After-Market :DoorDash and Roku increase after earnings; Confluent sinks. Oct-01

After-Market:

After-Market

After-Market active stocks

Gainers

• Roku (NASDAQ:ROKU) is 16% HIGHER:– With a reported Q3 EPS of $2.33, $0.37 less than the analyst expectation of $1.96, Roku (NASDAQ:ROKU) is 16% HIGHER. Contrary to the consensus expectation of $855.11 million, revenue for the quarter came in at $912 million. Against a consensus estimate of $956.8, Roku predicts Q4 2023 revenue of $955 million.
• JFrog Ltd. (FROG) closed 10% higher; Q3 EPS of $0.15 was posted, $0.07 more than the $0.08 consensus forecast. Contrary to the consensus forecast of $87.53 million, revenue for the quarter came in at $88.64 million.
• Camping World (CWH) is now 9 percent higher; its Q3 EPS of $0.39 was $0.22 more than the expert forecast of $0.17. Contrary to the average forecast of $1.71 billion, revenue for the quarter came in at $1.7 billion.
  • DoorDash (NASDAQ:DASH) is now 7% higher DoorDash (NASDAQ:DASH) posted Q3 EPS of $0.19, $0.21 higher than the analyst estimate of $0.40. The company is now 7% higher. Contrary to the average expectation of $2.09 billion, revenue for the quarter came in at $2.2 billion.
• Electronic Arts (NASDAQ:EA) 6% HIGHER; Electronic Arts (NASDAQ:EA) reported Q2 EPS of $1.46, $0.21 higher than the analyst expectation of $1.25. The company is now 6% higher. Contrary to the average expectation of $1.77 billion, revenue for the quarter came in at $1.91 billion. Against a consensus estimate of $2.79, Electronic Arts projects Q3 2024 EPS of $2.70–$3.00. Contrary to the consensus estimate of $6.83, Electronic Arts projects FY2024 EPS of $6.60–$7.20.
  • Qualcomm (NASDAQ:QCOM) 3% HIGHER; Qualcomm (NASDAQ:QCOM) posted Q4 EPS of $2.02, $0.11 higher than the market expectation of $1.91. The company saw a 3% increase. Contrary to the average expectation of $8.51 billion, revenue for the quarter came in at $8.67 billion.Against a consensus estimate of $2.25, Qualcomm projects Q1 2024 EPS of $2.25–$2.45. Against a consensus estimate of $9.26 billion, Qualcomm projects Q1 2024 sales of $9.1–9.9 billion.

Losers

• Confluent, Inc. (CFLT) is down 33%; its Q3 EPS of $0.02 was $0.02 higher than the $0.00 analyst estimate. Contrary to the consensus forecast of $194.79 million, revenue for the quarter came in at $200.18 million. Instead of the $767 million to $772 million estimate that Confluent had previously made, the company now projects total revenue for the entire year to be between $768 million and $769 million. The value of The Street was $770.5 million.

MARKET MOVERS 

Midday-Market movers

GAINERS

• Kraft Heinz (NASDAQ:KHC) stock jumped 2.8% after the food company topped third-quarter earnings projections and upped its annual prediction, owing to higher prices for its packaged meals and sauces.
• Wayfair (NYSE:W) stock jumped 4.5% after the online furniture retailer reported a lowering of losses in the third quarter of its fiscal year, but sales were somewhat lower than expected.

LOSERS

• Paycom Soft (NYSE:PAYC) shares tumbled about 37% after the human resources software manufacturer reported fourth-quarter revenue of $420 million to $425 million, which was lower than expected.
• The stock of Estee Lauder (NYSE:EL) plummeted 16.1% after the cosmetics business cut its full-year forecast due to Asian headwinds.
• Match Group (NASDAQ:MTCH) stock plunged 15.7% after the Tinder-owner estimated fourth-quarter revenue that fell short of expectations, citing high inflation and turmoil in some areas as factors weighing on growth at several of its largest dating sites.
• Generac Holdings Inc (NYSE:GNRC) shares increased 15% after the generator manufacturer exceeded forecasts for the most recent quarter, citing stronger operating results.
• Norwegian Cruise Line (NYSE:NCLH) stock declined 2.1% after the cruise line lowered its year profit prediction due to rising fuel costs offsetting gains from higher ticket pricing and sustained cruise demand.
• CVS Health (NYSE:CVS) stock dropped 1.7% after the pharmacy giant disclosed higher-than-expected medical expenditures at its insurance unit, despite beating quarterly profit projections.
• Advanced Micro Devices (NASDAQ:AMD) slumped 1.6%: The shares of Advanced Micro Devices (NASDAQ:AMD) slumped 1.6% after the chipmaker disclosed a weaker-than-expected current quarter that overshadowed third-quarter earnings that exceeded Wall Street expectations.

Earnings Calendar

Wednesday, NOV 01

Airbnb (ABNB), BP (BP), CVS Health (CVS), Dupont (DD), Estee Lauder (EL), Humana (HUM), Modelez (MDLZ), Norwegian Cruise (NCLH), Qualcomm (QCOM), Yum Brands (YUM).

Thursday, NOV 02

Apple (AAPL), Booking Holdings (BKNG), Carvana (CVNA), Coinbase (COIN), ConocoPhillips (COP), Duke Energy (DUK), Moderna (MRNA), Molson Coors (TAP) Palantir (PLTR) Starbucks (SBUX).

Friday, NOV 03

Bloomin Brand (BLMN), CBOE (CBOE), ominion (D), Fluor (FLR), Monster Beverage (MNST), Restaurant Brands (QSR).

Citigroup (NYSE:C) declined 0.8% after agreeing to sell its retail wealth management portfolio in mainland China to HSBC (NYSE:HSBC), which lost 2.3%.

• Bristol-Myers Squibb (NYSE:BMY) stock dipped 0.8% after the pharmaceutical company announced a $5.8 billion acquisition of cancer medicine Mirati Therapeutics (NASDAQ:MRTX), down 4.6%, to diversify its oncology business.
• United Airlines (NASDAQ:UAL) stock fell 5%, American Airlines (NASDAQ:AAL) stock fell 4.7%, and Delta Air Lines (NYSE:DAL) stock fell 4.5%, as several airlines canceled or reduced flights to Israel in response to the escalation of violence between the country’s forces and the Palestinian group Hamas.
• The stock of Spotify (NYSE:SPOT) slumped 2.5% after Redburn-Atlantic cut its rating on the audio streaming service to ‘neutral’ from ‘buy,’ expecting that the company’s new audiobook offer will be gross margin dilutive.

• Workhorse Group Inc. (Nasdaq: WKHS) 32% HIGHER; Workhorse Group Inc. (Nasdaq: WKHS) announced that it has achieved IRS clearance as a qualified manufacturer for the Commercial Clean Vehicle Credit, as specified in Internal Revenue Code Section 30D(d)(3). With this approval, Workhorse clients can receive up to a $40,000 credit for all Workhorse vehicle deliveries in 2023 and beyond.
• Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) 29% HIGHER; Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) reported that it has reached an agreement with the Food and Drug Administration (FDA) on the global Phase 2 pivotal study of RP-A501 for Danon Disease. Danon Disease is a deadly hereditary cardiomyopathy that kills the majority of male patients at the age of 20 and the majority of female patients at the age of 40, and for which there are no authorized curative or disease-modifying medications. In the United States and Europe, the condition affects an estimated 15,000 to 30,000 people.

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