Meta Platforms — The parent company of Facebook saw its stock rise by about 4% after surpassing earnings expectations. Meta indicated that advertising remains strong and increased its capital spending forecast to indicate more investment in data center infrastructure, despite ongoing economic uncertainties. The company also provided guidance that met expectations for the current period.
Wayfair — The online retailer of home goods experienced a nearly 2% increase after its first-quarter results exceeded analysts’ forecasts both in revenue and earnings. Wayfair reported adjusted earnings of 10 cents per share on revenues of $2.73 billion, while analysts had predicted a loss of 22 cents per share on $2.71 billion in revenue. The company also highlighted improvements in gross profit and free cash flow.
Align Technology — This dental products firm saw its shares rise by more than 2% after reporting first-quarter earnings that exceeded expectations. Align posted adjusted earnings of $2.13 per share, outpacing the $1.99 per share estimated by analysts from FactSet. The company noted that its clear aligner products sold in the U.S. are manufactured in Mexico rather than China, which may lessen any tariff-related impacts.
Tesla — The electric vehicle manufacturer’s stock increased by nearly 1% following the dismissal of a report from The Wall Street Journal that claimed the company was looking for a successor to CEO Elon Musk.
Qualcomm — The chipmaker’s stock fell almost 8% after it forecast revenue for the current quarter slightly below expectations. Still, Qualcomm exceeded estimates for its fiscal second-quarter earnings and revenue, with substantial year-over-year growth in chip sales.
Microsoft — The technology giant’s shares rose by 8% after beating Wall Street’s forecasts for revenue and earnings in the fiscal third quarter. Microsoft also provided optimistic guidance for the full year.
CVS Health — The pharmacy chain’s stock climbed nearly 6% following its first-quarter results. CVS reported adjusted earnings of $2.25 per share on revenues of $94.59 billion, while analysts expected earnings of $1.70 per share and $93.64 billion in revenue. The company also raised its earnings outlook for the year.
Amazon — Shares increased nearly 3% after it announced plans to invest $4 billion by the end of 2026 to enhance its delivery network in rural parts of the U.S.
Eli Lilly — The pharmaceutical company’s shares dropped 10% after it cut its full-year profit outlook due to charges related to a cancer treatment deal. However, its first-quarter revenue and earnings surpassed analysts’ expectations, fueled by increasing demand for weight loss and diabetes medications. The company revised its full-year earnings forecast to a range of $20.78 to $22.28 per share, down from the previous outlook of $22.50 to $24.
Organon & Co. — Shares of this pharmaceutical firm plummeted by 26% after it reduced its quarterly dividend to 2 cents per share from 28 cents per share, aiming to enhance its capital structure and expedite debt reduction.
Becton, Dickinson and Company — The medical device manufacturer’s stock dropped about 15%. Despite beating analysts’ expectations for its second-quarter earnings and revenue, the company cut its adjusted earnings expectations for the year due to the impacts of tariffs. It now anticipates adjusted earnings between $14.06 and $14.34 per share, down from its earlier forecast of $14.30 to $14.60.
Quanta Services — The construction and engineering firm surged around 11% after reporting better-than-expected results for the first quarter. Quanta announced adjusted earnings of $1.78 per share on revenues of $6.23 billion, exceeding analysts’ expectations of $1.67 per share and $5.86 billion in revenue according to FactSet.
Carrier Global — The producer of heating and cooling products jumped 11% after increasing its full-year guidance, expecting adjusted earnings between $3 and $3.10 per share, up from a previous forecast of $2.95 to $3.05 per share. This revised outlook is also better than the consensus estimate of $2.98 per share from FactSet.
— Reporting contributed by CNBC’s Lisa Kailai Han, Pia Singh, Michelle Fox, Jesse Pound, and Darla Mercado.
