CMG, TSLA, NOW, LVS and more
Check out the companies making headlines in premarket trading. Meme stocks — These stocks once again are making attention-grabbing moves. Opendoor Technologies jumped 7%, while GoPro and Krispy Kreme each fell around 4%. Dow Inc. — The chemical company’s stock slid more than 10% after disappointing second-quarter results. Dow posted a loss of 42 cents per share, excluding items, on $10.1 billion in revenue, while analysts penciled in a loss of 17 cents a share and $10.23 billion, respectively, according to LSEG. Alphabet — Shares of the Google parent rose almost 4% on a stronger-than-anticipated earnings report. Alphabet earned $2.31 per share on $96.43 billion in revenue for the second quarter, surpassing respective expectations of $2.18 a share and $94 billion from analysts, according to LSEG. ServiceNow — Shares surged nearly 8% after the software stock hiked its full-year guidance for subscription revenue after beating Wall Street expectations for the second quarter. Chipotle — Shares of the fast-casual burrito chain plunged 12%. The company cut its same-store sales forecast and posted weaker revenue for the second quarter than anticipated by analysts polled by LSEG. Tesla — The electric vehicle maker’s stock fell 6% after missing expectations on both lines in the second quarter. Tesla earned an adjusted 40 cents per share on $22.5 billion in revenue, missing consensus estimates for 43 cents and $22.74 billion, per LSEG. Honeywell — Shares ticked 3% lower despite beating expectations for second-quarter earnings and offering upbeat guidance. Honeywell earned $2.75 per share, excluding items, on $10.35 billion in revenue, exceeding forecasts of $2.66 per share and $10.07 billion in revenue from analysts surveyed by LSEG. American Airlines – Shares of the air carrier fell 6%, despite its quarterly financial results beating on the top and bottom lines, after the company’s third-quarter profit forecast fell short of expectations . For the third quarter, American said it expects an adjusted per-share loss of between 10 cents and 60 cents, while analysts polled by LSEG estimated a 7 cent loss. American Eagle Outfitters – The apparel retailer soared 18% after launching an ad campaign featuring actress Sydney Sweeney, fueling speculation that it could be the next name to join the resurgence of meme stocks. American Eagle is down almost 50% over the past year. The move comes amid a revival of meme stock activity that’s hit Opendoor, GoPro and others. T-Mobile — Shares jumped 4% after the telecommunications company shared better second-quarter earnings than anticipated. T-Mobile posted earnings of $2.84 per share and $21.13 billion in revenue, beating the estimates of $2.67 per share and $21.02 billion from analysts, per LSEG. Las Vegas Sands — The casino operator’s stock rallied 6% after second-quarter earnings results topped predictions. Las Vegas Sands reported adjusted earnings of 79 cents per share on $3.18 billion in revenue versus estimates of 53 cents per share and $2.83 billion in revenue from analysts surveyed by LSEG. IBM — The tech stock fell 6% in premarket trading after the company reported below-consensus revenue and gross margin in the software business. Still, IBM delivered stronger results than expected and raised its forecast for full-year free cash flow. Investors could be taking some profit after a strong year that saw shares rally 28%. Viking Therapeutics — Shares dropped 6% after the biopharmaceutical company recorded a wider-than-expected loss per share than Wall Street anticipated. Viking said it lost 58 cents per share in the second quarter, while analysts polled by FactSet expected a 45 cents a share loss. Molina Healthcare — Shares dove 7% on weaker-than-forecast earnings. Molina earned an adjusted $5.48 per share versus LSEG’s analyst consensus estimate of $5.79 per share. — CNBC’s Yun Li and Tanaya Macheel contributed reporting
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