MARKET MOVERS/ STOCKS IN FOCUS 5 MAY

market movers

After hours movers

Infocus stocks

Top analysts picks

stocks in news

MARKET MOVERS

After hours movers

Apple (AAPL) +2% is now 2% higher; their Q2 EPS of $1.52 was $0.09 higher than the $1.43 average projection. Contrary to the average expectation of $92.9 billion, revenue for the quarter came in at $94.8 billion. an additional programme to repurchase up to $90 billion of the Company’s ordinary shares, and increased its quarterly dividend by 4.3%.

Lyft (LYFT) -15% posted Q1 EPS of ($0.50), $0.42 below the average forecast of ($0.08), and is now 15% down. Contrary to the average expectation of $981.71 million, the quarter’s revenue came in at $1 billion. In contrast to the average estimate of $1.08 million, Lyft expects Q2 2023 revenue of $1–1.02 million.

Clearfield, Inc. (CLFD) -24%:-  posted Q2 EPS of $0.67, $0.08 more than the average expectation of $0.59, and closed at a 24% lower price. Contrary to the average expectation of $69.36 million, the actual revenue for the quarter was $71.8 million. Contrary to the average estimate of $366 million, Clearfield, Inc. anticipates FY2023 sales of $260–275 million.

DoorDash (DASH) +5% :-  posted Q1 EPS of ($0.41), $0.17 more than the average forecast of ($0.58), bringing the stock’s price up 5%. Contrary to the average expectation of $1.93 billion, revenue for the quarter came in at $2.04 billion.

Trupanion (TRUP) -27% posted Q1 EPS of ($0.60), $0.33 below the average expectation of ($0.27), a 27% lower figure. In contrast to the average forecast of $251.68 million, actual revenue for the quarter was $256.3 million.

Carvana Co. (CVNA) +24% :- In contrast to the consensus forecast of $2.66 billion, Carvana Co. (CVNA) announced Q1 revenue for the quarter of $2.61 billion. In Q2, the business anticipates generating positive adjusted EBITDA.

DraftKings (DKNG) +9% posted Q1 EPS of ($0.51), $0.34 more than the analyst forecast of ($0.85), resulting in a 9% increase in price. Contrary to the average expectation of $694.81 million, the actual revenue for the quarter was $770 million.

Apellis Pharmaceuticals, Inc. (APLS) +8% posted Q1 EPS of $1.56, $0.10 behind the average estimate of $1.66; the company’s share price increased by 8%. In contrast to the average expectation of $26.1 million, actual revenue for the quarter was $44.84 million.

Sweetgreen, Inc. (SG)+7%:-  after reporting Q1 EPS of ($0.30), $0.08 more than the average forecast of ($0.38). Compared to the average forecast of $126.11 million, actual quarterly revenue was $125.1 million. Compared to the average estimate of $585.43 million, Sweetgreen, Inc. expects FY2023 sales of $575 to $595 million.

Stocks in focus today’s session

• PacWest Bancorp’s (NASDAQ:PACW) After the regional lender acknowledged “several potential partners and investors” had contacted it in an effort to secure a financial lifeline, PacWest Bancorp’s (NASDAQ:PACW) stock dropped 40%. The lender added that these discussions are still in progress.
• First Horizon (NYSE:FHN):- Following the lender’s announcement that its early 2022 announced merger with TD Bank (TSX:TD) would no longer proceed, First Horizon’s (NYSE:FHN) stock dropped 40%. TD was required to make a $200 million payment to First Horizon as a result.
• Shopify (NYSE:SHOP) :- The shares of Canadian e-commerce giant Shopify (NYSE:SHOP) increased 16.7% after it announced plans to reduce costs by 20% by laying off 20% of its personnel and beating sales forecasts for the first quarter.
• The share price of Moderna (NASDAQ:MRNA) increased 2.1% following the drugmaker’s unexpected quarterly earnings report despite declining demand for its COVID vaccines.
• Blackstone (NYSE:BX)Reuters reported that the fund management is considering all alternatives for Dutch merchant bank NIBC, including a potential sale, which caused Blackstone’s (NYSE:BX) stock to decline by 0.4%.
• ConocoPhillips (NYSE:COP)The price of oil increased after ConocoPhillips (NYSE:COP) surpassed forecasts for first-quarter earnings as steady gasoline demand and limited crude supply kept crude prices high.
• Alibaba (BABA: NYSE) ADRs increased 1.6% after Bloomberg reported that the international online shopping division of the Chinese e-commerce behemoth is considering a U.S. initial public offering.
• ADRs for Shell PLC (NYSE:SHEL) increased 1.6% as the oil major reported a first quarter net profit of just under $10 billion, offsetting down energy prices with robust gains from fuel trading and increased sales of liquefied natural gas.
• Paramount Global (NASDAQ:PARAA) The shares of media giant Paramount Global (NASDAQ:PARAA) dropped 11.6% after it reduced its dividend and reported dismal quarterly profitability due to softening advertising.
• Peloton (NASDAQ:PTON) Even though the workout equipment business Peloton (NASDAQ:PTON) predicted fourth quarter sales above projections, the stock dropped 3.6%when it reported a wider-than-expected loss.

