Here are the stocks making headlines on Wall Street on Thursday.
Meta Platforms — Shares of the Facebook parent popped 4.4% to trade near their highest level since early 2022 after the social media company reported strong second-quarter results and issued optimistic guidance. Meta Platforms reported earnings of $2.98 per share on $32 billion in revenue. That surpassed the $2.91 per share and revenue of $31.12 billion expected by Refinitiv. A rebound in advertising also lifted earnings.
Chipotle Mexican Grill — Shares of the Mexican food chain dropped 9.8% after the company’s quarterly revenue fell short of expectations. Chipotle posted revenue of $2.51 billion, lower than the $2.53 billion expected, according to Refinitiv. Its earnings per share beat expectations, however.
Royal Caribbean, Norwegian Cruise Line — Shares of Royal Caribbean surged 8.7% after the cruise company beat expectations for the second quarter. Royal Caribbean reported $1.82 in adjusted earnings per share on $3.52 billion of revenue. Analysts surveyed by Refinitiv had penciled in $1.55 per share on $3.41 billion of revenue. The report appeared to boost other cruise stocks, with Norwegian shares jumping 2.7%.
Lam Research — Shares of the semiconductor soared 9.3% after Lam Research delivered a healthy beat on the top and bottom lines for its fiscal fourth quarter. The company reported $5.98 in adjusted earnings per share on $3.21 billion in revenue. Analysts surveyed by Refinitiv were expecting $5.07 per share on $3.21 billion of revenue. Lam’s guidance for the current quarter was also stronger than expected.
KLA Corp. — Shares of the semiconductor company jumped more than 5% ahead of KLA’s fiscal fourth-quarter earnings report. The company is scheduled to announce results after the closing bell Thursday.
L3Harris Technologies — Shares of the defense contractor sank 6.3% despite a stronger-than-expected report for the second quarter. L3Harris reported $2.97 in adjusted earnings per share on $4.69 billion of revenue. Analysts surveyed by Refinitiv estimated $2.94 per share on $4.37 billion of revenue. The company’s earnings per share and operating cash flow were down year over year. L3Harris also said regulators have decided not to block its acquisition of Aerojet.
Willis Towers Watson — Shares of the insurance company fell 8.9% after it reported softer-than-expected earnings for the second quarter. The company reported $2.05 in adjusted earnings per share, below the StreetAccount consensus of $2.33 per share.
Northrop Grumman — The defense stock slipped 2.6% despite a beat on the top and bottom lines for the second quarter. Northrop Grumman reported $5.34 in earnings per share on $9.58 billion of revenue. Analysts surveyed by Refinitiv were expecting $5.33 in earnings per share on $9.35 billion of revenue. Northrop Grumman’s net income and operating margin did decline year over year.
IMAX — The cinema stock rallied 8.5% on the back of its second-quarter earnings report. IMAX reported 26 cents in earnings per share, excluding one-time items, on $98 million in revenue. Meanwhile, analysts polled by Refinitiv anticipated 16 cents per share and $86.6 million in revenue. Management noted last weekend was one of the best global box-office performances ever for the company and that an accelerated rate of signups and installations can be a positive indicator of long-term growth.
Sunnova Energy — The solar stock slid 11.7% after Sunnova reported a wider-than-expected loss for the second quarter. The company reported a loss of 74 cents per share on $166.4 million of revenue. Analysts expected a loss of 42 cents per share and $195.5 million of revenue, according to StreetAccount.
Honeywell International — The industrial stock fell 5.7% after Honeywell International reported a mixed second quarter. The company reported $2.23 in adjusted earnings per share on $9.15 billion of revenue. Analysts surveyed by Refinitiv were expecting $2.21 per share on $9.17 billion of revenue. The company’s third-quarter revenue guidance was toward the low end of analyst estimates, according to StreetAccount, and Honeywell saw sales decline year over year for its safety and productivity solutions division.
Comcast — Shares of the NBCUniversal parent company jumped 5.7% after a stronger-than-expected report for the second quarter. Comcast reported $1.13 in adjusted earnings per share on $20.51 billion of revenue. Analysts surveyed by Refinitiv were expecting 97 cents per share on $30.13 billion of revenue.
McDonald’s — The restaurant stock rose 1.2% after McDonald’s topped estimates for the second quarter. The eatery chain reported $3.17 in adjusted earnings per share on $6.50 billion of revenue. Analysts surveyed by Refinitiv were expecting $2.79 in earnings per share on $6.27 billion of revenue.
Southwest Airlines — Shares tumbled 8.9% after the company posted a mixed quarterly earnings report. The airline reported $1.09 in adjusted earnings per share on $7.04 billion in revenue. Analysts had expected $1.10 in earnings per share and $6.98 billion in revenue, according to Refinitiv. Southwest said it expects unit revenue to drop as much as 7% during the current quarter.
Align Technology — Shares of the dental products company surged 13.4% after a surprisingly strong second-quarter report. Align reported $2.22 in adjusted earnings per share on $1 billion of revenue. Analysts surveyed by Refinitiv were expecting $2.03 per share on $991 million of revenue. Align also delivered upbeat guidance for its full-year numbers.
eBay — Shares of the online retailer sank 10.5% after eBay’s third-quarter earnings guidance came in below expectations. The company said it expected adjusted earnings of between 96 cents and $1.01 per share. Analysts surveyed by StreetAccount were looking for $1.02 per share. Ebay’s second-quarter results did top expectations, however.
Edwards Lifesciences — Shares of the medical technology company slumped 9.8% after Edwards’ guidance for the third quarter disappointed Wall Street analysts. The company said it expected adjusted earnings per share of between 55 cents and 61 cents. Analysts surveyed by StreetAccount expected 63 cents per share. The company’s second-quarter results did modestly beat estimates for adjusted earnings and revenue.
— CNBC’s Alex Harring, Hakyung Kim, Samantha Subin and Yun Li contributed reporting.
Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.