Here are the stocks making headlines on Wall Street on Thursday.
Meta Platforms — Shares of the Facebook parent popped 6% 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 8.6% 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 9% 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 nearly 6%.
Lam Research — Shares of the semiconductor soared 11% 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 7% 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 8% despite a stronger-than-expected report for the second quarter. L3Harris reported $2.97 in adjusted earnings per share on $4.69…
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