An employee of Tupperware Brands Corporation is working on the production line at the company’s plant in Joue-les-Tours, France, on the day of its 40th anniversary.
Jean-Francois Monier | AFP | Getty Images
Take a look at the companies making headlines before the start of trading today.
Apple — Shares of the tech giant fell nearly 2.4% in premarket trading. The company reported earnings per share of $1.26 for the fiscal third quarter, surpassing analysts’ expectation of $1.19 from Refinitiv. Although Apple’s revenue was higher than anticipated, it declined by about 1% compared to the previous year, marking the third consecutive quarter of sales decline for the company’s hardware products.
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Block — Shares of the payments tech company declined more than 5% in premarket trading, despite reporting second-quarter earnings and revenue that exceeded expectations. Refinitiv’s analysts had predicted earnings of 39 cents per share, but Block reported 42 cents per share. Additionally, the company’s revenue of $5.53 billion was higher than the expected $5.10 billion.
Coinbase — Shares of the crypto exchange dropped 1.5% in early morning trading on Friday, despite posting a narrower-than-expected loss of 42 cents per share. Analysts estimated a loss of 77 cents per share, but Coinbase reported a loss of 42 cents. Moreover, the company’s revenue of $708 million surpassed analysts’ forecast of $633 million.
Amazon — The e-commerce giant experienced a rise of over 9% due to strong second-quarter results and positive revenue guidance for the current period. Amazon reported earnings of 65 cents per share, exceeding analysts’ expectation of 35 cents per share. The company’s revenue also increased by 11% to $134.4 billion, outperforming the projected $131.5 billion.
Booking Holdings — The stock soared more than 12% after Booking Holdings announced that it expects gross bookings to increase in the third quarter. The online travel company also reported second-quarter adjusted earnings of $37.62 per share on revenue of $5.46 billion, surpassing analysts’ estimates of $28.90 per share on revenue of $5.17 billion.
Nikola — Shares of the electric truck maker increased by 1.9% after the company obtained shareholder approval to issue new stock. This approval will enable Nikola to raise funds for the launch of a fuel-cell-powered electric semitruck and the expansion of a hydrogen refueling network in the U.S. and Canada.
Fortinet — Fortinet’s stock plummeted by 18.8% after releasing a mixed second-quarter report and outlook. The cybersecurity company reported 38 cents in adjusted earnings per share on $1.29 billion in revenue, slightly missing analysts’ expectations of 34 cents per share on $1.3 billion. Fortinet provided mixed guidance for the current quarter, with earnings in line with expectations but softer-than-expected revenue.
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