Disney, Capri, Alibaba, Applovin, Plug Power, Wynn, and More Market Movers

Text size

Stock futures rose Thursday ahead of U.S. consumer inflation data that could help investors better gauge the Federal Reserve’s next move on interest rates. 

These stocks were poised to make moves Thursday: 

Walt Disney

(DIS) reported fiscal third-quarter adjusted earnings that topped Wall Street expectations while revenue missed slightly. The stock was getting a lift in premarket trading, up 1.6%, after the entertainment giant said it would be and was exploring ways to crack down on password sharing. Meanwhile,

Disney

+ subscribers ended the quarter at 105.7 million, up 1% from a year earlier, and modestly above the 104.9 million reported in the second quarter.

Capri Holdings

(CPRI) was rising 57% to $54.47 as the company, which owns fashion brands Versace, Michael Kors, and Jimmy Choo, will be acquired for $57 a share in cash by

Tapestry

(TPR). The deal values

Capri

at $8.5 billion. Capri’s market capitalization at Wednesday’s close was $4.06 billion.

Tapestry

declined 5.4%.

American depositary receipts of

Alibaba

(BABA) rose 2.9% after the Chinese e-commerce and cloud computing giant reported fiscal first-quarter earnings and sales that beat analysts’ estimates.

Applovin

(APP) stock surged 26% as the software company swung to a profit in the second quarter and revenue beat forecasts.

Applovin

said it anticipates third-quarter revenue of $780 million to $800 million, compared with Wall Street consensus of $741 million. 

Plug Power

(PLUG) declined 11% after the hydrogen fuel-cell technology company’s second-quarter loss of 40 cents a share was wider than analysts’ expectations. Revenue in the period rose to $260.2 million from $151.3 million a year earlier and was higher than predictions of $237.7 million.

Shares of casino operator

Wynn Resorts

(WYNN) were rising 1.8% after second-quarter profit and sales beat forecasts. Wynn Chief Executive Craig Billings said the post-Covid recovery in Macau “accelerated during the quarter.”

Illumina

(ILMN) reduced its full-year guidance and shares of the gene-sequencing company declined 3.5% in premarket trading. Interim Chief Executive Charles Dadswell said

Illumina

expect second-half revenue to be “negatively impacted by customers remaining more cautious in their purchasing,” and “a more protracted recovery in China.”

Sonos

(SONO) was up 6.1% after the maker of wireless audio speakers reported better-than-expected fiscal third-quarter revenue and said it expects fiscal-year revenue of between $1.64 billion and $1.66 billion, compared with its previous guidance of $1.625 billion to $1.675 billion. 

Trade Desk

(TTD) reported second-quarter adjusted earnings of 28 cents a share, higher than expectations of 26 cents, while revenue of $464 million also beat forecasts. Shares of the internet advertising platform company rose 0.2%.

Write to Joe Woelfel at joseph.woelfel@barrons.com