{"id":43490,"date":"2023-08-02T09:37:54","date_gmt":"2023-08-02T13:37:54","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/amd-starbucks-generac-ea-solaredge-match-humana-and-more-market-movers\/"},"modified":"2023-08-02T09:37:56","modified_gmt":"2023-08-02T13:37:56","slug":"amd-starbucks-generac-ea-solaredge-match-humana-and-more-market-movers","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=43490","title":{"rendered":"AMD, Starbucks, Generac, EA, SolarEdge, Match, Humana, and More Market Movers"},"content":{"rendered":"
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Stock futures were falling sharply Wednesday\u00a0after Fitch Ratings downgraded its rating on U.S. long-term debt one notch to AA+ from AAA. The downgrade, Fitch said, reflects \u201cthe expected fiscal deterioration over the next three years, a high and growing general government debt burden and the erosion of governance\u201d following repeated debt limit standoffs and last-minute resolutions.<\/p>\n

These stocks were poised to make moves Wednesday:\u00a0<\/p>\n

\n

\n Advanced Micro Devices
\n (AMD) reported second-quarter earnings that beat analysts\u2019 expectations and issued revenue guidance for the third quarter of $5.7 billion at the midpoint of a range, slightly below consensus of $5.8 billion. The stock was up 2.2% in premarket trading, getting a lift from the chip maker\u2019s latest update on its artificial intelligence portfolio and predictions about the AI market.<\/p>\n

Fiscal third-quarter earnings from
\n Starbucks
\n (SBUX) topped Wall Street estimates, but sales came up short and shares of the coffee chain were falling 1.3% in premarket trading. Same-store sales rose by 10%, below analysts\u2019 forecasts of 11%.<\/p>\n

\n Generac
\n (GNRC) dropped 12% after the company, which sells generators and other backup power systems,\u00a0reported second-quarter earnings that missed estimates and Chief Executive Aaron Jagdfeld said that \u201cexpectations for the consumer environment are now softer than previously projected.\u201d<\/p>\n

\n Humana
\n (HUM) was rising 4.5% after the health insurer reported second-quarter earnings above forecasts and noted the Medicare Advantage utilization environment was \u201cstabilizing\u201d based on recent claims activity.<\/p>\n

\n Electronic Arts
\n (EA) slumped 4.5% after the videogame publisher forecast fiscal second-quarter earnings of 72 cents a share to 89 cents a share on net revenue of $1.83 billion to $1.93 billion, missing analysts\u2019 expectations. EA also said it expects bookings of $1.7 billion to $1.8 billion in the period vs. consensus of $1.82 billion.<\/p>\n

\n Pinterest
\n (PINS) posted adjusted earnings and revenue in the second quarter that topped analysts\u2019 estimates. Shares of the image-sharing platform, however, fell 2.7% in premarket trading.<\/p>\n

\n SolarEdge Technologies
\n (SEDG) fell 13% after missing second-quarter revenue expectations and issuing a third-quarter revenue forecast that also was below estimates. In a statement, the company said the\u00a0U.S.\u00a0residential solar market was \u201ccurrently seeing some headwinds primarily related to higher interest rates.\u201d<\/p>\n

Shares of
\n e.l.f. Beauty
\n (ELF) surged 18% after the maker of beauty products reported fiscal first-quarter earnings and sales that smashed Wall Street expectations and boosted guidance for the fiscal year.<\/p>\n

\n Match Group
\n (MTCH) was up 10% after the online dating company swung to a profit in the second quarter and revenue rose 4% to $830 million, beating forecasts of $812 million.<\/p>\n

\n Virgin Galactic
\n (SPCE) fell 6.3% after reporting second-quarter revenue that missed analysts\u2019 estimates. The space tourism company also reported a quarterly loss of 46 cents a share, narrower than estimates that called for a loss of 51 cents. <\/p>\n

\n CVS Health
\n (CVS) was rising 2% in premarket trading after the health insurance provider, which also owns a retail pharmacy chain and a pharmacy benefit manager, reported second-quarter adjusted earnings that beat analysts\u2019 estimates.<\/p>\n

Write to Joe Woelfel at\u00a0joseph.woelfel@barrons.com\u00a0<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Stock futures were falling sharply Wednesday\u00a0after Fitch Ratings downgraded its rating on U.S. long-term debt one notch to AA+ from AAA. The downgrade, Fitch said, reflects \u201cthe expected fiscal deterioration over the next three years, a high and growing general government debt burden and the erosion of governance\u201d following repeated debt limit standoffs and last-minute […]<\/p>\n","protected":false},"author":1,"featured_media":43491,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-43490","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nAMD, Starbucks, Generac, EA, SolarEdge, Match, Humana, and More Market Movers | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Stock futures were falling sharply Wednesday\u00a0after Fitch Ratings downgraded its rating on U.S. long-term debt one notch to AA+ from AAA. 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