Movers: AMD, Airbnb, Akamai, CVS, Lyft, Match Group, Starbucks, Uber

Barry Adams
04 May, 2022
New York City

Advanced Micro Devices, Inc increased 5.6% to $96.34 after the advanced chip maker reported first quarter revenues surged 71% to $5.9 billion and gross margin increased two percentage points to 48%. 

Net income in the quarter increased 48% to $786 million and earnings per share 24% to 56 cents from 45 cents a year ago. 

The chipmaker also lifted the full-year 2022 revenue growth outlook to 60% to $26.3 billion from the previous estimate of 31% increase. 

Airbnb Inc increased 7% to $155.10 after the online travel booking site reported March quarter revenues soared 70% to $1.5 billion and net loss shrank to $19 million from $1.2 billion a year ago. 

The company also reported the average daily room rate increased to $168, an increase of 5% from a year ago and 37% from the same quarter in 2019. 

Nights and experiences booked on the platform exceeded 100 million for the first time ever and surpassed pre-pandemic levels. 

Akamai Technologies Inc declined 11.8% to $100.39 after the network security company reported first quarter revenues increased 7% to $904 million and net revenues declined 23% to $119 million. 

The adjusted earnings per share declined 1% to $1.39 below analysts' estimates on the account of blocking Russia related traffic and currency headwinds.  

CVS Health Corp increased 1.2% to $97.57 after the pharmacy retailer's  first quarter profit beat estimates and cited strong momentum across all business segments. 

The pharmacy retailer lifted its adjusted earnings per share outlook for 2022 to a range between $8.20 and $8.40 from the previous range between $8.10 and $8.30 a share. 

Lyft Inc plunged 27.6% to $22.20 after ride-hailing company reported first quarter revenues soared 44% to $875.6 million and net loss shrank more than 50% to $196.9 million. 

The company also said second quarter higher marketing expenses are likely to depress the adjusted EBITDA to between $10 million and $20 million from $54.8 million in the first quarter.  

Match Group Inc fell 4.8% to $75.11 said revenues increased 20% to $799 million and total subscribers increased 13% to 16.3 million. 

Net income increased 3.3% to $180 million and diluted earnings per share rose to 60 cents from 57 a year ago. 

The company guided second quarter revenues between $800 million and $810 million and adjusted operating earnings between $285 million and $290 million compared to $273 million in the first quarter. 

Starbucks Corp gained 7.2% to $79.22 after the coffee chain retailer said March quarter revenues increased 15% driven by a stronger sales increase in the U.S. offset by sales decline in China, the second largest market for the coffee chain. 

Operating margins also declined on the rising wages and supply chain costs. 

The company is also facing employee unionization drive across its several locations and detailed higher wages and improved benefits 

Tupperware Brands Corp plunged 29.8% to $12.74 after the storage products maker reported first quarter revenues declined 16% to $348.1 million and swung to a net loss of $0.1 million from $45.3 million profit a year ago.  

The company also withdrew its full-year 2022 outlook and said it is not confident that it can achieve its targets in adjusted earnings per share and cash flow on the account of geopolitical tensions, supply disruptions and inflation trends. 

Uber Technologies Inc fell 7.5% to $27.25 after the ride-hailing company reported first quarter gross booking surged 35% to $26.4 billion and revenues rose 136% to $6.9 billion. 

Net loss in the quarter was $5.9 billion which included $5.6 billion unrealized losses linked to equity revaluations in Didi, Grab, and Aurora. 

The company guided second quarter adjusted operating earnings between $240 million and $270 million from $170 million in the first quarter.