Morning Movers
Watch us on YouTube Live at 8:30AM EST

ABNB.NQ -0.20%
Airbnb Inc – Higher after posting a much smaller than expected quarterly loss on record bookings, revenue in the first quarter was $1.5 billion, up 70 percent from the same period a year earlier, the company said, adding that its quarterly loss shrank to $19 million from a loss of $1.2 billion in the first quarter of 2021. The San Francisco-based company’s earnings reflect an ongoing recovery in the travel industry and show that Airbnb is gaining share in the market. The company also guide for second-quarter revenue to come in a range of $2.03 billion to $2.13 billion. Analysts were projecting second-quarter revenue at $1.97 billion.

UBER.NY -1.06%
Uber Technologies – Uber on Wednesday beat expected operating earnings and forecast a strong second quarter, saying it had no need to offer extra incentives to boost its driver supply, unlike its smaller rival Lyft. Uber reported a dip in monthly active users in the first three months of the year from the previous quarter, a common trend in the industry during the colder winter months, but was keen to set itself apart from its smaller competitor. Posted $6.9 billion, total first-quarter revenue rose 136% and exceeded estimates for $6.13 billion. On a net basis, Uber’s first-quarter loss surged to $5.9 billion from $108 million a year ago, driven by $5.6 billion in drops in the value of stakes in other, poorly performing companies, primarily Chinese ride-hail company Didi Global Inc.

Lyft Inc – Dismal guidance has the shares tumbling premarket, the stock initially rose after the report as it posted adj. EBITDA of $54.8 mln compared with its guidance range of $5 mln-$15 mln; rev of $875.6 mln beat Wall St consensus of $846.3 mln. During the conference call the company’s CFO forecast Q2 adj EBITDA of $10 mln-$20 mln and Q2 rev of $950 mln-$1 bln vs analyst expectations of $1.02 bl. Lyft President told Reuters pandemic tailwind is impacting business more than inflationary pressure, with ride demand recovering to around 70% of Q4 2019 levels.

AMD.NQ 5.31%
Advanced Micro Devices – The chipmaker on Tuesday forecast stronger- than-expected full year and second-quarter revenue, with the data center boom boosting demand for its chips, and its shares rose in after-hours trade. The company said it expects revenue of about $6.5 billion, plus or minus $200 million for the current quarter. Analysts on average were expecting revenue of $6.38 billion. For the full year it forecast $26.3 billion, up about 60%, and ahead of analysts estimates of $25.145 billion according to Refinitiv IBES data. AMD’s first-quarter revenue came in at $5.89 billion, above analysts’ average estimate of $5.52 billion. On an adjusted basis, AMD earned $1.13 per share, during the quarter, compared to Street’s estimates of 91 cents per share.

MRNA.NQ 7.27%
Moderna Inc – Reported Q1 sales of $6.07 bln beat Refinitiv est of $4.62 bln, helped by strong demand for its COVID-19 vaccine. Moderna reiterated its prior forecast of $21 bln in vaccine sales, and sees higher vaccine sales in H2 2022 than H1 2022. The company said it expects that COVID “market dynamics” will result in slightly higher sales in the second half of 2022 than in the first half. Sales of COVID-19 vaccines have started to ease from their 2021 highs. Pfizer also kept its COVID-19 vaccine sales forecast unchanged.

SBUX.NQ 7.05%
Starbucks Corp – The company suspended its guidance for the rest of its fiscal year on Tuesday as sales growth missed Wall Street targets due to China’s tough COVID-19 curbs. Comparable sales in China the company’s second largest market rose 7% in the second quarter, while analysts polled by Refinitiv had expected 7.1% growth. Total net revenue rose to $7.64 billion from $6.67 billion a year earlier, analysts had expected $7.59 billion in quarterly revenue.

Oil Stocks – Higher across the board with the price for crude as the European Union spelled out plans to phase out imports of Russian oil, offsetting demand worries in top importer China. OXY, CVX, XOM, DVN all up between 1.5% and 3% premarket.

LTHM.NY 20.53%
Livent Corp – Another stock up on an earnings beat, the company on Tuesday posted a better-than-expected quarterly profit and bolstered its 2022 revenue forecast as it benefited from higher demand for lithium used in electric-vehicle batteries. The Philadelphia-based company now expects annual revenue of $755 million to $835 million from its previous forecast of $540 million to $600 million. Livent posted a net profit of $53.2 million, or 28 cents per share, for the first quarter, compared with a loss of $800,000, or 1 cent per share, a year earlier Excluding items, the company earned 21 cents per share, beating analysts’ expectations of 14 cents per share. Revenue rose 56% to $143.5 million. Analysts on average were expecting revenue of $140.15 million.

OTLY.NQ 10.89%
Otly Group – Oatly higher after pointing to improved manufacturing pace, posted EPS of -$0.15 misses by $0.02, revenue of $166.2M beats by $5.22M.

RVSN.NQ 37.04%
Rail Vision Ltd – Nano cap, lidar sensor maker higher on no apparent news. $21m market cap, 10m free float.

Leave a Reply

Your email address will not be published.