Sweetgreen reported a strong gain in revenue and a decline in net loss in the first quarter. Akamai Technologies' second quarter guidance fell short of market expectations. Novavax struck a multi-billion-dollar licensing agreement with Sanofi. 

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Arm Holding's second-quarter revenue outlook disappointed some investors. Airbnb reported record first-quarter results but offered a muted current-quarter outlook. Uber reported a loss in its latest quarter. 

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U.S. Movers: Apple, Amgen, Expedia

May 3, 2024
Scott Peters
Apple said revenue and earnings declined in the March quarter and announced a $110 billion stock repurchase plan. Expedia reported higher revenue in the first quarter, but the company's guidance disappointed some investors. Amgen said it plans to take its injectable weight loss drug to a phase 3 trial. 

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Carvana announced record revenue and net income in the first quarter after vehicle unit sales jumped 16%. DoorDash reported a wider-than-expected loss in the first quarter. eBay reported mixed quarterly results and guided weaker-than-expected current quarter revenue.

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Starbucks reported weaker-than-expected quarterly results in the first quarter, and the coffee chain lowered its full-year outlook. Amazon said quarterly revenue growth was driven by strong gains in its cloud service business and advertising revenue. AMD reiterated its full-year outlook. 

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McDonald's reported weaker-than-expected comparable same-store sales worldwide and in the U.S. Coca-Cola's first quarter sales and earnings were ahead of expectations. Eli Lilly sales surged, driven by price increases and volume growth of new products. 

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Domino's Pizza reported strong quarterly results after U.S. same-store sales accelerated and gross margin improved. Tesla passed a key milestone in launching its self-driving technology in China. Philips settled personal injury and medical monitoring claims linked to its Respironics devices.

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Microsoft reported fiscal third quarter revenue and earnings that exceeded market expectations but offered a lighter revenue estimate in the current quarter. Alphabet reported stronger-than-expected revenue and earnings in the first quarter. 

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Meta Platforms reported strong quarterly results, but the company's second quarterly outlook fell short of market expectations. Lam Research projected higher revenue in the current quarter, driven by an AI chip demand surge. 

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Texas Instrument projected higher second-quarter revenue after reporting better-than-expected first-quarter earnings. Tesla said results are likely to improve in the second quarter, but vehicle unit sales are likely to be weaker in 2024. Boeing reported a smaller-than-expected loss in the first quarter. 

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GE Aerospace reported better-than-expected quarterly results and projected annual earnings that surpassed market expectations. General Motors raised its 2024 earnings outlook. JetBlue reported a wider quarterly loss in the first quarter.

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KB Home announced a new stock repurchase plan and declared a cash dividend. Netflix reported sharply higher revenue and earnings in its latest quarter. Intuitive Surgical reported better-than-expected quarterly results.

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Alaska Air estimated higher-than-expected earnings in the second quarter and for the full year due to a stronger-than-expected rebound in travel demand. Equifax's current-quarter outlook fell below market expectations. 

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The Dutch advanced chip equipment maker reiterated its annual revenue outlook. United Airlines reported better than expected results in the first quarter. JB Hunt's revenue and earnings fell short of market expectations. 

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AMD released its latest chip to power personal computers to process artificial intelligence tasks. Morgan Stanley reported strong quarterly revenue backed by an increase in investment banking activities. Bank of America said net interest income advanced in the first quarter.

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