Check out the companies making headlines in premarket trading: CrowdStrike — Shares slipped 5% after CNBC reported that Delta Airlines has retained legal counsel to pursue damages from both CrowdStrike and Microsoft after a software update led to mass flight interruptions in July. Woodward — The aerospace and industrial equipment company slipped more than 11% after fiscal third-quarter revenue missed Wall Street estimates. Woodward posted revenue of $847.7 million in the quarter, while analysts polled by FactSet forecast $853.3 million. F5 Inc . — Shares surged nearly 14% after the software company reported a top- and bottom-line beat in the fiscal third quarter. F5 posted adjusted earnings of $3.36 per share, compared to an LSEG estimate of $2.97 per share. Revenue of $695 million was also higher than the $686 million expected. Amkor Technology — The semiconductor packaging company edged more than 6% lower after Amkor’s third-quarter outlook missed Wall Street estimates. Amkor expects earnings per share in the range of 42 cents to 56 cents in the fourth quarter, while analysts surveyed by FactSet had forecast 64 cents per share. Merck — Shares were down more than 1% after the pharma giant issued weaker-than-expected earnings guidance for the full year. The company sees its full-year bottom line in a range of $7.94 per share to $8.04 per share. That missed a FactSet estimate of $8.16 per share and was below a previous company forecast. Lattice Semiconductor — Shares dove 15.9% after second-quarter earnings and current-quarter revenue guidance came in below expectations. Lattice earned 23 cents per share, excluding items, on $124 million in revenue during the second quarter, while analysts polled by LSEG anticipated 24 cents in earnings per share and $130 million in revenue. Bank of America downgraded shares to underperform from neutral, citing cooling prospects for growth and little visibility. Pfizer — Shares gained 1.4% after the drugmaker posted a second-quarter earnings and revenue beat . Pfizer also raised its full-year outlook. It now expects adjusted earnings per share of $2.45 to $2.65 for the fiscal year and revenue between $59.5 billion and $62.5 billion. Varonis Systems — Shares of the data security company surged 10% after Varonis Systems posted second-quarter results that exceeded expectations and issued stronger-than-expected current-quarter guidance. Adjusted earnings of 5 cents per share topped the loss of 2 cents per share forecast by analysts polled by FactSet. Revenue of $130.3 million came in above the $124.8 million consensus estimate. Symbotic — Shares of the automation company fell more than 19% after weak guidance for the fiscal fourth quarter. Symbotic said it expects revenue between $455 million and $475 million in its fiscal fourth quarter, compared to a FactSet consensus of $516.9 million. The company also reported $491.9 million in revenue for its fiscal third quarter, which was above a Wall Street forecast of $464.6 million. Howmet Aerospace — The aerospace manufacturer climbed 8% after posting second-quarter adjusted earnings of 67 cents per share, higher than the 60 cents analysts polled by FactSet had expected. The firm’s revenue of $1.88 billion also exceeded the estimated $1.83 billion. Additionally, Howmet increased its quarterly dividend to 8 cents per share from 5 cents per share, to be payable Aug. 26. Corning — Shares dropped 5.5%. The company, known for developing the Gorilla Glass used for iPhones, reported second-quarter earnings per share of 47 cents, slightly above the 46 cents expected from analysts polled by LSEG. Earnings guidance, however, was about in line with analysts’ expectations. Archer-Daniels-Midland — Shares fell 2% after the agricultural products maker reported adjusted second-quarter earnings of $1.03 a share, far below the $1.22 consensus analyst estimate via LSEG. ADM’s revenue for the period also missed expectations. JetBlue — Shares jumped 4% after the airline said adjusted earnings per share was 8 cents for the second quarter. Analysts had expected a loss. Revenue was slightly better than expected in the period. PayPal — Shares jumped 4% after the payments company said second-quarter adjusted earnings per share was $1.19, far ahead of the 99 cents per share expected by analysts polled by FactSet. PayPal also raised its 2024 outlook and upped its share buyback plan. Procter & Gamble — Shares fell 3% after the consumer products giant reported second-quarter revenue of $20.53 billion, below the $20.74 billion expected by analysts surveyed by LSEG. P & G’s adjusted earnings of $1.40 a share for the period was higher than the $1.37 a share expected by analysts, according to LSEG. Leidos — The stock popped more than 7% on the back of better-than-expected second-quarter results. Leidos, which provides IT services for the U.S. Pentagon, earned $2.63 per share, excluding items, on revenue of $4.13 billion. Analysts polled by StreetAccount expected a profit of $2.27 per share on revenue of $4.06 billion. The company also raised its full-year earnings guidance. Zebra Technologies — Shares of the tracker and computer printing technology manufacturer gained 3% after the company reported second-quarter results that beat expectations. Zebra earned $3.18 per share, excluding certain items, on revenue of $1.22 billion. Analysts expected a profit of $2.80 per share on revenue of $1.18 billion, according to StreetAccount. The company also increased its full-year earnings guidance. — CNBC’s Michelle Fox, Hakyung Kim, Lisa Kailai Han, Alex Harring, Jesse Pound, Fred Imbert and John Melloy contributed reporting.
