Walt Disney, Hims & Hers, Palantir and more
Check out the companies making headlines before the bell: Walt Disney — The media giant slid more than 4% even after Walt Disney Company posted fiscal second-quarter earnings that beat expectations, bolstered by after narrowing streaming losses. Hims & Hers Health — The stock surged 14% after the telehealth consultation platform posted second-quarter revenue guidance that topped estimates. Hims & Hers Health anticipates revenue in the range between $292 million and $297 million, better than the LSEG consensus consensus estimate of $288 million. First-quarter results also exceeded expectations. Gap — Shares gained 3.2% after Citi upgraded the apparel retailer to buy from neutral and raised its price target, saying Gap could surpass first-quarter earnings expectations. Target — The retailer popped 1.6% following two optimistic calls on Wall Street. Citi upgraded the stock to buy from neutral, calling it one of the winners within the sector. UBS, which also has a buy rating, said the upcoming first-quarter earnings report should be a positive catalyst for shares and validate the bull case. Palantir Technologies — Shares tumbled 11% after the defense-technology company issued weaker-than-expected guidance . Palantir expects full-year revenue between $2.68 billion and $2.69 billion, falling short of the $2.71 billion expected from analysts polled by LSEG. It is forecasting $649 million to $653 million in revenue for the current quarter, versus the LSEG consensus estimate of $653 million. Lucid Group — The electric vehicle maker dropped 8% after releasing its latest results. Lucid posted a loss of 30 cents per share, based on generally accepted accounting principles, and reaffirmed its 2024 production guidance of about 9,000 vehicles. Revenue came in at $173 million, beating an estimate of $157 million. Rocket Lab USA — Shares dropped 3% after the company’s first-quarter revenue missed expectations. In the first quarter, the aerospace manufacturer posted revenue of $92.8 million, below the StreetAccount consensus estimate of $95 million. The loss of 9 cents per share came in line with estimates. Simon Property Group — Shares rose 0.7% after Simon Property Group posted first-quarter revenue that beat expectations. The mall operator posted $1.30 billion in revenue, more than the $1.29 billion expected by analysts polled by LSEG. Microchip Technology — Shares fell 2% after the company issued weaker-than-expected guidance for the current quarter. Microship said it sees earnings per share of between 48 and 56 cents on revenues of between $1.22 billion and $1.26 billion. Analysts were expecting 59 cents per share in earnings on revenues of $1.34 billion, according to LSEG. Top and bottom line results for the fiscal fourth-quarter were in line with analysts’ expectations. — CNBC’s Michelle Fox, Alex Harring and Tanaya Macheel contributed reporting
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