Stock futures pointed higher Thursday after the U.S. economy grew more than expected in the second quarter and jobless claims fell to their lowest level since February.
These stocks were poised to make moves Thursday:
Shares of
Meta Platforms
(META) rose 9.5% 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 7.8% 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) was falling 6.1% 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 11% after the cruise company posted a strong earnings beat and a 33% hike to full-year guidance hike as demand remained hot.
Comcast
(CMCSA) was up 2.7% 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.
Harley-Davidson
(HOG) rose 2.6% in premarket trading after the motorcycle maker reported second-quarter earnings that missed expectations but its guidance still implies operating profit in 2023 of roughly $820 million.
AbbVie
(ABBV) was up 2% after the pharmaceutical giant reported stronger-than-expected second-quarter revenue and raised its full-year earnings guidance.
McDonald’s
(MCD) rose 0.6% after the fast-food giant’s second-quarter adjusted earnings beat analysts’ estimates as global same-store sales rose 11.7%.
Lam Research
(LRCX) was rising 4.3% 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.
Align Technology
(ALGN) rose 16% after 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.
MaxLinear
(MXL) was falling 9.5% after it announced late Wednesday that it terminated its pending acquisition of
Silicon Motion Technology
(SIMO). Earlier in the day, shares of Silicon Motion, which makes controllers used with flash-based storage devices, soared after China’s State Administration for Market Regulation approved the deal with conditions. A few hours later,
MaxLinear
called off the merger. U.S.-listed shares of Silicon Motion were down 10% after jumping 25% on Wednesday.
Boeing
(BA) rose 1.3% to $235.88 after shares of the aerospace maker were upgraded to Buy from Neutral. The price target was raised to $300 from $225.
Boeing
on Wednesday reported a narrower-than-expected second-quarter loss and free cash flow of $2.58 billion topped forecasts of $89 million.
Write to Joe Woelfel at [email protected]
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