We asked the “Fast Money” traders to share which market areas should see the most promise — and problems — over the next 100 days.
No. 1: Karen Finerman
Most promise: Big cap pharma. She’s bullish because the group is “way oversold,” and it’s largely out of the tariff crossfire.
Most problems: Container space. It’s likely seeing benefits right now from a big pull forward in demand. If the tariff fight takes a while to get resolved, expect to see fewer containers and a reduction in full containers overall, making for a “very sad income statement.”
No. 2: Tim Seymour
Most promise: Semiconductors and international investing. In the case of semis, they’re the “ultimate cyclicals” and should be a buying opportunity built off of beaten-down valuations. He predicts supply and demand dynamics will “rage again” in the year’s second half.
Seymour is also bullish on international investing. His name for it: MIGA, an acronym for “Make International Great Again.”
He highlights Germany’s DAX index outperforming the S&P 500 since late November. According to Seymour, it’s a trade that should still work over at least the next 100 days because tariffs are both a wake-up call and tailwind.
He lists relative valuation attractiveness and “Magnificent Seven” exhaustion among other key upside drivers.
Most problems: Companies exposed to consumer credit and discretionary spending. Seymour expects U.S. consumers to tighten their belts due to high prices and a deteriorating jobs market.
No. 3: Dan Nathan
Most promise: “Cash will be king.”
Nathan sees little working. He notes defensive groups including utilities, consumer staples and U.S. Treasurys, which historically benefit during economic distress, will eventually slump. According to Nathan, the headwinds produced by a tariff-induced recession will punish them.
Most problems: Planes, trains and automobiles. His base case scenario is a “protracted trade war” with China and possibly other key nations that will choke demand. Nathan advises consumers to “fasten their seatbelts for unexpected turbulence and bumps in the road.
He thinks retail is in an odd spot. According to Adami, there’s “no way to game this out, but they seemingly have the most at stake.”
He told “Fast Money” on Tuesday that the unemployment rate will likely surprise to the upside.
“When you have an economy that’s predicated on people having jobs and feeling good about things… that becomes problematic,” Adami told viewers. “I think the market is still a little expensive here.”
Check out the companies making headlines in after-hours trading. Starbucks — Shares of the coffee giant slipped 4% after Starbucks missed earnings and revenue estimates for its fiscal second quarter. The company also reported same-store sales figures that reflected a decline for the fifth straight quarter. Starbucks posted adjusted earnings per share of 41 cents on $8.76 billion in revenue, while analysts polled by LSEG expected 49 cents per share on $8.82 billion, respectively. First Solar — Shares of the solar technology company dropped 10% after First Solar offered weak guidance for the full year. The company sees earnings for the period ranging from $12.50 to $17.50 per share, while analysts polled by LSEG sought $18.14 per share. First-quarter earnings also missed the mark. Booking Holdings — Shares of the online travel booking services provider shed 3%. Gross bookings for the first quarter came in at $46.7 billion, only narrowly topping the $46.53 billion StreetAccount consensus estimate. Booking Holdings top- and bottom-line results for the period firmly beat expectations, however. Super Micro Computer — The beleaguered server maker saw its shares plunge 16% in after-hours trading. Super Micro announced preliminary results for the fiscal third quarter that fell short of LSEG consensus expectations. The company also lowered the ranges from earlier guidance for the quarter, which ended on March 31. Visa — Shares added less than 1% after Visa exceeded expectations for the fiscal second financial quarter. Visa posted quarterly earnings of $2.76 per share, excluding items, on revenue of of $9.59 billion. Analysts polled by LSEG called for earnings of $2.68 per share on revenue of $9.55 billion. Snap — Snap posted better-than-expected first-quarter revenue but declined to provide guidance, citing macroeconomic uncertainties in the months ahead that could affect advertising demand. Shares plunged more than 12% as a result. For the quarterly period, Snap reported a loss of 8 cents per share on revenue of $1.36 billion, the latter figure coming out just higher than the $1.35 billion expected by analysts surveyed from LSEG. Caesars Entertainment — Shares added 3%. The casino operator reported first-quarter revenue of $2.79 billion, merely landing in line with Wall Street’s expectations, per LSEG. Losses came in wider than anticipated at 54 cents per share, while analysts sought a loss of 19 cents per share. Qorvo – The provider of semiconductor solutions surged nearly 9% after issuing robust fiscal first-quarter guidance on revenue. Qorvo sees revenue for the period landing at $775 million, compared to the $757 million anticipated by analysts polled by LSEG. Fourth-quarter results topped analysts’ estimates on the top and bottom lines. Oneok – The oil and gas midstream company lost 3%. For the first quarter , Oneok posted adjusted earnings before interest, taxes, depreciation, and amortization of $1.78 billion. The result included $31 million of transaction costs related to the company’s acquisition of EnLink Midstream . Analysts surveyed by FactSet sought $1.93 billion. Seagate Technology – The data storage company jumped nearly 8%. Seagate issued upbeat guidance for the fiscal fourth quarter, calling for adjusted earnings of $2.40 per share on revenue of $2.40 billion, while analysts polled by LSEG called for $2.07 per share in earnings and $2.30 billion in revenue. Third-quarter results also surpassed expectations. — CNBC’s Darla Mercado contributed reporting.