Top analysts picks

After reporting impressive Q1 results, Uber raised to Positive.

Following the release of the company’s Q1 results, Susquehanna upgraded Uber (NYSE:UBER) to Positive from Neutral and increased its price target to $48.00 from $40.00, with EPS and revenues beating consensus estimates.

Upgrade to Buy for AMD

Advanced Micro Devices (NASDAQ:AMD) was raised by Craig-Hallum from Hold to Buy because it thinks the firm has a chance to become a more significant winner in the artificial intelligence market.

Wix.com (NASDAQ:WIX) was upgraded by Raymond James from Market Perform to Outperform with a $96.00 price objective.

Yesterday, shares fell more than 10% as a result of investors’ response to ChatGPT’s warning.

On May 17, the business is scheduled to release its Q1/23 results.

Cogent Communications (NASDAQ:CCOI) was upgraded by BofA Securities from Underperform to Buy, and the company’s price objective was increased from $45.00 to $85.00. Yesterday, shares increased 8%.

Stocks In News

• Peloton (NASDAQ:PTON):- In contrast to FactSet forecasts of 3.095 million and the 3.11 million the business disclosed in the third quarter, Peloton (NASDAQ:PTON) stated it anticipates 3.08 million to 3.09 million members in 2023 linked fitness subscriptions.After initially climbing on a stronger-than-expected sales projection for the fourth quarter, shares of the corporation dropped 15% in morning trade.
• Intercontinental Exchange Inc :- on Thursday reported first-quarter profit slightly above Wall Street views, as market volatility boosted the New York Stock Exchange parent’s exchange unit, helping offset a rates-driven slump in its mortgage technology business 
• On Thursday, Shell (LON:RDSa) reported a first-quarter net profit of $9.65 billion, with robust trading profits and increasing sales of liquefied natural gas (LNG) offsetting lower energy prices. Shell also continued its significant share repurchase plan.
• Cruise line Royal Caribbean RCL Revenue for the cruise line Royal Caribbean RCL was $2.89 billion, above the average forecast of $2.82 billion. The company’s adjusted loss per share of $0.23 was $0.46, which was better than the $0.69 loss per share that analysts had predicted for the quarter.
• Teleflex (NYSE: TFX) The first quarter EPS for Teleflex (NYSE: TFX) was $3.09, $0.12 more than the average expectation of $2.97. Compared to the consensus estimate of $686.89M, actual revenue for the quarter was $710.93M.
• Pinnacle West :-In contrast to the expert estimate of $4.06, Pinnacle West anticipates FY 2023 EPS of $3.95 to $4.15.The closing share price for Pinnacle West was $78.42. It has increased by 3.35% over the past three months and by 7.72% over the past year.In contrast to the expert estimate of $4.06, Pinnacle West anticipates FY 2023 EPS of $3.95 to $4.15.The closing share price for Pinnacle West was $78.42. It has increased by 3.35% over the past three months and by 7.72% over the past year. 
• The price of Datadog (NASDAQ:DDOG) is rising on Thursday following the data analytics company’s announcement that its sales increased 33% year over year to $481.7 million, handily above the Street’s expectation of $468.9 million.
• The first quarter EPS for Huntington Ingalls Industries (NYSE: HII) was $3.23, $0.33 more than the average expectation of $2.90. Contrary to the consensus forecast of $2.6B, the quarter’s revenue came in at $2.67B.
• Constellation Energy’s (NASDAQ: CEG) first quarter earnings per share came in at $0.29, $0.82 below than the $1.11 consensus forecast. Compared to the average expectation of $5.74B for the quarter, actual revenue was $7.57B.
• Shares of Shopify (NYSE:SHOP) are up roughly 17% in pre-market trading on Thursday following the release of the company’s business update and Q1 results.