Stock futures pointed lower Thursday and the Dow Jones Industrial Average looked set to open to the downside after the blue-chip index’s sixth-straight sessions of gains.
These stocks were poised to make moves Thursday:
U.S.-listed shares of Arm Holdings were falling 7.7% after the chip-design company reported fiscal fourth-quarter earnings of 36 cents a share, up from 2 cents a share a year earlier and better than Wall Street estimates of 30 cents, but issued a fiscal 2025 forecast that underwhelmed investors. The company said it anticipates revenue of $3.8 billion to $4.1 billion in the current fiscal year and adjusted profit of $1.45 to $1.65 a share versus analysts’ forecasts for revenue of almost $4 billion and adjusted profit of $1.54.
Airbnb said it expects second-quarter revenue of $2.68 billion to $2.74 billion, with the midpoint of the forecast below forecasts of $2.74 billion. The company said results in the period would face “a significant sequential headwind” from the timing of Easter, the inclusion of “leap day” in the first quarter, and the impact of foreign exchange rates. Airbnb said it expected year-over-year revenue growth to “accelerate” in the third quarter compared with the second quarter, citing in part the strength of its summer backlog. Shares of the online vacation-rental platform were falling 8%.
AppLovin jumped 15% in premarket trading. The app-monetization company reported first-quarter revenue and adjusted earnings before interest, taxes, depreciation, and amortization that topped Wall Street forecasts. Revenue was $1.06 billion, up 48% from a year earlier and better than estimates of $974 million. The company’s forecast for the second quarter also beat expectations.
Beyond Meat declined 15% after the plant-based meat company said first-quarter revenue dropped 18% to $75.6 million, “primarily driven by a 16.1% decrease in volume of products sold and a 2.3% decrease in net revenue per pound.” The company’s second-quarter revenue guidance also was below Wall Street’s expectations.
SolarEdge Technologies fell 7.8% after the solar-equipment maker posted a wider-than-expected loss in the first quarter and said it expects second-quarter revenue of between $250 million and $280 million, below analysts’ estimates of $307 million.
Klaviyo was up 8.4%. The marketing-automation company raised its fiscal-year revenue outlook to $899 million to $907 million from previous guidance of $889 million to $897 million.
AMC Entertainment reported a first-quarter loss that narrowed from a year earlier. CEO Adam Aron said the movie-theater chain “had expected for some time the Hollywood actor and writer strikes of 2023 would impact the first-quarter box office,” but was ”heartened by the strength of moviegoing in March, which reminded us that better times are ahead.” Shares fell 2.5%.
Duolingo, the language-learning app, said revenue rose 45% in the first quarter to $167.6 million, and raised its forecast for full-year revenue to $726.5 million to $735.5 million from previous revenue guidance of $729.5 million. The company’s second-quarter forecast, however, was a bit shy of estimates and the stock was tumbling 12%.
Earnings reports are expected Thursday from Marat
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