Check out the companies making headlines in intraday trading: New York Community Bank — CEO Joseph Otting said in a release, “We have a clear path to profitability over the next two years.” After the announcement, the struggling local bank’s stock price soared more than 31%. . ” The bank posted a quarterly loss of $335 million on Wednesday due to deterioration in commercial loans and higher expenses. Super microcomputers — this server his vendor fell 15% after missing fiscal third-quarter revenue expectations. However, Supermicro said its adjusted profit beat analysts’ expectations and raised its earnings outlook for fiscal 2024. STARBUCKS — Shares fell more than 16% after the coffee chain’s quarterly results fell short of expectations on both sales and bottom line. Starbucks posted adjusted earnings of 68 cents per share on revenue of $8.56 billion. According to LSEG, this fell short of analysts’ expectations for earnings of 79 cents a share and revenue of $9.13 billion. Pfizer — The company’s stock rose 3% after the company beat Wall Street’s first-quarter sales expectations and raised its full-year profit outlook. Pfizer now expects full-year adjusted earnings of $2.15 to $2.35 per share, higher than previous expectations of $2.05 to $2.25 per share. Skyworks Solutions — TD Cowen downgraded his Skyworks from buy to hold, Apple’s supplier down his 15%. The company said it expects a number of headwinds and that the stock’s risk-reward ratio will be negative “until we have greater visibility into promoting mobile content.” Amazon — The tech giant rose 1.3% on the back of strong first-quarter profits and sales. Amazon Web Services also outperformed analysts’ expectations, with advertising revenue up 24% in the first quarter. SIRIUS CVS Health — Shares fell 16% after the drugstore chain and pharmacy benefits manager’s first-quarter adjusted earnings and sales misses. Additionally, CVS lowered its full-year profit forecast, citing rising medical costs, which also fell short of consensus estimates. Powell Industries — The Houston-based power infrastructure company beat Wall Street’s fiscal second-quarter expectations and rose 22%. Mr. Powell reported earnings of $2.75 per share and sales of $255 million. In the same period last year, the company reported earnings of 70 cents per share on revenue of $171.4 million. Estée Lauder — Shares of beauty and skin care conglomerate Estée Lauder fell 12% following a disappointing outlook for fourth-quarter earnings. Estée Lauder now expects adjusted earnings of 19 to 29 cents per share, below analysts’ expectations of 76 cents per share, LSEG said. Kraft Heinz — Shares of the ketchup and packaged food maker fell 6.6% following weak first-quarter earnings. Kraft Heinz’s sales for the three-month period were $6.41 billion, slightly below the $6.43 billion expected by analysts polled by LSEG. Adjusted earnings were 69 cents per share, in line with expectations. Pinterest — The social media platform’s stock soared 21% after the company beat Wall Street’s revenue and bottom line estimates for the first quarter. Pinterest’s second-quarter revenue outlook also beat expectations. The company was projecting his sales of $835 million to $850 million, compared to LSEG’s consensus estimate of $827 million. Advanced Micro Devices — fell 9.5% after the company issued inline guidance for second-quarter sales, projecting current quarter sales of about $5.7 billion, or annual growth of 6% . Yum Brands — The fast food giant fell nearly 4% after reporting quarterly adjusted profit and sales that fell short of analysts’ expectations. KFC and Pizza Hut struggled to attract customers and reported lower same-store sales, while Taco Bell’s same-store sales rose just 1%. 3M — Shares are on the rise as JPMorgan upgrades the conglomerate’s stock from neutral to overweight, attracted by current trading price and earnings momentum after JPMorgan beat earnings estimates on improving electronics demand It rose by 2.8%. —CNBC’s Alex Harring, Yun Li, Lisa Kailai Han, Hakyung Kim and Michelle Fox contributed reporting.
Stocks with the biggest price movements at midday: SMCI, SBUX, PFE
