Market Movers: Key Financial Updates Before the Bell
Stocks of various companies have shown notable movements as investors anticipate market openings. Here are some key highlights:
Boeing Sees Improvement
Boeing’s stock increased by over 5% following a report of a narrower loss in the first quarter. The aerospace manufacturer posted a net loss of $31 million, a significant improvement compared to a $355 million loss during the same period last year. Excluding special items, the adjusted loss of 49 cents per share was better than the expected $1.18 loss, as noted by analysts from FactSet. CEO Kelly Ortberg indicated plans to request the Federal Aviation Administration’s approval for increased production of the 737 Max jets.
Tesla’s Shares Rise Despite Earnings Miss
Tesla’s stock jumped more than 7%, even though the company’s first-quarter results fell short of Wall Street’s expectations. Tesla reported an adjusted earnings of 27 cents per share on revenue of $19.34 billion—both figures lower than analysts’ predictions of 39 cents per share and $21.11 billion in revenue. CEO Elon Musk stated in the earnings call that his interactions with the Department of Government Efficiency would significantly decrease starting in May.
Enphase Energy Experiences Decline
Enphase Energy’s shares declined nearly 11% after the solar technology company fell short of analysts’ earnings and revenue expectations. CEO Badri Kothandaraman warned that tariffs impacting the company’s supply chains in China could lower gross margins by approximately 2% in the upcoming quarter.
Cava’s Positive Outlook
Shares of the fast-casual restaurant chain Cava rose nearly 6% following an upgrade from market perform to outperform by Bernstein. Analyst Danilo Gargiulo believes Cava is well-positioned to weather economic downturns and forecasts a potential rally of over 40% in share prices.
Eli Lilly Tackles Telehealth Competition
Eli Lilly’s stock climbed about 2% after the pharmaceutical company initiated legal action against four telehealth companies that sell compounded versions of its weight-loss medication Zepbound and diabetes treatment Mounjaro. The lawsuits allege deception surrounding “untested, unapproved drugs,” which detract from Lilly’s established products.
BP Receives Boost from Elliott Management
BP’s shares increased by approximately 2% after activist investor Elliott Management disclosed a regulatory filing indicating ownership of more than 5% of the oil company.
SAP Posts Earnings Beat
SAP’s stock jumped about 8% following the company’s first-quarter earnings report that exceeded expectations. SAP reported earnings of 1.44 euros per share, surpassing the anticipated 1.32 euros, although revenue fell short of forecasts.
Bristol Myers Squibb Faces Setback
Bristol Myers Squibb’s shares fell by nearly 4% after the company disclosed that its drug Cobenfy did not meet the required threshold for statistical significance in a phase 3 trial as a supplementary treatment for adults with schizophrenia.
Capital One Financial Delivers Strong Results
Capital One Financial saw its stock rise by about 3% as the company reported first-quarter earnings that exceeded expectations. The credit card issuer achieved adjusted earnings of $4.06 per share, surpassing the anticipated $3.71.
Intuitive Surgical’s Strong Performance
Shares of Intuitive Surgical rose by 7% after the company reported first-quarter results that outperformed expectations. The firm posted adjusted earnings of $1.81 per share compared to the anticipated $1.72, with revenue reaching $2.25 billion, exceeding the consensus estimate of $2.19 billion.
Duolingo Gains Favor Among Investors
Duolingo’s stock increased by 4% following Morgan Stanley’s initiation of coverage with an overweight rating. The investment firm established a high price target for Duolingo, referring to it as a “best-in-class consumer internet asset.”
GE Vernova Maintains Financial Guidance
GE Vernova’s shares surged over 7% after the energy equipment manufacturer reaffirmed its 2025 financial guidance, despite anticipating a $400 million impact from tariffs. The company targets revenue of up to $37 billion and free cash flow as high as $2.5 billion for the fiscal year.
These developments highlight the fluid nature of market dynamics as investors evaluate both challenges and opportunities within these companies. Stay tuned for further updates as the market reacts.