On this episode of Stock Movers:
- Expedia (EXPE) are up after the online travel agency reported second-quarter results that beat expectations and raised its full-year forecast. Shares see likely resistance near $218 dating back to 2022’s previous record.
- Under Armour (UAA) is lower after forecasting worse-than-expected sales and profit for the current quarter, stalling a turnaround plan that was taking hold. The Baltimore, Maryland-based brand said revenue for its second quarter is expected to fall between 6% and 7%. Analysts on average projected a drop of almost 3%. So far this year, the stock had declined almost 20% as of the close on Thursday.
- Pinterest (PINS) slumped in premarket trading after the search and discovery company reported adjusted second-quarter earnings that missed expectations. It also gave an Ebitda outlook in the range of $282 million to $302 million, compared with the consensus analyst estimate of $292.4 million. Bloomberg Intelligence highlighted ad-pricing weakness as a headwind to growth.
- Sweetgreen (SG) is lower after it slashed its sales guidance after a second straight quarter of disappointing results, highlighting the salad chain’s struggles to sell $15 salads to budget-strained diners. CEO Jonathan Neman said the quarter’s performance reflected macroeconomic challenges and subdued trends in the industry, particularly in several of the company’s biggest urban markets. Sweetgreen is also discontinuing its ripple fries, Neman said, citing the complexity the menu item added to kitchens.
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