Starbucks — Shares of the coffee corporation dropped by 4% as it reported earnings and revenue lower than expectations for its fiscal second quarter. This marks the fifth consecutive quarter of declining same-store sales. The company announced adjusted earnings of 41 cents per share on $8.76 billion in revenue, whereas analysts predicted 49 cents on $8.82 billion.
First Solar — The solar technology firm saw a 10% decrease in shares after it issued disappointing full-year guidance, estimating earnings to be between $12.50 and $17.50 per share, falling short of the $18.14 average forecast by analysts. Their first-quarter earnings also did not meet expectations.
Booking Holdings — Shares of the online travel agency fell by 3%. Their gross bookings for the first quarter reached $46.7 billion, slightly above the $46.53 billion consensus forecast from StreetAccount. Despite this, their overall results surpassed expectations.
Super Micro Computer — The struggling server manufacturer experienced a 16% drop in shares after it revealed preliminary fiscal third-quarter results that did not meet the consensus estimates. Additionally, it revised down its earlier guidance for that quarter ending on March 31.
Visa — The financial services giant saw a modest increase of less than 1% in its shares after reporting better-than-expected earnings for the fiscal second quarter. Visa recorded quarterly earnings of $2.76 per share and revenue of $9.59 billion, while analysts had projected earnings of $2.68 per share on $9.55 billion in revenue.
Snap — Although Snap’s first-quarter revenue exceeded expectations, it opted not to offer guidance due to uncertainty in the macroeconomic environment that could impact advertising demand. Consequently, shares plummeted by over 12%. The reported loss was 8 cents per share on $1.36 billion in revenue, just above the $1.35 billion forecast by analysts.
Caesars Entertainment — Shares went up by 3%. The casino company reported first-quarter revenue of $2.79 billion, which was in line with Wall Street expectations. However, the losses were greater than anticipated, reported at 54 cents per share compared to an expected 19 cents.
Qorvo — The semiconductor solutions provider saw a nearly 9% surge in shares following strong fiscal first-quarter revenue guidance. Qorvo expects to generate $775 million in revenue, surpassing the $757 million forecasted by analysts. Its fourth-quarter results beat estimates as well.
Oneok — The midstream oil and gas company experienced a 3% decline. For the first quarter, Oneok reported adjusted earnings before interest, taxes, depreciation, and amortization of $1.78 billion, which included $31 million in transaction costs from acquiring EnLink Midstream. Analysts were looking for a figure of $1.93 billion.
Seagate Technology — The data storage firm rose by nearly 8% after providing optimistic guidance for the fiscal fourth quarter, forecasting adjusted earnings of $2.40 per share and $2.40 billion in revenue. Analysts predicted $2.07 per share earnings and $2.30 billion in revenue. Additionally, its third-quarter results surpassed expectations.
— Reporting contributed by CNBC’s Darla Mercado.
