Peloton ergometer is visible after the bell rang at the opening of the company’s IPO on the Nasdaq Market website in New York, New York, USA, September 26, 2019.
Shannon Stapleton Reuters
Check out the companies leading the Friday lunch headlines.
Peloton – Shares of Peloton fell more than 6% after The Wall Street Journal reported that the home fitness company is looking for potential investors to take a minority stake in the field from 15% to 20%. The company is struggling with demand after a pandemic in addition to brand problems, supply chain challenges and a change of CEO. She will report quarterly results next week.
Monster Beverage – Shares rose 4% after Monster Beverage earnings for the first quarter exceeded Wall Street estimates. Monster reported revenue of $ 1.52 billion against an expected $ 1.43 billion, according to StreetAccount. Earnings per share for the first quarter were slightly lower than expected.
Cigna – Shares jumped more than 4% after the insurance company’s quarterly earnings exceeded expectations. Cigna reported earnings of $ 6.01 per share, compared to $ 5.18 forecast by analysts polled by Refinitiv. The insurance company reported revenue of $ 44.1 billion, compared to consensus estimates of $ 43.4 billion. Cigna reported growth in its pharmacy benefit management business.
NRG Energy – Shares jumped more than 5% after the company released its latest quarterly data. NRG Energy reported a quarterly earnings of $ 7.17 per share on revenue of $ 7.9 billion. However, it was not clear whether these numbers were comparable to FactSet estimates.
Under Armor – Shares of the sneaker and clothing company fell 21.2% after Under Armor reported an unexpected loss and shared revenue, which fell below analysts’ forecasts as it tries to overcome the problems of the global supply chain. Under Armor also published a disappointing forecast for fiscal year 2023.
Illumina – Shares fell 13%, although the biotech company reported better-than-expected results for the previous quarter. Illumina reported quarterly earnings of $ 1.07 per share on revenue of $ 1.223 billion. Analysts polled by StreetAccount expected a gain of 90 cents per share on revenue of $ 1.219 billion.
News Corporation – Shares of the media company fell 12% after the publication of quarterly results, which were mostly in line with expectations. News Corporation reported quarterly earnings of 16 cents a share on revenue of $ 2.5 billion. Analysts had expected earnings of 15 cents a share on revenue of $ 2.5 billion, according to consensus estimates by StreetAccount.
DraftKings – Shares fell more than 5%, returning earlier in the day. DraftKings reported a loss of $ 1.10 per share on revenue of $ 417 million. Analysts polled by Refinitiv expected a loss of $ 1.15 per share on revenue of $ 412 million. DraftKings also raised its revenue guidelines for the full year in its quarterly report.
– CNBC’s Tanya Machel, Hannah Miao and Samantha Subin contributed to the report.
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