Empty bottles of Moderna Covid-19 vaccine.<\/p>\n
Fred Tanneau | AFP | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n
Check out the companies making headlines before the market open.<\/em><\/p>\n Qualcomm<\/a><\/span><\/span><\/span> \u2014 The chipmaker slipped 8.5%. after it posted<\/a> $1.87 in adjusted earnings per share on $8.44 billion in revenue for the second quarter, while analysts polled by Refinitiv respectively anticipated $1.81 and $8.5 billion. Qualcomm also gave soft guidance and noted weak smartphone chip sales. Deutsche Bank downgraded shares <\/a>to hold from buy following the report, while JPMorgan and UBS maintained their respective overweight and neutral ratings.<\/p>\n Moderna<\/a><\/span><\/span><\/span> \u2014 Shares added 1.6% after the biotech company released its second-quarter results<\/a>. Despite posting a quarterly loss and drop in revenue, Moderna raised its full-year outlook for its Covid vaccine, its only marketable product.\u00a0<\/p>\n Southwest Airlines<\/a><\/span><\/span><\/span> \u2014 Shares of Southwest slid more than 3% after Jefferies downgraded the airline stock to underperform from hold. Jefferies said that low-cost airlines appear to be struggling relative to premium peers, citing a key revenue margin for Southwest that shrunk during the second quarter.<\/p>\n Albemarle<\/a><\/span><\/span><\/span> \u2014The energy stock added 5.4% following a mixed second-quarter report. Albemarle notably beat Wall Street expectations for earnings, reporting $7.33 per share excluding items against a consensus estimate of $4.44 compiled by Refinitiv. But revenue fell short at $2.37 billion on a $2.43 billion forecast.\u00a0<\/p>\n PayPal<\/a><\/span><\/span><\/span> \u2014 Shares declined more than 8% after the company posted earnings that were in line with analysts’ predictions Wednesday post market. The payments company reported adjusted earnings of $1.16 per share, the same estimated by analysts polled by Refinitiv. Revenue came in higher than anticipated, with PayPal posting $7.29 billion, versus analysts’ estimates of $7.27 billion.<\/p>\n DoorDash<\/a><\/span><\/span><\/span> \u2014 Shares jumped 3.5% after the company’s second-quarter results came above analyst estimates. The company reported its best-ever quarter for revenue and total orders. Management also cited improvements in expense management.\u00a0<\/p>\n Roku<\/a><\/span><\/span><\/span> \u2014 The streaming platform’s stock shed 2% following a downgrade from Citi to neutral from buy. Citi said it would be moving to the sidelines, citing limited upside for shares.\u00a0<\/p>\n Clorox<\/a><\/span><\/span><\/span> \u2014 The household good manufacturer’s shares jumped nearly 7% after posting an earnings and revenue beat in the second quarter. Clorox reported $1.67 earnings per share on $2.02 billion in revenue. Analysts had estimated $1.18 earnings per share on revenue of $1.88 billion, according to Refinitiv. The company also offered a strong full-year outlook.\u00a0<\/p>\n Etsy<\/a><\/span><\/span><\/span> \u2014 Shares tumbled 9% after the company released its quarterly earnings Wednesday after the bell. Although its earnings and revenue topped analyst expectations, the company’s guidance for the third quarter was lighter than expected.<\/p>\n Qorvo<\/a><\/span><\/span><\/span> \u2014 The stock rallied 6.8% after the company beat analyst expectations on top and bottom lines in the second quarter. Management said it expects September quarterly revenue to increase sequentially by more than 50%, “driven primarily by content gains” from Apple.\u00a0<\/p>\n Traeger<\/a><\/span><\/span><\/span> \u2014 Shares jumped more than 24% following Traeger’s second-quarter earnings announcement Wednesday post-market. The company posted 4 cents earnings per share on $171.5 million in revenue. Analysts polled by FactSet had estimated a loss of 2 cents per share and $154.9 million in revenue. The company also raised its full-year revenue and earnings guidance.\u00a0<\/p>\n Unity Software<\/a><\/span><\/span><\/span> \u2014 The software company surged about 5% after Unity exceeded analysts’ estimates for revenue in the second quarter. The company posted $533 million in revenue, while analysts polled by Refinitiv estimated $518 million.<\/p>\n DXC Technology<\/a><\/span><\/span><\/span> \u2014 DXC Technology tumbled 24% after reporting<\/a> earnings and revenue that missed estimates. The information technology firm reported adjusted earnings of 63 cents per share on revenue of $3.45 billion. Analysts polled by FactSet expected earnings of 82 cents per share on revenue of $3.56 billion. Separately, BMO Capital Markets downgraded the company to market perform from outperform following the results.<\/p>\n \u2014 CNBC’s Alex Harring, Sarah Min and Jesse Pound contributed reporting<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n Source: www.cnbc.com<\/p>\n","protected":false},"excerpt":{"rendered":" Empty bottles of Moderna Covid-19 vaccine. Fred Tanneau | AFP | Getty Images Check out the companies making headlines before the market open. Qualcomm \u2014 The chipmaker slipped 8.5%. after it posted $1.87 in adjusted earnings per share on $8.44 billion in revenue for the second quarter, while analysts polled by Refinitiv respectively anticipated $1.81…<\/p>\n","protected":false},"author":1,"featured_media":43526,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"WB4WB4WP_MODE":"","WB4WP_PAGE_SCRIPTS":"","WB4WP_PAGE_STYLES":"","WB4WP_PAGE_FONTS":"","WB4WP_PAGE_HEADER":"","WB4WP_PAGE_FOOTER":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[78],"tags":[],"class_list":["post-43525","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\n