On this episode of Stock Movers:
- Caterpillar Inc. (CAT) shares are up in after hours trading. This comes as the company expects slightly lower sales this year if Trump administration tariffs remain in place and the economy dips into a recession in the second half. The guidance, in line with previous expectations, came as the heavy-equipment maker posted first-quarter earnings that fell short of analysts’ estimates. The company painted two scenarios in its results’ presentation, forecasting operating profit to be within its annual target range if factoring in tariffs and a recession.
- Starbucks (SBUX) shares fell after the company said same-store sales declined 1% in the quarter ended March 30, missing Wall Street estimates, and earnings per share also missed expectations. CEO Brian Niccol said "behind the scenes, we really are showing a lot of signs of progress” -- Niccol took the helm in September and kicked off an overhaul of its cafes to make them more welcoming
- Snap (SNAP) shares tumbled after the company narrowly beat analysts’ estimates for first-quarter revenue but declined to issue a sales forecast for the current period, saying it’s navigating macroeconomic “headwinds” for its advertising business. While sales continue to grow in the second quarter, Snap said economic volatility “may impact advertising demand more broadly,” contributing to its decision to withhold sales projections.
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