A worker inspects a Boeing 737 MAX aircraft at Renton Airport, next to the Boeing Renton factory in Renton, Washington, on November 10, 2020.
Jason Redmond | AFP | fake images
Take a look at the companies that make the headlines in the first thing in the morning.
Enphase Energy: Shares of the solar microinverter maker rose more than 8% in premarket trading on the company’s first-quarter results. Enphase reported record revenue and beat analyst expectations at both the top and bottom. The company said Europe will be a key growth area going forward as the Russian invasion of Ukraine sends energy prices soaring.
Juniper Networks: The networking technology maker saw its shares fall 6.1% after reporting first-quarter earnings that were slightly below analyst estimates. Management said on the company’s earnings call that ongoing supply chain challenges have resulted in long lead times and elevated logistics and component costs.
Edwards Lifesciences: Shares of the artificial heart valve maker fell 3.6% despite reporting rising first-quarter revenue as the company issued weak earnings guidance for the current quarter.
Visa: Visa shares rose 5.5% premarket after an improvement in results from the previous quarter as it anticipates a recovery in travel will bring continued growth. The payments firm reported adjusted earnings per share of $1.79 on revenue of $7.19 billion. Analysts had expected adjusted earnings of $1.65 per share and $6.83 billion in revenue, according to Refinitiv.
Texas Instruments: Shares of Texas Instruments fell 2.9% after the tech company issued weak earnings and revenue guidance for the current quarter and said it expects reduced demand due to Covid restrictions in China.
Boeing: Shares of the planemaker fell 1.3% after the company posted weaker-than-expected earnings and revenue in the most recent quarter. Boeing also said it is pausing production of its 777X aircraft and doesn’t expect deliveries to begin until 2025.
Harley-Davidson: Shares of the motorcycle maker fell 1.4% after the company reported earnings for the previous quarter that were in line with analyst estimates, at $1.45 a share, according to Refinitiv. Its quarterly revenue also slightly missed estimates, at $1.3 billion versus $1.31 billion.
Robinhood: Shares of the retail brokerage fell 4.5% in early trading after the company said it will cut around 9% of its staff, citing “duplicate job roles and functions” after its expansion last year. Robinhood reported 3,800 full-time employees as of December 31.
Alphabet: Shares of Google’s parent company fell 3.5% in premarket trading after reporting a top and bottom line failure in the first quarter and weak YouTube revenue. Alphabet reported earnings per share of $24.62 per share on revenue of $68.01 billion. Analysts anticipated earnings of $25.91 on revenue of $68.11 billion, according to Refinitiv.
Microsoft – Microsoft shares were up 4% pre-market following an improvement in the top and bottom lines in the prior quarter and shared strong guidance for the current quarter. Revenue guidance for the company’s three business segments in the current quarter beat analysts’ expectations.
Capital One: Capital One shares lost 5.4% in early trading despite the company beating earnings and revenue estimates for its most recent quarter. The company’s results included a $192 million pre-tax impact from gains on corporate card portfolios and lower-than-expected net interest margins.
— CNBC’s Samantha Subin and Pippa Stevens contributed reporting
Reference-www.cnbc.com