Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

After-Hours Stock Movers 05/23: Snap's Warning Sends Shivers Throughout Tech; Zoom Gains on Results (more...)

Published 05/24/2022, 05:58 AM
Updated 05/24/2022, 05:58 AM

After-Hours Stock Movers:

Snap (NYSE:SNAP) 28% LOWER; warns for Q2. The company said since they issued guidance on April 21, 2022, the macroeconomic environment has deteriorated further and faster than anticipated. As a result, we believe it is likely that we will report revenue and adjusted EBITDA below the low end of our Q2 2022 guidance range.

INmune Bio Inc (NASDAQ:INMB20% LOWER; announced that on May 20, 2022, the Company was informed via e-mail communication from the U.S. Food and Drug Administration (FDA) requesting additional information around Chemistry Manufacturing and Controls (CMC) of the newly manufactured XPro1595 (XPro™). As part of the communication, the Agency placed the Company’s Investigational New Drug (IND) application to initiate its Phase 2 clinical trial of XPro™ in patients with Alzheimer’s Disease (AD) in the U.S. on clinical hold. The FDA indicated they will provide an official clinical hold letter to INmune in approximately 30 days. INmune plans to provide additional updates pending discussion with the FDA. The Phase 2 trial of XPro™ remains open in Australia and continues to enroll patients.

Nautilus (NYSE:NLS14% LOWER; reported Q4 EPS of ($0.58), in-line with the analyst estimate of ($0.58). Revenue for the quarter came in at $119.7 million versus the consensus estimate of $120.85 million.

Pinterest, Inc. (NYSE:PINS) 12% LOWER; falls on Snap's Q2 warning.

Meta Platforms Inc (NASDAQ:FB8% LOWER; falls on Snap's Q2 warning.

Zoom (NASDAQ:ZM) 5% HIGHER; reported Q1 EPS of $1.03, $0.16 better than the analyst estimate of $0.87. Revenue for the quarter came in at $1.07 billion versus the consensus estimate of $1.07 billion. Zoom sees Q2 2023 EPS of $0.90-$0.92, versus the consensus of $0.88. Zoom sees Q2 2023 revenue of $1.115-1.12 billion, versus the consensus of $1.11 billion. Zoom sees FY2023 EPS of $3.70-$3.77, versus the consensus of $3.53. Zoom sees FY2023 revenue of $4.53-4.55 billion, versus the consensus of $4.55 billion.

Google (NASDAQ:GOOGL) 4% LOWER; falls on Snap's Q2 warning.

Twitter, Inc. (NYSE:TWTR) 4% LOWER; falls on Snap's Q2 warning.

Albemarle Corporation (NYSE:ALB) 3% HIGHER; further revised its full-year 2022 guidance today, reflecting mainly the completion of additional lithium contract renegotiations with its lithium customers following its Q1/22 earnings release on May 4, 2022. Net sales are now expected to be in the range of $5.8 - $6.2 billion versus the prior outlook of $5.2 - $5.6 billion and the consensus of $5.44 billion. Adjusted EBITDA is now seen in the range of $2.2 - $2.5 billion versus the prior guidance of $1.7 - $2.0 billion. Adjusted diluted EPS in the range of $12.30 - $15.00 versus the consensus of $10.88 and prior guidance of $9.25 - $12.25.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.