusted earnings of 85 cents a share, beating expectations of 72 cents a share in an LSEG analyst survey. Revenue was $5.96 billion, beating consensus estimates of $5.82 billion. DaVita — The health care provider reported adjusted first-quarter earnings of $2.38 a share, beating analysts’ expectations of $1.95 a share polled by FactSet, sending shares up nearly 5%. DaVita’s revenue of $3.07 billion also unexpectedly rose, beating estimates of $3.03 billion. Arista Networks — Shares of the cloud networking company rose nearly 4% after Jefferies upgraded the stock to buy from hold. The bank believes Arista could be “a major beneficiary of artificial intelligence.” Coinbase – Shares of Coinbase fell 2% after the cryptocurrency exchange said fees may increase. However, Coinbase’s first-quarter revenue of $1.64 billion exceeded consensus estimates of $1.34 billion, according to LSEG. Union Pacific – Shares of the troubled railroad operator rose more than 1% after Stifel upgraded its rating to buy and raised its price target by $19 to $267. Analyst Benjamin Nolan said the “sweat it out” strategy could be good for the business. Mister Car Wash — The car wash stock rose 4% after JPMorgan upgraded the stock to overweight. The bank cited attractive valuations and visibility of improving trends as catalysts and said trends were shifting in favor of the stock. —CNBC’s Brian Evans, Michelle Fox, Hakyung Kim and Tanaya Macheel contributed reporting.
