Microsoft, Boeing, Alphabet, Robinhood and more

A worker inspects a Boeing 737 MAX aircraft at Renton Airport adjacent to the Boeing Renton Factory in Renton, Washington on November 10, 2020.

Jason Redmond | AFP | Getty Images

Check out the companies that are making headlines in early morning trading.

Enphase Energy – The shares of the manufacturer of solar microinverters increased by more than 8% during pre-market trading after the company’s results for the first quarter. Enphase reported record revenue and exceeded analysts’ expectations on both the top and bottom line. The company said Europe will be a key growth area looking ahead as Russia’s invasion of Ukraine causes electricity prices to skyrocket.

Juniper Networks – The network technology maker saw its shares fall 6.1% after reporting first-quarter earnings that came slightly lower than analysts’ estimates. Management said on the company’s earnings call that ongoing supply chain challenges have resulted in extended delivery times and increased logistics and component costs.

Edwards Lifesciences – The artificial heart valve manufacturer’s shares fell 3.6% despite reporting a revenue slump for the first quarter as the company issued weak revenue expectations for the current quarter.

Visa – Visa’s share rose 5.5% before the market after a blow to the top and bottom lines in the previous quarter, as it expects travel recovery to bring continued growth. The payment company reported an adjusted earnings per. share of $ 1.79 with a turnover of $ 7.19 billion. Analysts expected $ 1.65 adjusted earnings per share and $ 6.83 billion in revenue, according to Refinitiv.

Texas Instruments – Shares of Texas Instruments fell 2.9% after the technology company issued weak earnings and revenue guidance for the current quarter, saying it expects reduced demand from Covid restrictions in China.

Boeing – The aircraft manufacturer’s shares fell 1.3% after the company had weaker-than-expected earnings and revenue in the most recent quarter. Boeing also said it is stopping production of its 777X aircraft and does not expect deliveries to start before 2025.

Harley-Davidson – The motorcycle manufacturer’s shares fell 1.4% after the company reported earnings for the previous quarter, which were in line with analysts’ estimates, to $ 1.45 per share, according to Refinitiv. Its quarterly revenue also missed out slightly on estimates, at $ 1.30 billion against $ 1.31 billion.

Robinhood – The retail brokerage company’s shares fell 4.5% in early trading after the company reported it would cut about 9% of its staff, citing “duplicate roles and job functions” following its expansion last year. Robinhood reported 3,800 full-time employees per. 31th December.

Alphabet – Shares of Google’s parent company fell 3.5% in pre-market trading after reporting a top and bottom line miss in the first quarter and weak earnings from YouTube. Alphabet reported earnings per share of $ 24.62 per share on revenue of $ 68.01 billion. Analysts expected earnings of $ 25.91 on revenue of $ 68.11 billion, according to Refinitiv.

Microsoft – Shares of Microsoft rose 4% before the market after hitting the top and bottom lines in the previous quarter and shared strong guidance for the current quarter. Revenue guidance for all three of the company’s business segments in the current quarter exceeded analysts’ expectations.

Capital One – The Capital One stock lost 5.4% in early trading despite beating earnings and revenue estimates for its most recent quarter. The company’s results included a pre-tax effect of $ 192 million from gains on partnership card portfolios and lower-than-expected net interest margins.

– CNBC’s Samantha Subin and Pippa Stevens contributed reporting

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