Check out the companies making headlines in premarket trading. Coca-Cola — The soda maker popped 3% after beating Wall Street expectations on both lines for the fourth quarter. Coca-Cola earned 55 cents adjusted per share on $11.54 billion in revenue, while analysts polled by LSEG forecasted 52 cents in earnings per share and $10.68 billion in revenue. DuPont de Nemours – Shares jumped 5% after the chemical company’s fourth-quarter results topped Wall Street expectations. DuPont posted adjusted earnings of $1.13 per share on revenue of $3.09 billion. That’s above the 98 cents per share and $3.07 billion in revenue that analysts surveyed by LSEG were expecting. AutoNation – The stock gained about 1% following the automotive retailer’s better-than-expected results for the fourth quarter. The company reported adjusted earnings of $4.97 per share on $7.21 billion in revenue, while analysts polled by LSEG penciled in earnings of $4.26 per share and $6.80 billion in revenue. Shopify — The commerce stock dropped 3%. That comes despite the company reporting $2.81 billion in revenue for the fourth quarter, exceeding the estimate of $2.73 billion from analysts surveyed by FactSet. Fluence Energy — The energy storage stock plunged 41% after the company reported a bigger-than-expected loss for the fiscal first-quarter. Fluence said it lost 32 cents per share, while analysts polled by FactSet anticipated a drop of just 19 cents a share. The firm saw revenue of $186.8 million, well under the consensus forecast of $362.5 million. Lattice Semiconductor — Shares surged 14% after revenue surpassed Wall Street’s predictions. The chipmaker posted $117.4 million, above the consensus estimate of $117.1 million from analysts polled by LSEG. Astera Labs — The semiconductor play dropped 4.2% despite fourth-quarter earnings coming in stronger than penciled in by analysts polled by LSEG. Earnings guidance for the first quarter was also better than expected. Coty — The stock slipped 2.5% after the beauty products manufacturer reported a fiscal second-quarter earnings and revenue miss. Cody also expects foreign-exchange headwinds to weigh on reported sales in the second half of the year. CoreCivic — The private prison stock retreated 5% as the company’s full-year earnings guidance disappointed the Street. CoreCivic told investors to expect per-share earnings to come in between 48 cents and 61 cents for the full year. while analysts surveyed by LSEG were anticipating 82 cents a share. That overshadowed a better-than-expected quarterly report. Steel Dynamics — Shares rose 2% after KeyBanc upgraded the American steel producer to overweight from sector weight, saying President Donald Trump’s steel and aluminum duties will boost the stock. Compass — Shares popped 4.5% after UBS upgraded the residential real estate broker, saying it has nearly 50% upside after its recently closed acquisition. Snap — The social media platform pulled back 1.8% on the heels of Guggenheim’s downgrade to neutral from buy. Guggenheim said Snap’s plans for investment will likely pressure profit. First Solar — The solar stock rose nearly 2% in premarket after Mizuho upgraded the name to outperform from neutral. The Wall Street firm said its opinion on the sales outlook post-2026 has materially improved, while it thinks the fears around the Trump administration’s negative impact on the industry are overblown. — CNBC’s Jesse Pound, Sean Conlon, Sarah Min, Yun Li and Michelle Fox contributed reporting.
Check out the companies making headlines before the bell. Insmed – Shares surged more than 26%. The global biopharmaceutical company announced positive results Tuesday from a Phase 2b study of treprostinil palmitil inhalation powder, a once-daily treatment for pulmonary arterial hypertension. J.M. Smucker – The food company’s stock pulled back about 8% after its fourth-quarter revenue of $2.14 billion missed the consensus estimate of $2.18 billion, according to FactSet. Earnings for the quarter beat expectations, however. The company’s guidance also missed expectations. Taiwan Semiconductor Manufacturing – U.S.-listed shares of the chipmaker rose more than 2% after its revenue for May saw a 39.6% increase compared with last year. Revenue for January through May was 42.6% higher than the same period a year ago. Casey’s General Store – The retail stock jumped more than 10% after stronger-than-expected fiscal fourth-quarter results. Casey’s earned $2.63 per share on $3.99 billion in revenue. Analysts expected a profit of $1.94 per share and $3.93 billion in revenue, per FactSet. The company also hiked its dividend by 14%. Apple – The iPhone maker’s stock was slightly higher in premarket trading. It fell 1.2% in the previous session, on the heels of its annual Worldwide Developers Conference on Monday. While the company announced a notable software update dubbed Liquid Glass, it failed to reveal any significant artificial intelligence updates, underwhelming investors . Tesla – Shares of the electric vehicle maker advanced more than 2% after finishing Monday’s session more than 4% higher. President Donald Trump said Monday that he wishes CEO Elon Musk “well” and has no plans to discontinue Starlink at the White House. The pair had a public feud last week. However, Musk responded to a video of the president’s remarks on X with a heart emoji . Calavo Growers – The avocado distributor’s stock plummeted more than 14% after its earnings and revenue for the fiscal second quarter came in weaker than expected. Calavo Growers posted adjusted earnings of 40 cents per share on $190.5 million in revenue, while analysts polled by FactSet were looking for a profit of 53 cents per share and $192.8 million in revenue. McDonald’s – The fast food chain’s shares dropped nearly 2% in premarket trading after Redburn Atlantic double downgraded the stock to a sell rating on declining foot traffic. The Wall Street firm also cited concerns around GLP-1 obesity drugs, pricing and tempered growth expectations. — CNBC’s Jesse Pound and Yun Li contributed reporting.
