Movers: Ford Motor, Meta, McDonald's, Morningstar, O'Reilly Auto, Raymond James, Shopify, Teladoc

Scott Peters
27 Oct, 2022
New York City

Credit Suisse Group AG plunged 19.6% to 3.85 after the Swiss bank reported larger-than-expected loss.

Third quarter revenue plunged 30% to 3.8 billion Swiss francs and swung to a loss of 342 million Swiss francs from a profit of 1.0 billion Swiss francs a year ago. 

Ford Motor Company rose 2.9% to $13.20 after the automaker reported a third quarter loss of $827 million. 

Ford said larger-than-expected loss was driven by $1 billion in higher supply chain issues related costs and parts shortages affecting at least 40,000 vehicles sales. 

Meta Platforms plunged 22.2% to $100.61 after the social media platform operator reported a second quarterly fall in revenue in a row. 

Third quarter revenue declined 4% to $27.7 billion and net income plunged 52% to $4.4 billion from $5.2 billion a year ago. 

Diluted earnings per share fell to $1.64 from $3.22 a year ago. 

The company also forecasted revenue in the fourth quarter to fall between $30 billion and $32.5 billion, lower than $33.6 billion in the fourth quarter 2021. 

McDonald's Corp increased 3.5% to $265.45 after the fast food chain operator reported better-than-expected quarterly results and added that the U.S. store traffic rose despite the increase in menu prices. 

The fast food chain operator said global comparable sales increased 9.5% and the U.S. comparable sales increased 6.1%, ninth quarterly increase in a row. 

Third quarter revenues declined 5% to $5.8 billion from $6.2 billion a year ago. 

Net income dropped 8% to $1.98 billion from $2.1 billion and diluted earnings per share fell 6% to $2.68 from $2.86 a year ago. 

McDonald's increased quarterly cash dividend by 10% to $1.52 a share. 

Morningstar, Inc increased 3.6% to $228.20 after the financial information company posted third quarter revenue increased 9.2% to $468.2 million. 

Net loss in the third quarter was $9.0 million, or 21 cents a diluted share, compared to net income $49.0 million, or $1.13 a diluted share. 

The company also reduced its operations in China and took a one-time charge of $30.1 million. 

O'Reilly Automotive Inc gained 3.9% to $808.30 after the auto parts retailer reported the third quarter sales increased 9% to $3.80 billion from $3.48 billion. 

Net income increased to 5% to $585 million or 15.4% of  sales from $559 million or 16.1% of sales. 

 Diluted earnings per common share increased 14% to $9.17 on 64 million shares from $8.07 on 69 million shares a year ago. 

Raymond James Financial, Inc increased 6.6% to $114.02 after the financial services company reported fiscal fourth quarter revenue increased 5% to $2.83 billion. 

Net income in the quarter increased to $437 million or $1.98 a diluted share from $429 million or $2.02 a share from a year ago. 

Raymond James repurchased 600,000 shares of common stock for approximately $62 million at an average price of  approximately $104 per share in the fiscal fourth quarter. 

Including additional share repurchases totaling $38 million  in October, approximately $800 million remained available under the current approved share repurchase  authorization as of October 26, 2022.

The company revised full-year 2022 revenues in the range of $14.1 billion and $14.3 billion and comparable same store sales to rise between 4.5% and 5.5%. 

Shopify Inc surged 18.2% to $34.34 after the e-commerce company reported a smaller-than-expected loss in its latest quarter. 

Shopify reported third quarter sales increased 22% to $1.36 billion from $1.13 billion a year ago. 

In the quarter, the company swung to a net loss of $187.3 million from a profit of $1.14 billion and diluted loss per share of 12 cents from a profit of 90 cents a year ago.  

Gross merchandise volume rose 11% to $46.2 billion and Gross payment volume rose 22% to $25 billion from $20.5 billion a year ago.  

Teladoc Health Inc rose 7.2% to $28.65 after the online healthcare service provider reported smaller-than-expected loss in its latest quarter. 

Revenue in the third quarter increased 17% to $611.4 million from $521.7 million a year ago. 

Net loss in the period fell 13% to $73.5 million from $84.3 million and diluted loss per shrank to 45 cents from 53 cents a year ago. 

The company guided fourth quarter revenue between $625 million and $640 million and net loss per share between 10 cents and 40 cents and total online visits between 4.7 million and 4.9 million.