Shares of the Facebook parent surged over 16% in the
premarket after the social media company reported better-than-expected
quarterly earnings. Daily active users, which decline in the fourth quarter for
the first time, slightly bounced back and beat analysts’ expectations. The
rally in the Meta stock came despite a revenue miss.
Also Read | In Musk’s Twitter, an Indian-American lawyer is under fire. Here’s why
Shares of Teladoc plummeted 43% after the telehealth
company released a weak earnings report and a disappointing revenue forecast.
Teladoc posted a loss of $41.58 per share for the first quarter and revenues
stood at $565.4 million. Analysts were expecting a loss of 60 cents per share
and revenues of $568.7 million.
Also Read | Explained: What changes are expected after Twitter goes private?
The restaurant chain’s stock surged 2% in the premarket
action after reporting a stronger-than-expected financial report for the first
quarter. Mcdonald’s reported revenue of $5.67 billion against the analysts’
expectation of $5.59 billion. The
company’s same-store sales rose 3.5% in the United States and even higher in
Also Read | Russia killed surrendering Ukrainians in Donetsk, UN official says
Southwest Airlines (LUV)
Shares of Southwest Airlines rose over 3% in the
premarket after the company issued a positive outlook for the current quarter.
The airline said its second-quarter revenue is expected to grow from 8% to 12%
from the same period in 2019, before the pandemic. For the first quarter, the
company reported a loss of 32 cents per share, marginally higher than the
analysts’ expectation of 30 cents. Revenues came in slightly better than
Also Read | Who was Valentin Broeksmit, Deutsche Bank whistleblower found dead at Los Angeles school?
The payment company’s stock surged 3.4% in the premarket
action after reporting higher than expected revenue for the first quarter. The
rally came despite weak guidance for the second quarter and a full year.
Also Read | US signals focus on China as QUAD summit all set to be held on May 24
Pinterest shares jumped over 8% following
better-than-expected earnings Wednesday. The image-sharing company reported
adjusted earnings of 10 cents per share against the analysts’ expectation of 4
cents per share. Revenues came in at $575 million while analysts were expecting