Eli Lilly – Shares of the pharmaceutical company rose 8% after the company reported second-quarter earnings and revenue that beat expectations. Eli Lilly also raised its full-year revenue forecast by $3 billion as sales of its hit diabetes drug Mounjaro and weight-loss injection Zepbound soared. Under Armour – Shares rose 19% after the athletic apparel maker beat quarterly estimates and adjusted its full-year earnings forecast. Warner Bros. Discovery – Shares of Warner Bros. Discovery fell 12% after the media company wrote down a $9.1 billion non-cash impairment on its TV network business. The company also reported a wider-than-expected loss and fell short of revenue expectations. Occidental Petroleum – Shares of the Houston-based oil and gas company rose 4% after the company reported quarterly results that beat analysts’ expectations. Occidental said it benefited from higher oil production in Colorado and a rise in crude prices. Klaviyo – Shares of Klaviyo shot up more than 26% after the marketing platform provider beat Wall Street’s revenue and profit expectations. The company reported earnings of 15 cents per share and revenue of $222 million. Dutch Bros – Shares of Dutch Bros sank more than 23% after the coffee chain said it expected to open 150 to 165 new stores for the year. That was at the low end of the company’s range and overshadowed last quarter’s beaten revenue and profit expectations. Parker-Hannifin – Parker-Hannifin rose 11% after reporting better-than-expected fiscal fourth-quarter results. The company also issued stronger-than-expected full-year earnings per share guidance. Penn Entertainment – The gaming stock rose 5% after second-quarter revenue beat expectations. According to FactSet, Penn reported revenue of $1.66 billion, versus $1.65 billion estimated by analysts. Penn also beat expectations on a key profitability metric. Robinhood – Shares of the retail brokerage rose more than 2% after a better-than-expected second-quarter report. Robinhood reported earnings per share of 21 cents on revenue of $682 million. Analysts surveyed by FactSet had expected earnings per share of 16 cents and revenue of $640.4 million. Zillow – Shares of Zillow climbed more than 18% after the real estate platform reported second-quarter earnings that beat analyst estimates. The company reported adjusted earnings of 39 cents per share and revenue of $572 million. Duolingo – The language learning platform’s shares rose 7% on better-than-expected quarterly results, putting the stock on track for its biggest one-day gain since February. Bumble – The dating app provider slumped 33% on disappointing third-quarter revenue forecasts. Second-quarter revenue also fell short of expectations. Thursday’s price would be the stock’s biggest one-day drop ever. SolarEdge Technologies – Shares fell 7.2% after the solar power products company reported an adjusted second-quarter loss of $1.79 per share, wider than the $1.58 per share loss expected by analysts surveyed by LSEG. However, SolarEdge’s quarterly revenue of $265 million beat the consensus estimate of $262 million. Celsius Holdings – The energy drink’s shares fell 1.3% after Bank of America downgraded the stock to underperform from neutral. Bank of America said a slowdown in the energy drinks category should have an “outsized” impact on Celsius. JFrog – The software supply chain company’s stock plunged 30% on low third-quarter guidance. JFrog said it expected earnings between 9 cents and 11 cents per share, while LSEG’s analyst estimate was 14 cents. Sonos – Shares fell more than 6% after the speaker and sound system maker cut its fiscal 2024 forecast due to issues rolling out its new app. Monster Beverage – Shares fell 11% after Monster Beverage reported disappointing second-quarter results. The company reported earnings of 41 cents per share on revenue of $1.90 billion. That fell short of the 45 cents per share and revenue of $2.10 billion expected by analysts surveyed by LSEG. Hanesbrands – The maker of T-shirts and underwear rose 15% after second-quarter profit excluding one-time items of 15 cents per share beat analysts’ consensus estimate of 9 cents, data from FactSet showed. Adjusted gross profit margin and adjusted operating margin also came in above average Wall Street numbers. – CNBC’s Yun Li, Jesse Pound, Alex Harring, Michelle Fox and Scott Schnipper contributed reporting
