Markets closed lower Thursday, with the Dow snapping a 13-day winning streak as traders parsed through strong economic data.
These stocks made moves Thursday:
Shares of
Meta Platforms
(ticker: META) rose 4.4% after the parent company of Facebook, Instagram, WhatsApp, and Threads, reported better-than-expected second-quarter earnings and said it anticipates third-quarter revenue of $32 billion to $34.5 billion, higher than Wall Street estimates of $31.2 billion.
“We had a good quarter. We continue to see strong engagement across our apps and we have the most exciting roadmap I’ve seen in a while with Llama 2, Threads, Reels, new AI products in the pipeline, and the launch of Quest 3 this fall,”
Meta
CEO Mark Zuckerberg said in a statement.
Chipotle Mexican Grill
(CMG) declined 9.8% after the burrito chain’s second-quarter earnings beat expectations but revenue of $2.51 billion fell short. Same-store sales also were softer than projected, growing 7.4% in the quarter, while analysts had expected an increase of 7.5%.
Southwest Airlines
(LUV) fell 9% after the low-cost carrier said it expected revenue per available seat mile to fall in the third quarter, and anticipates costs to rise this year, driven by higher labor rates and wage accruals.
Royal Caribbean
(RCL) jumped 8.7% after the cruise company posted a strong earnings beat and a 33% hike to full-year guidance as demand remained hot.
QuantumScape
(QS) gained 14% after the maker of batteries for electric vehicles posted a narrower-than-expected adjusted Ebitda loss in the second quarter, and said it shipped high cathode-loading unit cells to multiple
automotive partners, which is “in line with our development roadmap.”
Align Technology
(ALGN) rose 13% after the maker of clear tooth straighteners posted second-quarter adjusted earnings that beat expectations and said it expects third-quarter revenue of $990 million to $1.01 billion vs. consensus of $990 million. The stock was the best performer in the
S&P 500
on Thursday.
Lam Research
(LRCX) rose 9.3% after the maker of chip equipment said it expects fiscal first-quarter revenue of between $3.1 billion and $3.7 billion, while analysts forecast $3.3 billion. The company also said it expects adjusted earnings in the period of between $5.30 and $6.80 a share vs. analysts’ expectations of $5.56 a share.
Shares of
eBay
(EBAY) declined 11% after the online marketplace issued an earnings forecast for the third quarter that missed analysts’ estimates.
Comcast
(CMCSA) was up 5.7% after the cable and media company reported earnings and revenue above Wall Street estimates following the successful release of The Super Mario Bros. Movie and an increase in streaming revenue.
AbbVie
(ABBV) was up 4.9% after the pharmaceutical giant reported stronger-than-expected second-quarter revenue and raised its full-year earnings guidance.
McDonald’s
(MCD) rose 1.2% after the fast-food giant’s second-quarter adjusted earnings beat analysts’ estimates as global same-store sales rose 11.7%.
Write to Joe Woelfel at [email protected]
Read the full article here
