Earnings Movers: Qualcomm, Shell, Equinor, SolarEdge and More
These are stocks that make moves on quarterly earnings reports before the U.S. market opens on Friday:
Winners
SolarEdge Gained Nearly 10% in Premarket Trading After Strong Q1 Earnings Beat
$SolarEdge(SEDG)$ earned $138.4 million, or $2.35 a share, in the quarter, compared with $33.1 million, or 60 cents a share, in the year-ago quarter. Adjusted for one-time items, the company earned $2.90 a share. Revenue rose 6% to $944 million.
Stocks gained nearly 10% in premarket trading.
Equinor Beats Q1 Forecast on Strong Energy Trading
$Equinor ASA(EQNR)$ adjusted profit before interest and tax for January-March fell to $12 billion from $18 billion a year earlier, and stood at 2.13 million barrels of oil equivalent per day in Q1.
Stocks rose over 5% in premarket trading.
Shell Makes $9.65 Bln Profit in the First Quarter, Beating Forecasts
$SHELL PLC SPON ADS EACH REPR 2 ORD SHS(SHEL)$’s Q1 earnings were $9.7 billion. That's slightly lower than the fourth quarter, but substantially higher than the FactSet consensus of $8 billion. It also said it will complete a $4 billion buyback program over the coming three months.
Stocks rose over 2% in premarket trading.
Losers
Qualcomm Outlook Grim As Smartphone Sales Stay Weak
$Qualcomm(QCOM)$’s adjusted per-share earnings declined to $2.15 during the three months ended March 26 from $3.21 a year earlier, revenue fell 17% to $9.28 billion. The company expects fiscal third-quarter adjusted EPS of $1.70 to $1.90 on revenue between $8.1 billion and $8.9 billion.
Stocks slid over 6% in premarket trading.
$(SEDG)$ $(EQNR)$ $(SHEL)$ $(QCOM)$Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
