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Pre-Open Movers: Meta, Qualcomm Fall; Renewable Stocks Up on Schumer/Manchin Deal

Published 2022-07-28, 09:16 a/m
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Pre-Open Stock Movers:

Community Health Systems (NYSE:CYH) 48% LOWER; reported Q2 EPS of ($2.52), $2.59 worse than the analyst estimate of $0.07. Revenue for the quarter came in at $2.93 billion versus the consensus estimate of $3.14 billion.

JAKKS Pacific (JAKK) 31% HIGHER; reported Q2 EPS of $2.10, $2.53 better than the analyst estimate of ($0.43). Revenue for the quarter came in at $220.4 million versus the consensus estimate of $122.07 million.

Teladoc (NYSE:TDOC) 24% LOWER; reported Q2 EPS of ($19.22), which may not compare to the analyst estimate of ($0.64). Revenue for the quarter came in at $592.4 million versus the consensus estimate of $587.71 million. Teladoc sees Q3 2022 EPS of ($0.85)-($0.60), versus the consensus of ($0.55). Teladoc sees Q3 2022 revenue of $600-620 million, versus the consensus of $613.73 million. Teladoc sees FY2022 EPS of ($62.00)-($61.00), versus the consensus of ($42.89). Teladoc sees FY2022 revenue of $2.4-2.5 billion, versus the consensus of $2.43 billion.

Plug Power Inc. (NASDAQ:PLUG) 15% HIGHER; gains as Senator Joe Manchin and Senate Majority Leader Chuck Schumer struck a deal.

First Solar, Inc. (NASDAQ:FSLR) 13% HIGHER; gains as Senator Joe Manchin and Senate Majority Leader Chuck Schumer struck a deal.

SunPower Corporation (NASDAQ:SPWR) 13% HIGHER; gains as Senator Joe Manchin and Senate Majority Leader Chuck Schumer struck a deal.

Sunrun Inc . (NASDAQ:RUN) 13% HIGHER; gains as Senator Joe Manchin and Senate Majority Leader Chuck Schumer struck a deal.

Noodles & Company (NDLS) 10% LOWER; reported Q2 EPS of $0.05, $0.02 worse than the analyst estimate of $0.07. Revenue for the quarter came in at $131.1 million versus the consensus estimate of $130.91 million. Noodles & Company sees Q3 2022 revenue of $125.5-128.5 million, versus the consensus of $132 million.

Etsy (NASDAQ:ETSY) 8% HIGHER; reported Q2 EPS of $0.51, $0.19 better than the analyst estimate of $0.32. Revenue for the quarter came in at $585.1 million versus the consensus estimate of $558.47 million. Consolidated GMS was $3.0 billion, down 0.4% year-over-year and up 2.6% on a currency neutral basis. Etsy sees Q3 2022 revenue of $540-575 million, versus the consensus of $570.27 million.

Ford Motor (NYSE:F) 7% HIGHER; reported Q2 EPS of $0.68, $0.23 better than the analyst estimate of $0.45. Revenue for the quarter came in at $40.2 billion versus the consensus estimate of $37.05 billion. Affirms guidance for full-year 2022 results: adjusted EBIT of $11.5 billion to $12.5 billion, up 15% to 25% from 2021; adjusted free cash flow of $5.5 billion to $6.5 billion.

Baxter (NYSE:BAX) (BAX) 7% LOWER; reported Q2 EPS of $0.87, in-line with the analyst estimate of $0.87. Revenue for the quarter came in at $3.75 billion versus the consensus estimate of $3.88 billion. Baxter sees FY2022 EPS of $3.60-$3.70, versus the consensus of $4.13.

Southwest Airlines (NYSE:LUV) (LUV) 7% LOWER; reported Q2 EPS of $1.30, $0.17 better than the analyst estimate of $1.13. Revenue for the quarter came in at $6.7 billion versus the consensus estimate of $6.6 billion. Sees Q3 operating revenue up 8-12%

Harley-Davidson (NYSE:HOG) (HOG) 6% HIGHER; reported Q2 EPS of $1.46, $0.34 better than the analyst estimate of $1.12. Revenue for the quarter came in at $1.47 billion versus the consensus estimate of $1.25 billion.

ServiceNow (NYSE:NOW) 6% LOWER; reported Q2 EPS of $1.62, $0.07 better than the analyst estimate of $1.55. Revenue for the quarter came in at $1.75 billion versus the consensus estimate of $1.76 billion.

Meta Platforms (META) 5% LOWER; reported Q2 EPS of $2.46, $0.10 worse than the analyst estimate of $2.56. Revenue for the quarter came in at $28.82 billion versus the consensus estimate of $28.94 billion. Meta Platforms sees Q3 2022 revenue of $26-28.5 billion, versus the consensus of $30.5 billion.

Enphase Energy, Inc. (NASDAQ:ENPH) 5% HIGHER; gains as Senator Joe Manchin and Senate Majority Leader Chuck Schumer struck a deal.

Best Buy Co., Inc. (NYSE:BBY) 4% LOWER; lowered Q2 and FY outlook

Qualcomm (NASDAQ:QCOM) 3% LOWER; reported Q3 EPS of $2.96, $0.07 better than the analyst estimate of $2.89. Revenue for the quarter came in at $10.93 billion versus the consensus estimate of $10.87 billion. Qualcomm sees Q4 2022 EPS of $3.00-$3.30, versus the consensus of $3.23. Qualcomm sees Q4 2022 revenue of $11-11.8 billion, versus the consensus of $11.87 billion.

O'Reilly Automotive (NASDAQ:ORLY) 3% LOWER; reported Q2 EPS of $8.78, $0.20 worse than the analyst estimate of $8.98. Revenue for the quarter came in at $3.67 billion versus the consensus estimate of $3.71 billion. O'Reilly Automotive sees FY2022 EPS of $31.25-$31.75, versus the consensus of $32.92. O'Reilly Automotive sees FY2022 revenue of $14-14.3 billion, versus the consensus of $14.3 billion.

Spirit Airlines (NYSE:SAVE), Inc. (Spirit) (SAVE) 2% HIGHER; JetBlue (JBLU) and Spirit announced that their boards of directors have approved a definitive merger agreement under which JetBlue will acquire Spirit for $33.50 per share in cash, including a prepayment of $2.50 per share in cash payable upon Spirit stockholders approval of the transaction and a ticking fee of $0.10 per month starting in January 2023 through closing, for an aggregate fully diluted equity value of $3.8 billion and an adjusted enterprise value of $7.6 billion.

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