Pre-market Trading Updates

Here’s a look at some companies making notable moves in pre-market trading:

• Metaplatform: The parent company of Facebook saw its shares drop by 9%. This decline followed an increase in its full-year capital spending outlook to between $125 billion and $145 billion, sparking worries about potential AI expenditure. This news overshadowed a better-than-expected first-quarter report.
• Eli Lilly: Following a strong performance with its Zepbound and Mounjaro products, Eli Lilly’s earnings and revenues exceeded analysts’ predictions, marking nearly an 8% rise in its stock. The company raised its full-year sales forecast to a range of $82 billion to $85 billion, up from an earlier estimate of $80 billion to $83 billion.
• Alphabet: Shares surged by 7.4% after the tech giant announced first-quarter sales of $109.9 billion, surpassing the anticipated $107.2 billion. Notably, Google Cloud revenue was reported at $20.02 billion, reflecting a 63% increase year-over-year; analysts had projected $18.05 billion, according to StreetAccount.
• Microsoft: The Magnificent Seven’s share price dropped nearly 2%. Microsoft reported fiscal third-quarter capital expenditures and leases of $31.9 billion, which fell short of the $34.9 billion that analysts anticipated. Despite this, the company achieved greater profits and sales compared to last quarter.
• Royal Caribbean: The cruise line’s stock increased by 7% following its latest financial results. They reported first-quarter adjusted earnings of $3.60 per share, exceeding the anticipated $3.20. Revenue reached $4.45 billion, slightly missing the consensus estimate of $4.46 billion. Additionally, they adjusted their full-year EPS outlook.
• Caterpillar: Shares jumped 4.5% after strong sales and profit results were posted for the first quarter. Caterpillar reported adjusted earnings per share of $5.54 and revenue of $17.42 billion, surpassing the expected EPS of $4.62 and revenue of $16.61 billion.
• Amazon: Shares went up by 3% after the company reported first-quarter results that exceeded expectations. With earnings of $2.78 per share and revenue of $181.52 billion, those figures were notably higher than the expected $1.64 for earnings and $177.3 billion in revenue, according to LSEG.
• Merck: The pharmaceutical company saw a 3.4% increase following better-than-expected results for the first quarter, largely driven by demand for its cancer immunotherapy, Keytruda. Merck recorded an adjusted loss of $1.28 per share, which was better than the forecasted loss of $1.51. Revenue of $16.29 billion exceeded the expected $15.82 billion.
• Qualcomm: The chipmaker saw its stock rise by 11% after delivering adjusted profits that were better than anticipated. Second-quarter earnings reached $2.65 per adjusted share, exceeding the LSEG consensus of $2.56.
• Stellantis: Conversely, the auto manufacturer’s shares fell by 5%. Although they reported an adjusted operating profit that was three times greater than expectations, results were criticized by an analyst for being “messy,” pointing to significant variables linked to reserves and tariffs.
• Carvana: The online used car marketplace’s stock rose by more than 10%. Carvana projected growth in retail sales and adjusted EBITDA for the second quarter, setting records for both. First-quarter retail sales accounted for 187,393 vehicles compared to the 182,394 anticipated by StreetAccount.
• Ford Motor: Shares declined by 5%. Ford raised its outlook for 2026, projecting adjusted earnings before interest and taxes between $8.5 billion and $10.5 billion. The first-quarter revenue of $39.82 billion also exceeded the expected $38.82 billion from LSEG.
• KLA Corp: Shares dropped by 5% after disappointing fourth-quarter guidance, as KLA anticipated adjusted earnings to be between $8.87 and $10.87 per share, while analysts had expected $9.80. Revenue is projected at around $3.575 billion, slightly above the forecast of $3.536 billion.
• Chipotle Mexican Grill: The burrito chain’s stock rose over 4% following a 0.5% increase in same-store sales. Analysts had expected a decline of 0.7% for the same period, according to FactSet.
• Sprouts Farmers Market: The grocery chain’s shares increased by 3% after its first-quarter profits and sales surpassed estimates. Sprouts raised its full-year earnings guidance for 2026 from $5.28 to $5.44 per share to a range of $5.32 to $5.48.
• Teladoc Health: Shares fell nearly 9% after the company reported a loss of 36 cents per share. Although this surpassed the expected loss of 34 cents, higher sales were reported for the first quarter.
• Equinix: Shares fell about 5%. Despite upgrading its 2026 forecast, analysts had anticipated stronger growth. Equinix expects sales of between $10.144 billion and $10.244 billion this year, up from a previous estimate of $10.123 billion to $10.223 billion. However, this still fell in line with the high end of analyst expectations.
• Wyndham Hotels & Resorts: The hospitality sector gained over 2% after Wyndham reported adjusted earnings of 96 cents per share on revenue of $327 million, exceeding FactSet expectations of 86 cents and $322 million.
• Carrier Global: Shares rose 4% following first-quarter growth in both sales and profits, reporting adjusted earnings of 57 cents compared to the expected 51 cents, with revenue at $5.34 billion versus the consensus estimate of $5.01 billion.