Finance

AMZN, SBUX, PINS, AMD and more

Published

1 year ago

April 30, 2024

Business Finance News

An Amazon worker walks past his Amazon Prime delivery truck in Washington, DC, on February 19, 2022.

Stefani Reynolds | Afp | Getty Images

Check out the companies making headlines in extended trading.

Amazon — Shares gained nearly 2% after the company beat on both top and bottom lines. Amazon posted earnings of 98 cents per share on $143.31 billion in revenue. Analysts surveyed by LSEG had forecast earnings of 83 cents per share on $142.5 billion in revenue. The advertising and Amazon Web Services segments also topped expectations. However, the company’s second-quarter revenue forecast was shy of estimates.

Starbucks — Shares slipped almost 10% in extended trading after the coffee chain missed fiscal second-quarter estimates on the top and bottom line. Starbucks earned 68 cents per share on revenue of $8.56 billion, and missed the forecast from analysts polled by LSEG of 79 cents per share for earnings and $9.13 billion for revenue.

Advanced Micro Devices – The chip company fell more than 7% after its gaming segment revenue for the first quarter came in at $922 million, down 48% on a year-over-year basis. Total revenue was slightly ahead of the Street’s expectations at $5.47 billion, versus the consensus estimate of $5.46 billion, per LSEG. It forecast revenue for the current quarter in line with the analyst forecast of $5.70 billion.

Pinterest — Shares surged nearly 19% following an earnings and revenue beat in the first quarter. Pinterest reported adjusted earnings of 20 cents per share, topping forecasts for 13 cents per share, according to LSEG. Revenue growth also accelerated in the quarter.

Super Micro Computer — Shares dropped nearly 8% after Super Micro Computer posted fiscal third-quarter revenue of $3.85 billion, missing the $3.95 billion consensus estimate, according to LSEG. Adjusted per-share earnings of $6.65 topped the per-share estimate of $5.78. The company also issued strong fourth-quarter revenue guidance.

Chesapeake Energy — Shares were little changed after the natural gas producer posted disappointing earnings of 56 cents per share, excluding items. The results missed the FactSet consensus estimate of 59 cents per share.

Caesars Entertainment — The casino stock lost about 3% on disappointing first-quarter results. Caesars posted a wider-than-expected loss of 73 cents per share, while analysts had estimated losses of 7 cents per share, per LSEG data. Revenue also missed forecasts, coming in at $2.74 billion versus consensus estimates of $2.84 billion.

Mondelez International — The snack company’s shares slipped more than 1% despite announcing better-than-expected first-quarter results. Mondelez posted adjusted earnings of 95 cents per share on $9.29 billion in revenue. Analysts’ estimates called for earnings of 89 cents per share and $9.16 billion in revenue, according to LSEG data. However, management said it expects currency translation to reduce net revenue growth by around 1.5% this year.

Diamondback Energy – The oil and gas company posted earnings of $4.50 per share, excluding items, that beat analysts’ estimates by 4 cents per share, according to FactSet, for the first quarter. Revenue came in at $2.23 billion, beating expectations of $2.10 billion. The shares fell 1% after hours.

Clorox — The consumer goods company slipped 3%. Revenue in the fiscal third quarter came in at $1.81 billion, missing estimates of $1.87 billion, according to LSEG.

— CNBC’s Sarah Min, Brian Evans, Alex Harring, Darla Mercado and Tanaya Macheel contributed reporting

Finance

Stocks making the biggest moves midday: WBD, MODG, SATS, AAPL

Published

9 hours ago

June 9, 2025

Business Finance News

Finance

Walmart taps own fintech firm for credit cards after Capital One exit

Published

10 hours ago

June 9, 2025

Business Finance News

A Capital One Walmart credit card sign is seen at a store in Mountain View, California, United States on Tuesday, November 19, 2019.

Yichuan Cao | Nurphoto | Getty Images

Walmart‘s majority-owned fintech startup OnePay said Monday it was launching a pair of new credit cards for customers of the world’s biggest retailer.

OnePay is partnering with Synchrony, a major behind-the-scenes player in retail cards, which will issue the cards and handle underwriting decisions starting in the fall, the companies said.

OnePay, which was created by Walmart in 2021 with venture firm Ribbit Capital, will handle the customer experience for the card program through its mobile app.

Walmart had leaned on Capital One as the exclusive provider of its credit cards since 2018, but sued the bank in 2023 so that it could exit the relationship years ahead of schedule. At the time, Capital One accused Walmart of seeking to end its partnership so that it could move transactions to OnePay.

The Walmart card program had 10 million customers and roughly $8.5 billion in loans outstanding last year, when the partnership with Capital One ended, according to Fitch Ratings.

For Walmart and its fintech firm, the arrangement shows that, in seeking to quickly scale up in financial services, OnePay is opting to partner with established players rather than going it alone.

In March, OnePay announced that it was tapping Swedish fintech firm Klarna to handle buy now, pay later loans at the retailer, even after testing its own installment loan program.

One-stop shop

In its quest to become a one-stop shop for Americans underserved by traditional banks, OnePay has methodically built out its offerings, which now include debit cards, high-yield savings accounts and a digital wallet with peer-to-peer payments.

OnePay is rolling out two options: a general-purpose credit card that can be used anywhere Mastercard is accepted and a store card that will only allow Walmart purchases.

Customers whose credit profiles don’t allow them to qualify for the general-purpose card will be offered the store card, according to a person with knowledge of the program.

OnePay didn’t yet disclose the rewards expected with the cards, though the general-purpose card is expected to provide a stronger value, said this person, who declined to be identified speaking ahead of the product’s release. The Synchrony partnership was reported earlier by Bloomberg.

“Our goal with this credit card program is to deliver an experience for consumers that’s transparent, rewarding, and easy to use,” OnePay CEO Omer Ismail said in the Monday release.

“We’re excited to be partnering with Synchrony to launch a program at Walmart that checks each of those boxes and will help serve millions of people,” Ismail said.