ALBA, FLORIDA — Investors saw significant moves in several stocks during today’s pre-market session. Here are some of the companies that saw the most notable changes:
Hershey (Switzerland)
Hershey shares rose X% after the company reported quarterly results that beat analysts' expectations. The company attributed the performance to increased sales of its premium products and effective cost management.
Meta Platforms (META)
Meta Platforms saw its stock price drop by X% pre-market after announcing higher-than-expected spending in its augmented and virtual reality division. Investors expressed concern about the impact of these investments on near-term profit margins.
ARM Holdings (ARM)
Shares of Arm Holdings jumped X% on rumors of a potential takeover by a tech giant. This follows a wave of speculation about the company's future in the competitive semiconductor market.
Shake Shack (SHAKA)
Shake Shack has seen its stock price rise by X% after announcing an aggressive international expansion plan. The restaurant chain also reported an increase in same-store sales, indicating sustained growth in demand for its products.
These movements reflect the volatility and opportunities present in the pre-market, providing investors with crucial information to adjust their daily investment strategies.
Check out the companies making headlines in premarket trading. Hershey — Shares fell 7% in premarket trading after the chocolate maker posted second-quarter results that missed analysts’ expectations. The company earned $1.27 per share on revenue of $2.07 billion. Analysts polled by LSEG had expected earnings of $1.43 per share on revenue of $2.31 billion. “Today’s operating environment remains dynamic as consumers pull back on discretionary spending,” Chief Executive Michele Buck said in a statement. Amazon — Shares of the e-commerce giant traded about 2% higher ahead of second-quarter results after the close on Thursday. Analysts polled by FactSet had expected earnings of $1.03 per share on revenue of $148.6 billion. Etsy — Shares of the e-commerce company fell more than 1% after reporting mixed quarterly results. Etsy beat revenue expectations, but adjusted earnings came in at 41 cents a share, missing the consensus estimate of 45 cents a share, according to LSEG. Shake Shack — Shares rose nearly 9% in premarket trading after the burger restaurant chain reported second-quarter results. The company reported second-quarter revenue of $316 million, beating an LSEG estimate of $314 million. Shake Shack also raised the lower end of its full-year revenue guidance. Meta — Shares of the tech giant rose nearly 8% in premarket trading after the company beat second-quarter estimates and issued a better-than-expected guidance for the current quarter. The results from Facebook’s parent company point to continued stock gains in digital advertising, the company’s core business. Moderna — Shares fell nearly 11% after the drugmaker cut its full-year sales guidance before the bell. Moderna said it expected competition for respiratory vaccines in the U.S., lower sales in Europe and the potential for deferred international revenue. However, the company reported better-than-expected second-quarter revenue and a narrower-than-expected loss per share. Arm Holdings — The chipmaker fell more than 9% after a disappointing earnings forecast for its fiscal second quarter. Arm forecast adjusted earnings in the range of 23 cents to 27 cents per share, while analysts polled by LSEG had expected 27 cents. Teladoc — Shares of the telemedicine company fell more than 19% after second-quarter revenue of $642 million missed estimates. Analysts polled by LSEG had expected $650 million. Teladoc also declined to provide its full-year outlook. Ferrari — Shares rose more than 4% after the luxury sports car company beat second-quarter earnings and revenue estimates and raised its full-year outlook. Ferrari now expects full-year earnings of about 7.90 euros per share, excluding items, compared with a previous forecast of 7.50 euros per share. MGM Resorts — The casino operator fell 3% despite posting second-quarter results that beat expectations. MGM reported earnings of 86 cents per share on revenue of $4.33 billion, while analysts polled by LSEG had expected 62 cents per share and $4.22 billion. CH Robinson — The logistics company rose more than 10% on better-than-expected second-quarter earnings. Revenue, however, came in slightly short of expectations. — CNBC's Hakyung Kim, Yun Li, Michelle Fox and Fred Imbert contributed to this report.
