Several companies made headlines before the bell, including Hershey, Apple, Amgen, Cloudflare, Expedia, Fortinet, Block, DaVita, Arista Networks, Coinbase, Union Pacific, and Mister Car Wash. Hershey’s stock rose about 1% after posting a first-quarter earnings beat, with adjusted earnings of $3.07 per share and revenue of $3.25 billion. Apple’s stock jumped over 7% following the announcement of a $110 billion stock repurchase and a beat on both top- and bottom-line figures. Amgen saw shares soar 13% after reporting a first-quarter earnings and revenue beat, as well as plans to move forward with an injectable obesity drug trial.
Cloudflare’s stock continued to sink, dropping 12% due to weak full-year guidance, despite posting a first-quarter earnings and revenue beat. Expedia’s shares slipped 11% after issuing lower-than-expected guidance for its fiscal second quarter, attributing the decline to its Vrbo segment. Fortinet’s stock plunged 8% after its second-quarter billings forecast midpoint fell short of analyst expectations, although the company beat estimates for the first quarter. Block’s shares rose 9% following the report of first-quarter adjusted earnings of 85 cents per share, higher than the expected 72 cents per share.
DaVita’s stock popped nearly 5% after posting adjusted first-quarter earnings of $2.38 per share, surpassing analyst expectations. Arista Networks saw a nearly 4% gain after an upgrade to a buy rating from Jefferies, which believes the company could benefit from AI advancements. Coinbase’s shares slipped 2% after indicating that expenses may rise, despite beating revenue expectations in the first quarter. Union Pacific saw shares rise over 1% after being upgraded to buy from hold at Stifel, with analysts highlighting a positive business strategy. Mister Car Wash stock rose 4% following an upgrade by JPMorgan to overweight, citing attractive valuation and improving trends.
Overall, these companies experienced various stock movements based on their earnings reports and guidance for the future. While some saw significant gains due to beats in earnings and revenue, others faced declines due to weaker guidance or other factors affecting their performance. Investors will continue to monitor these companies closely to assess their financial health and potential for growth in the coming quarters.
