Check out the companies making the biggest moves midday: Planet Fitness — Shares fell nearly 33% after the gym operator lowered its full-year earnings outlook. The company now sees its bottom line growing about 4% year on year. That’s down from a forecast that called for an expansion of 9% to 10%. Vital Farms — The egg producer’s stock dropped 20% on a surprise loss for the first quarter. Vital Farms lost 3 cents per share, excluding certain items. Analysts polled by FactSet expected a profit of 6 cents per share. The company also cut its full-year earnings outlook. Datadog — Shares are up by 28% after the software company beat Q1 expectations. The company reported earnings per share of 60 cents, which exceeded FactSet’s consensus of 51 cents per share. Their Q2 revenue guidance sits between $1.07 to $1.08 billion, which is above FactSet’s $993.9 million. AAON — The Oklahoma-based air conditioning and heating equipment manufacturer’s stock soared 40% after first-quarter earnings, EBITDA and revenue all topped Wall Street analysts’ estimates, according to FactSet, and AAON raised its full-year revenue guidance by as much as 45%. Shake Shack — Shares tumbled 29% after the burger chain’s first-quarter results fell short of expectations and it reported an operating loss of $2.6 million. Shake Shack’s earnings per share broke even, versus earnings of 12 cents a share expected from analysts polled by LSEG. Revenue came in at $366.7 million, versus the $372 million consensus estimate. Whirlpool — Shares of the manufacturer of household appliances lost 12% after it slashed guidance for the full year. Whirlpool now sees adjusted earnings ranging from $3 to $3.50 per share on revenue of roughly $15 billion. Previously, the company guided for $6 per share and $15.3 billion to $15.6 billion. The company also said in a regulatory filing that “War in Iran resulted in recession-level industry decline in the U.S. as consumer confidence collapsed in late February and March.” Shell — U.S.-listed shares of the British energy company shed 2.7%. Shell reported stronger-than-expected first-quarter profit and cut the pace of its quarterly share buyback to $3 billion from $3.5 billion. Oil prices, which had surged during the Iran conflict, have dropped below $100. Carlyle Group — The private-equity firm’s stock shed 3.2% after the company reported after-tax distributable earnings of 89 cents per share for the first quarter, short of the 93 cent FactSet consensus estimate. Carlyle also posted a drop in revenue from a year prior. Arm Holdings — The semiconductor company posted fourth-quarter adjusted earnings of 60 cents and $1.49 billion in revenue. Analysts surveyed by LSEG were looking for earnings of 58 cents and $1.47 billion in revenue. Shares fell 10% after initially surging. Zillow Group — Shares fell 2.4% after the real estate marketplace posted first-quarter residential revenue of $450 million, below StreetAccount’s $454.2 million estimate. However, the company posted an overall beat on both the top and bottom lines for the quarter. Fortinet — The cybersecurity stock climbed 20%. Fortinet lifted its full-year billings guidance, calling for a range of $8.8 billion to $9.1 billion, versus its earlier forecast for $8.4 billion to $8.6 billion. Earnings and revenue guidance for the full year beat the LSEG consensus estimate. IonQ — Shares slid more than 8%. The quantum computing company said that adjusted losses before interest, taxes, depreciation and amortization came in at $96.8 million in the first quarter. That’s wider than the loss of $80.4 million analysts polled by FactSet had sought. Fastly — The cloud platform provider’s stock tanked 39% as its guidance appeared to disappoint Wall Street. Fastly sees second-quarter earnings ranging from 5 cents to 8 cents per share, versus the LSEG consensus call for 4 cents. Revenue is expected to range from $170 million to $176 million, versus the $170 million sought by analysts. Separately, first-quarter results beat estimates on the top and bottom lines. Albemarle — The specialty chemical producer saw shares jump 7%. Adjusted earnings in the first quarter trounced the Street’s forecast, landing at $2.95 per share versus the $1.19 per share analysts sought, per FactSet. Revenue also beat expectations, coming in at $1.43 billion compared to estimates for $1.34 billion. Adjusted EBITDA also surpassed estimates, weighing in at $663.8 million, versus $443.7 million. Akamai Technologies — The cybersecurity and cloud computing company’s shares lost 7%. Akamai is expected to report on Thursday after the close. Shares have been on a hot streak leading up to the earnings release, rising for a sixth straight session on Wednesday and touching a new 52-week high. Papa John’s International — The pizza chain’s first-quarter results fell short of expectations, with adjusted earnings at 32 cents a share on revenue of $478.6 million. Analysts polled by FactSet expected earnings of 37 cents a share on revenue of $485.5 million. The stock shed 4.5%. Warby Parker — The eyeglasses maker’s shares rose nearly 9% after first-quarter revenue of $242 million topped the $239 million expected from analysts, per LSEG. Its earnings of 3 cents per share fell short of the 11 cents consensus estimate, however. Peloton Interactive — Shares jumped 7.9% after Peloton Interactive reported third-quarter revenue of $630.9 million, more than the $618.3 million expected by analysts polled by FactSet. On the other hand, quarterly adjusted EBITDA of $126.2 million missed the expected $128.3 million — CNBC’s Sarah Min, Michelle Fox, Darla Mercado, Scott Schnipper,, Ananya Chetia, Lisa Han and Alex Harring contributed reporting. Correction: This story has been revised to reflect that Datadog reported first-quarter earnings per share of 60 cents. A previous version misstated the earnings per share.
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Saturday, June 13
