A Southwest Airlines aircraft at a gate at AustinBergstrom International Airport (AUS) in Austin, Texas, US, on Thursday, Feb. 16, 2023.
Jordan Vonderhaar | Bloomberg | Getty Images
Here are some of the top companies making headlines in early morning trading:
Southwest Airlines — The airline’s stock slid 6% premarket after releasing a mixed financial update. Although business revenues are recovering, they have not yet reached pre-pandemic levels. Southwest cited higher costs, including an increase in its jet fuel forecast for the full year.
Chipotle Mexican Grill — Shares of the popular burrito chain dropped over 8% due to sales falling short of Wall Street expectations. Chipotle’s revenue for the quarter was slightly below analysts’ projections.
Edwards Lifesciences — The company’s shares declined 6% after it reported better-than-expected earnings and revenue for the second quarter but provided weaker-than-expected guidance. Analysts were disappointed with the company’s future earnings forecast, which fell below their estimates.
Ebay — Shares of the e-commerce giant dropped nearly 6% after it issued weak guidance for the current quarter. The company’s projected earnings per share for the third quarter were lower than analysts’ estimates.
Align Technology — The orthodontics company experienced a 14% surge in its stock price after reporting better-than-expected adjusted earnings for the second quarter, beating analysts’ estimates. The company also provided positive revenue guidance for the year.
Meta Platforms — The parent company of Facebook, Meta, witnessed a nearly 9% increase in its stock price after reporting earnings and revenue for the second quarter that exceeded analysts’ expectations. The company also provided a positive forecast for the current period due to a rebound in digital advertising.
Lam Research — Shares of the semiconductor equipment maker rose 3% after the company reported strong second-quarter results. Lam exceeded estimates for adjusted earnings and revenue, indicating positive financial performance.
McDonald’s
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