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F5 Shares Rise 15%; Diageo Falls 10% on Annual Sales Decline; BP Boosts Dividend and Buyback Program

Fernanda T
Latest News
July 30 2024 6:03AM

F5 (NASDAQ:FFIV) – The security and networking solutions company reported adjusted earnings of $3.36 per share in the third fiscal quarter, beating LSEG’s estimate of $2.97 per share. Revenue was $695 million, above the expected $686 million. F5 shares rose 15.4% in pre-market trading.

Diageo Plc (NYSE:DEO) – Diageo Plc faced its first annual sales decline since 2020, with a 1.4% drop to $20.3 billion. Slowdowns in Latin America, the Caribbean, and the US, along with reduced demand for stockpiled pandemic beverages, negatively impacted sales, leading to a drop in company shares. East African Breweries Plc, Diageo’s unit in Kenya, saw its annual profit fall 12% due to floods, social unrest, and rising interest rates. Despite a 13% increase in net revenue, demand was affected by adverse economic conditions and high financial costs. Diageo shares fell 9.6% in pre-market trading.

BP plc (NYSE:BP) – The British energy giant posted a net profit of $2.7 billion in the second quarter, exceeding expectations. The underlying replacement cost profit was $2.8 billion, above the $2.6 billion expected. BP’s net debt was $22.6 billion, down from $23.7 billion compared to the same period last year. BP increased the dividend by 10% to 8 cents per share and maintained a $1.75 billion share buyback program. BP shares rose 2% in pre-market trading.

Tilray Brands (NASDAQ:TLRY) – The global cannabis and beverage company, which ventured into craft beer by acquiring Anheuser-Busch brands, saw a 127% growth in alcoholic beverage revenue, reaching $76.7 million last quarter. The company reduced its loss to $15.4 million (4 cents per share), exceeding Wall Street expectations. Tilray Brands reported a 25% increase in total revenue, reaching $229.9 million last quarter, including sales of cannabis, beverages, and wellness products. Tilray shares rose 8.5% in pre-market trading.

Nomura Holdings (NYSE:NMR) – In the first quarter, Nomura Holdings reported a net profit of $446 million, a 195% increase from last year. Pre-tax revenue in wealth management rose 84%, reaching the highest level since 2015/16. Assets under management reached a record $598 billion (92.5 trillion yen).

Symbotic (NASDAQ:SYM) – The warehouse automation and logistics company saw revenue increase in the third quarter, reaching $491.9 million, surpassing expectations of $464.4 million. The loss was reduced compared to the same quarter last year to $2.5 million, or 2 cents per share. The company forecasts revenue between $455 million and $475 million in the fourth quarter, below analysts’ expectations. Symbotic shares fell 19.9% in pre-market trading.

Lattice Semiconductor (NASDAQ:LSCC) – The programmable chip company reported a net profit of $22.6 million (16 cents per share) in the second quarter, beating analysts’ forecast of 9 cents per share. Revenue fell 35% to $124.1 million, below the estimated $130.2 million. The company forecasts revenue of $117-137 million in the third quarter, while Wall Street expects $142.5 million. Lattice shares fell 16.2% in pre-market trading.

Sprouts Farmers Market (NASDAQ:SFM) – The organic grocery chain reported second-quarter profit of $95.3 million (94 cents per share), beating the forecast of 79 cents. Revenue grew 12% to $1.89 billion, above the expected $1.84 billion. Sprouts Farmers expects adjusted third-quarter earnings of 71 to 75 cents per share and projects same-store sales to increase 3.5% to 4.5% compared to the previous year. Sprouts shares rose 16.7% in pre-market trading.

Chesapeake Energy (NASDAQ:CHK) – The gas exploration and production company reported quarterly earnings of 1 cent per share, a 98.44% drop from last year. Quarterly sales were $505 million, below the estimated $787.14 million, a 73.29% drop. The company reduced its capital expenditure and production guidance for 2024 by 4% and 8%, respectively, due to increased operational efficiency.

Microsoft (NASDAQ:MSFT) – Microsoft will announce earnings after market close today. Microsoft investors will be watching for the impact of billions spent on AI infrastructure on Azure revenue. Azure’s growth is expected to remain around 31%, but returns on AI investments are crucial to justify the company’s high capital expenditures.

Advanced Micro Devices (NASDAQ:AMD) – AMD will announce earnings after market close. FactSet analysts expect revenue of $6.6 billion and earnings of 80 cents. AMD’s revenue forecast for AI GPUs was raised to over $4 billion. AMD shares rose 0.5% in pre-market trading.

Starbucks (NASDAQ:SBUX) – Starbucks is expected to report earnings of 93 cents per share, a 7% drop from last year. Expected sales are $9.25 billion, a slight decrease. The company faces challenges with weak sales and a competitive market, impacting its shares and forecasts. Starbucks shares rose 0.1% in pre-market trading.

GSK (NYSE:GSK), Moderna (NASDAQ:MRNA) – Investors are watching Pfizer, GSK, and Moderna’s strategies for RSV vaccines. They are expected to reveal details on pharmacy deals and market strategies, especially after the CDC restricted the use of vaccines for older adults. GSK leads the market, but Pfizer and Moderna are also competing strongly. GSK shares fell 0.4% in pre-market trading.

Pfizer (NYSE:PFE) – Pfizer is expected to report financial results indicating sales of $13 billion and earnings of $0.46 per share for the second quarter. After a 40% drop in 2023, its shares have risen 20% since May, but the company faces challenges, including competition in weight loss treatments and a limited vaccine. Pfizer shares fell 0.5% in pre-market trading.

Merck (NYSE:MRK) – Merck will report earnings, focusing on the initial performance of Winrevair, its new pulmonary arterial hypertension drug. Winrevair is expected to generate $57 million in the second quarter and could reach $6 billion in annual sales by 2029. Merck will also report Keytruda sales of $6.8 billion. Merck shares rose 0.8% in pre-market trading.

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