Movers & Shakers: Meta leads the gainers after earnings beat, but Chipotle burnt, and more movers

by | Jul 27, 2023 | Stock Market

Here are some of the biggest movers in premarket action on Thursday: Stock gainers: Meta Platforms Inc. stock
rose 8% after the Facebook and Instagram parent handily beat Wall Street expectations for its second quarter and ad revenue jumped.

Shares of Lam Research Corp.
rose more than 3% after the chipmaking equipment supplier topped Wall Street expectations, and its chief executive said AI servers are ‘fundamental’ to driving growth in next several years Shares of Align Technology Inc.
jumped nearly 14% after the maker of clear orthodontic braces and straighteners topped expectations with its latest quarterly financials. Shares of Imax Corp.
were up 5.5% after the high-end movie-theater operator reported second-quarter results that beat estimates. Stock decliners: Shares of Chipotle Mexican Grill Inc.
headed 9% lower after the fast-casual restaurant chain said inflation hit some of its most popular menu items. Mattel Inc.
late on Wednesday reported second-quarter results that beat estimates, but the toy maker held to its full-year outlook as the “Barbie” movie’s blowout debut weekend clashed with continued muted demand for toys. Shares fell 1.4%. Shares of eBay Inc.
dipped as much as 5% after the e-commerce site’s earnings outlook came in lower than expected. Sunnova Energy International Inc. stock
fell more than 8% after the clean-energy company delivered downbeat revenue for its second quarter and saw losses double. Shares of National Vision Holdings Inc.
tanked more than 19% after the optical retailer operating brands such as America’s Best and Eyeglass World said that its contract with Walmart Inc.
won’t be renewed come February.

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