Check out the companies making the biggest moves midday: Warner Bros. Discovery – Shares jumped 7% after Warner said it will split into two publicly traded companies by next year. One company will host WBD’s streaming services and movie properties, while the other will include its cable networks such as CNN and TNT Sports. Universal Health Services — The hospital operator fell more than 6% after CFO Steve Filton said at a conference that procedural volumes “have been slower to recover back to historical levels than we might have imagined.” He also raised concerns over how President Donald Trump’s spending bill could evolve as it goes through the Senate, and what that would mean for the hospital industry, according to a FactSet transcript. Topgolf Callaway Brands — The golf equipment stock rallied 8% following director Adebayo Ogunlesi’s disclosure on Friday that he had bought 383,700 shares. Following the transaction, Ogunlesi owns 512,600 shares. Quaker Chemical – The metal processing fluid company, which does business as Quaker Houghton, jumped 10%. On Monday, Jefferies upgraded the stock to buy from hold, seeing more than 33% upside on the back of improving steel demand conditions and increasing infrastructure spending. EchoStar – Shares tumbled 6% after the Wall Street Journal, citing people familiar, reported the telecommunications company is considering filing for bankruptcy under chapter 11 . The company is trying to protect its wireless spectrum licenses that are under review by the Federal Communications Commission, the report said. Apple — Shares of the iPhone maker are up slightly ahead of the company’s closely watched Worldwide Developers Conference in Cupertino, California . Investors are eager to hear more about Apple’s progress on Apple Intelligence, its response to generative AI models, at the meeting, which kicks off at 1 p.m. ET. Apple shares have lagged the market, with an 18% decline year to date. Robinhood , Applovin – Shares of Robinhood and Applovin fell 5% and 4%, respectively, after neither name was added to the S & P 500 on Friday. Both companies were considered possible candidates for inclusion in the index . Robinhood soared more than 13% last week leading up to the rebalance announcement, while Applovin advanced more than 6%. Intuitive Surgical — The surgical product maker slid 7% on the heels of Deutsche Bank’s downgrade to sell from hold. Deutsche said the company’s competitive moat is at risk. IonQ – The quantum computing stock climbed 2% after the company announced that it’s agreed to acquire Oxford Ionics in a deal valued at $1.075 billion in cash and stock. The deal is expected to close in 2025. Circle — Shares of the stablecoin issuer jumped 10%, continuing its post IPO surge . Circle’s stock is now nearly 300% above its $31 per share IPO price. McDonald’s – The fast-food chain’s stock slipped nearly 2% on the heels of a Morgan Stanley downgrade to equal weight from overweight. Morgan Stanley said the company hasn’t been insulated from pressures on the fast food sector. Moelis & Co. — Shares were more than 1% lower. On Monday, The Wall Street Journal reported that CEO Ken Moelis is planning to step down from the role at the investment bank. He said in an interview that he’s expected to become executive chairman, effective Oct. 1. Co-president Navid Mahmoodzadegan is slated to become CEO, the report said. Aon — Shares of the professional services company slipped 4% after Aon reaffirmed its full-year guidance during its investor day Monday. — CNBC’s Sean Conlon, Lisa Han, Alex Harring, Michelle Fox, Christina Cheddar Berk and Jesse Pound contributed reporting.
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.
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.
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