[ad_1]
(COHR) was falling 21% after the optoelectronics company’s forecasts for its fiscal first quarter and year were weaker than expected. Coherent expects first-quarter adjusted earnings of 5 cents to 20 cents a share on revenue of $1 billion to $1.1 billion, well off analysts’ estimates for earnings of 47 cents a share on revenue of $1.17 billion. The company said the forecast “assumes no meaningful improvement in the macroeconomic environment,” including in China.
(CAVA), the Mediterranean restaurant chain, reported a second-quarter profit of 21 cents a share while analysts were expecting a loss of 2 cents. Revenue of $171.1 million also topped forecasts. It was Cava’s first report since it went public in June. The stock jumped 13%.
(TSEM) declined 11% after
(INTC) terminated its proposed $5.4 billion acquisition of the Israeli chip maker after failing to receive regulatory approval from China. Intel rose 0.3%.
Advertisement – Scroll to Continue
(DLO) was rising 26% in premarket trading after the online payments company reported second-quarter results that topped estimates and maintained revenue guidance of $620 million to $640 million for the year.
also named Pedro Arnt as co-chief executive. Arnt previously worked as chief financial officer at
(MELI), the Latin American e-commerce giant.
Shares of VinFast (VFS), the Vietnamese electric-vehicle maker, were falling 12% in premarket trading. The stock jumped more than 250% on Tuesday after the company began trading following the closing of its merger with the SPAC Black Spade Acquisition.
(MRCY) was down 13% after the military chip maker’s adjusted fourth-quarter earnings of 11 cents a share widely missed analysts’ expectations of 52 cents. The company’s outlook for the current fiscal year also was lower than forecasts.
(HRB) rose 5.1% after the tax preparer’s fiscal fourth-quarter earnings and fiscal 2024 outlook topped expectations.
Advertisement – Scroll to Continue
also raised its quarterly dividend by 10%.
(TSLA) fell 1.5% after the electric-vehicle maker cut prices in China for the second time in less than a week.
U.S.-listed shares of
(JD) were up 0.4% after the Chinese e-commerce company topped earnings expectations.
Earnings reports are expected before the opening bell Wednesday from
(TGT) and
(TJX).
(CSCO) is scheduled to report earnings after markets close, as are
(SNPS) and
Advertisement – Scroll to Continue
(WOLF).
Write to Joe Woelfel at joseph.woelfel@barrons.com
[ad_2]
Source link