During Market hours yesterday (Tuesday – 26.04.2022)

  • The Dow (Symbol: DIA) went down 2.38%. The S&P 500 (Symbol: SPY) lost 2.90%. and the Nasdaq (Symbol: QQQ) fell 3.77%.
  • General Electric (Symbol: GE) — Shares slid more than 10% despite the industrial company reporting top and bottom line beats for the first quarter. CEO Lawrence Culp said GE is “trending toward the low end” of its guidance due in part to inflation pressure. Additionally, pressures from supply chain issues, the war in Ukraine and the spread of Covid hurt GE’s revenue by six percentage points, Culp said.
  • United Parcel Service (Symbol: UPS) — The shipping stock dropped 2.6% despite a stronger-than-expected first quarter report. UPS earned an adjusted $3.05 per share on $24.38 billion of revenue. Analysts surveyed by Refinitiv were expecting $2.88 per share and $23.78 billion of revenue. The company maintained its guidance, but CEO Carol Tome said on a conference call with analysts that e-commerce growth was slowing relative to the boom during Covid.
  • Warner Bros. Discovery (Symbol: WBD) — The media giant’s shares fell more than 4% after the company warned its 2022 profit would be lower than expected. Chief financial officer Gunnar Wiedenfels cited “unexpected projects” and weaker first-quarter WarnerMedia operating profit on the company’s earnings call.
  • Zions Bancorporation (Symbol: ZION) — The regional bank’s shares dropped more than 7% following a downgrade by Raymond James to market perform. The company also posted net interest income that was lower than estimates, according to FactSet’s StreetAccount. Zions’ financial guidance, which was unchanged, included moderate growth over the next year.
  • Universal Health Services (Symbol: UHS) — Shares of the health services operator fell about 9.5% following the company’s quarterly results, which include weaker-than-expected earnings of $2.15 per share. Analysts estimated earnings of $2.47 per share, according to FactSet’s StreetAccount.
  • 3M (Symbol: MMM) — Shares of the industrial conglomerate declined by more than 3% despite the company reporting quarterly earnings and revenue that came in above consensus estimates. 3M also said it anticipates weaker mask demand and rising cost pressures.

During Premarket hours today (Wednesday – 27.04.2022):

  • Enphase Energy (Symbol: ENPH) — Shares of the solar microinverter maker jumped more than 8.56% during premarket trading following the company’s first-quarter results. Enphase reported record revenue, and exceeded analyst expectations on the both the top and bottom line. The company said Europe will be a key growth area looking forward as Russia’s invasion of Ukraine sends power prices soaring.
  • Visa (Symbol: V) — Visa’s stock surged 5.5% premarket following a beat on the top and bottom lines in the previous quarter, as it anticipates travel recovery will bring continued growth. The payments firm reported adjusted earnings per share of $1.79 on revenues of $7.19 billion. Analysts expected $1.65 adjusted earnings per share and $6.83 billion in revenue, according to Refinitiv.
  • Boeing (Symbol: BO) — The aircraft maker’s shares slipped by 3.95% after the company recorded weaker-than-expected earnings and revenue for the most recent quarter. Boeing also said it’s pausing production of its 777X plane and doesn’t expect deliveries to start until 2025.
  • Harley-Davidson (Symbol: HOG) — Shares of the motorcycle maker shed 1.4% after the company reported earnings for the previous quarter that were in line with analysts’ estimates, at $1.45 per share, according to Refinitiv. It’s quarterly revenue also slightly missed estimates, at $1.30 billion versus $1.31 billion.
  • Robinhood (Symbol: HOOD) — The retail brokerage’s shares fell 4.5% in early trading after the company reported it will cut about 9% of its staff, citing “duplicate roles and job functions” after its expansion last year. Robinhood reported 3,800 full-time employees as of Dec. 31.
  • Alphabet (Symbol: GOOGL) — Shares of Google’s parent company dipped 3.5% during premarket trading after reporting a miss on the top and bottom lines in the first quarte and weak revenue from YouTube. Alphabet reported earnings per share of $24.62 per share on revenues of $68.01 billion. Analysts anticipated earnings of $25.91 on revenues of $68.11 billion, according to Refinitiv.
  • Microsoft (Symbol: MSFT) — Shares of Microsoft rose 4% premarket following a beat on the top and bottom lines in the previous quarter and shared strong guidance for the current quarter. Revenue guidance for all three of the company’s business segments in the current quarter topped analysts’ expectations.

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