Movers: Caterpillar, Comcast, Meta, McDonald's, PayPal, Teladoc, ServiceNow, Qualcomm

Barry Adams
28 Apr, 2022
New York City

Caterpillar Inc fell 1.7% after the construction equipment maker said first-quarter revenues increased 14% to $13.6 billion but operating profit margin declined to 13.7% from 15.3% a year ago. 

Cheesecake Factory eased 0.01% after the restaurant chain operator reinstated its quarterly dividend and share repurchase program. 

Fiscal first-quarter 2022, ending on March 29, sales rose 26% to $793.7 million, net income surged five-fold to $23.2 million from $3.8 million, and diluted earnings per share was 45 cents compared to a loss of 3 cents.

Comcast Corp declined 3.2% after the media company said revenues increased 14% to $31 billion and net income rose 6.6% to $3.5 billion. 

Ford Motor Company gained 0.9% after the automaker said revenues declined 5% to $34.5 billion and net loss of $3.1 billon primarily attributable to investment valuation in Rivian. Adjusted earnings before interest and taxes was $2.3 billion. 

The market share declined to 4.8% from 5.3% a year ago and the company shipped 966,000 vehicles or 6% fewer a year ago.  

Meta Platforms, Inc increased 14.3% after the social media platform operator said monthly daily active users across all platforms increased 6%. 

First-quarter 2022 total revenues increased 7% to $27.9 billion, net income declined 21% to $7.5 billion, and diluted earnings per share fell 18% to $2.72 from $3.30 a year ago. 

McDonald's Corporation gained 1.4% after the restaurant chain operator said first-quarter sales increased 11% and global comparable sales increased 12% driven by 3.5% increase in U.S. location. 

First-quarter 2022 total revenues increased 11% to $5.7 billion, earnings decreased 28% to $1.1 billion, and earnings per share fell to $1.48 from $2.05. 

PayPal Holdings Inc added 2.8% after the payment processing company said it added a net new 2.4 million accounts and processed a total payment volume of $323 billion. 

First quarter revenues increased 7% to $6.6 billion but earnings per share declined to 43 cents from 92 cents a year ago. 

ServiceNow Inc advanced 7.3% after the digital workflow company said total revenues in the first quarter rose 27% to $1.7 billion but net income plunged to $75 million from $352 million and earnings per share declined to 37 cents from $1.73 a year ago. 

Southwest Airlines increased 3.2% and said first quarter operating revenues declined 8.8% to $4.7 billion and reported quarterly loss of $278 million. 

The airline also guided second quarter revenues to increase between 8% and 12% and load factor around 88%. 

Teladoc Health Inc plunged 44.3% after the online health service provider said first quarter revenues increased 25% to $565 million and $6.6 billion of loss in the quarter linked to goodwill impairment charges. 

The company guided second quarter revenues between $580 million and $600 million and net loss per share between 72 cents and 60 cents. 

Qualcomm, Inc increased 6.6% the wireless chipmaker reported fiscal second quarter revenues increased 41% to $11.1 billion on higher sales for android phone chips. 

Earnings per share rose 68% to $2.57 from $1.53 a year ago.