Here’s a look at some of the companies that are garnering attention in premarket trading: Hershey — Shares fell 7% in the premarket after the chocolate maker reported second-quarter results that fell short of analysts’ expectations. The company earned $1.27 a share on revenue of $2.07 billion. Analysts surveyed by LSEG had expected earnings of $1.43 a share on revenue of $2.31 billion. “The operating environment today remains dynamic as consumers pull back on discretionary spending,” CEO Michelle Buck said in a statement. Amazon — Shares of the e-commerce giant rose about 2% after the close on Thursday ahead of the release of its second-quarter earnings. Analysts surveyed by FactSet expect earnings of $1.03 a share on revenue of $148.6 billion. Etsy — The e-commerce stock fell more than 1% after mixed quarterly results. Etsy beat revenue expectations but adjusted earnings of 41 cents per share fell short of the consensus estimate of 45 cents per share, according to LSEG. Shake Shack — Shares rose nearly 9% in premarket trading after the burger restaurant chain released its second-quarter financial results. The company reported second-quarter revenue of $316 million, beating LSEG’s forecast of $314 million. Shake Shack also raised the low end of its full-year revenue outlook. Meta — Shares surged nearly 8% in premarket trading after the tech giant beat second-quarter expectations and provided better-than-expected guidance for the current period. The Facebook parent’s results point to continued share gains in the digital advertising market, its core business. Moderna — Shares fell nearly 11% after the pharmaceutical company lowered its full-year revenue outlook before the close.Moderna said it was looking at competition for its respiratory vaccine in the U.S., lower sales in Europe and possible deferred revenue overseas. But the company reported second-quarter revenue that beat expectations and a smaller-than-expected loss per share. Arm Holdings — The chipmaker fell more than 9% after its second-quarter profit outlook was disappointing. Arm now sees adjusted earnings per share in the range of 23 cents to 27 cents, while analysts surveyed by LSEG had expected 27 cents. Teladoc — Shares of the telemedicine company fell more than 19% after second-quarter revenue fell short of expectations at $642 million. Analysts surveyed by LSEG had expected $650 million. Teladoc also did not provide a full-year outlook. Ferrari — Shares rose more than 4% after the luxury sports car company reported second-quarter profit and revenue that beat expectations and raised its full-year outlook. Ferrari now expects full-year earnings per share excluding special items to be around 7.90 euros. That’s up from a previous forecast of 7.50 euros per share. MGM Resorts — The casino operator fell 3% despite reporting better-than-expected second-quarter results. MGM reported earnings per share of 86 cents on revenue of $4.33 billion, while analysts surveyed by LSEG had expected earnings per share of 62 cents on revenue of $4.22 billion. CH Robinson — Logistics company CH Robinson rose more than 10% after second-quarter profit beat expectations. Revenue fell slightly below expectations. — CNBC’s Hakyung Kim, Yun Lee, Michelle Fox and Fred Imbert reported.
Biggest movers in premarket trading: HSY, META, ARM, SHAK