Check out the companies making headlines in midday trading: Spotify — Shares of the music streaming company lost 3.8% on the back of disappointing results. Spotify reported first-quarter operating income of 509 million euros, while analysts polled by FactSet expected 519.9 million euros. Spotify’s revenue of 4.2 billion euros was in line with estimates, while its monthly active users of 678 million met the company’s guidance. General Motors — Shares ticked down 2% after the automaker said it was reconsidering its full-year outlook due to concerns over tariffs and macroeconomic uncertainty. That admission overshadowed a better-than-expected earnings report for the first quarter. Hims & Hers Health — Shares of the telehealth company soared 26% following news that Novo Nordisk will offer its weight loss drug Wegovy through Hims’ platform, as well as Ro and LifeMD. Royal Caribbean — The stock slipped nearly 2% after the cruise operator reported mixed results for its first quarter. Adjusted earnings were $2.71 per share, topping the $2.55 per share expected from analysts polled by FactSet. Revenue came in at $4 billion, just shy of the $4.01 billion consensus estimate. Deutsche Bank — Shares of the German bank jumped 3.5%. The lender saw its profit surge 39% in the first quarter, in addition to a 10% gain in net revenue for the firm’s investment banking segment. Regeneron — The biotech company slid 8.8% following a first-quarter earnings miss and a slashed full-year outlook for gross margin. Regeneron earned an adjusted $8.22 per share on $3.03 billion in revenue, while analysts surveyed by FactSet forecast $8.62 per share and $3.25 billion in revenue. SoFi Technologies — The fintech bank added 1% after first-quarter net revenue topped expectations. SoFi posted an adjusted $770.7 million, beating the consensus estimate of $739 million from analysts surveyed by FactSet. Waste Management — The garbage collection and recycling stock dipped about 1% after first-quarter revenue came in lighter than expected. Waste Management reported $6.02 billion in revenue, below the $6.11 billion projected by analysts, according to FactSet. Pfizer — Shares popped 3% after the drug maker announced an expansion of its cost-cutting initiatives and said its first-quarter profit came in ahead of Wall Street expectations. However, Pfizer posted declining sales due to further slides in Covid vaccine revenue. While Pfizer held its 2025 guidance steady, the company said it was not yet sure how tariffs would affect the business. Honeywell — The manufacturing and technology company rallied 4.5% on better-than-expected earnings for the first quarter. Honeywell earned $2.51 per share, excluding items, and $9.82 billion in revenue, while analysts penciled in $2.21 per share and revenue of $9.59 billion, per FactSet. BP — U.S. shares of the British oil giant retreated nearly 3% after net profit missed the Street’s prediction. BP posted $1.38 billion in underlying replacement cost profit — a proxy for net profit — in the first quarter, while analysts surveyed by LSEG expected $1.6 billion. NXP Semiconductors — The chip stock tumbled 8%. While the company beat expectations on both lines, the company announced Rafael Sotomayor will replace Kurt Sievers as CEO. Leggett & Platt — Shares surged 27% after the bedding products manufacturer reiterated its full-year outlook. Executives said they should see a net benefit from tariffs, but the company cautioned that the duties could weigh on consumer confidence and demand, and could also push inflation up. Sherwin-Williams — The painting and coating company advanced about 5% after posting better-than-expected earnings per share and reaffirming full-year guidance. However, Sherman-Williams recorded $5.31 billion in revenue, missing the $5.40 billion consensus estimate from FactSet. Welltower — Shares of the health-care real estate investment trust rose 1.5% on better-than-anticipated first-quarter results. Welltower recorded $2.42 billion in revenue, while analysts polled by FactSet estimated $2.34 billion. Woodward — The manufacturing stock added 2% after posting fiscal second-quarter adjusted earnings of $1.69 per share on revenue of $884 million. Analysts polled by FactSet had expected earnings of $1.46 per share and revenue of $835.2 million. Woodward also raised the lower end of both its full-year earnings and revenue guidance ranges. Universal Health Services — The health-care facility operator lost nearly 2% after posting $4.10 billion in first-quarter revenue, missing the FactSet consensus forecast of $4.15 billion. But the company earned $4.84 per share, excluding items, beating the Street’s prediction of $4.35 per share. Cadence Design Systems — The electronics design stock advanced 3.9%. The company posted first-quarter earnings of $1.57 per share, excluding items, surpassing the LSEG consensus estimate of $1.49 per share. Cadence’s revenue for the quarter came in line with expectations at $1.24 billion. — CNBC’s Michelle Fox, Hakyung Kim, Pia Singh, Lisa Han, Jesse Pound and Sarah Min contributed reporting.