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This is the closing bell on the stock movers report the company's making moves at the close of US trading with Carol Masser, Tim Stenoveck, Romaine Bostik, and Katie Greifel.
Wow, what a month. Unbelievable. I'm going to go back to the day if I may. Katie, You've got three hundred and eighty names in the s and P five hundred higher for the session, one hundred and twenty to the downside, three unchanged.
If you take a look at the circle, it is fascinating today because you have all of the screen on the screen, and then you take a look at information technology as a sector was actually lower by about six tenths of a percent. What a tug of war was going on in that slice of the pie because you had Broadcomamd, Qualcom, Apple, et cetera really trying to push the sector higher. But then on the downside Nvidia and
Microsoft just too big to or overcome Oracle as well. Carol, Definitely a really interesting sector performance today.
All right, guys, we've got some earnings crossing the Bloomberg. Let's go to Rivian out with its numbers first quarter production two hundred and thirty six vehicles.
That's a little bit light.
The street was looking for a number more like ten thy three hundred and eleven first quarter cash and cash equivalents. That too, is below what the street was forecasting. What the actual number was two point eighty five billion dollars. Street was looking guys for more like three point six billion. Right now, the stock just down a hair down about three tens of a percent. All right, as we wait for more earnings, Let's go to some of the top
gainers around the markets today. Qualcom a top gainer in the S and P and the Nasdaq one hundred. We got those earnings late yesterday and that stock was up fifteen percent in today's session, up the most in seven years. I believe that's at the close in intra day as well, rallying after the company said it was making headway in the lucrative data center market, and it also predicted that
the A phone industry would bounce back. This top high top I should say, a top hyperscaler on track to begin using Qualcomm's components later this year, and the company has become more optimistic about the market seeing AI data.
Centers as a major source of potential growth. We've got some more earnings remain. Yeah, let's get to Roku.
The shares up about ten percent in the after hours trade. Revenue in the most recent quarter coming in relatively inline with estimates at about one point two five billion dollars, but the guidance for the next quarter here you go. Net revenue for the second quarter one point three billion, the street was looking for one.
Point twenty nine, so kind of just on the nose they are.
Gross profit, though, is coming in slightly above estimates. The company anticipating five hundred and eighty million dollars for the second quarter. The street was looking for five sixty eight. A similar story for adjusted ebadah here and here's your full year revenue outlook. The company says expect about five point five billion dollars in revenue for the full year. That's pretty much on the nose of what the street was looking for for the year as well.
I mean, well, let's take a quick look at Rivian again. They just reported earnings. They're also coming out and saying their first quarter revenue came in at one point three eight billion dollars. That is just below the estimate of about one point three nine billion dollars first quarter vehicles delivered coming in at ten thousand, three hundred and sixty five. That is actually a little bit better than the estimate
for about ten thousand, two hundred and seventy nine. You can see that the shares lower by about one point one percent, and I mean rivian overall, Carol has been a really rocky story.
Yeah, absolutely, just bringing up on my Bloomberg stocks down about sixteen seventeen percent here today, But as you said, the story much more tricky. All right, Let's go back to some of the individual gainers I mentioned Qualcom. Alphabet of course, parent of Google, definitely an outperformer in today's session, top of the Nasdaq one hundred, up about ten percent in today's trade.
We've been talking about it.
I'm sure you guys have as well, this one leading gains among the mags seven. After last night's deluge of big tech earnings from Alphabet, Amazon, Met and Microsoft, the search giant reported high demand for its cloud and artificial intell Legen's products, which really was you know, the key thing is that they're spending, yes, indeed, but they're also showing some return on investment. So you saw some outperformance there,
and I just want to mention something different. Terradyne also an interesting trade where the stock was down about nineteen percent yesterday, investors moving back in up about twelve percent. Top of the S and P five hundred investors weighing in. Analysts weighing in JP Morgan upgrade the semiconductor manufacturing company to overweight from neutral against the drop yesterday. There were some other upgrades and some price target raises as well.
Tarradine did fall on some likely disappointing forecasts.
That was what we got from the company.
The selloff though from JP Morgan offers materially higher upside for the shares and a largely unchanged revenue trajectory in our expectations with moderation and revenues in the second have only reflective of the timing of programs and purchases rather than.
Changing the long term growth trajectory.
Basically, some upbeat thoughts, and you saw invest just coming back tim over to you.
Okay, I'm looking at shares IMAX in the after hours right now. First quarter revenue coming in above estimates at eighty one point four million dollars. First quarter adjusted Ebitduck coming in just below estimates at thirty point five million dollars. First quarter adjusted earnings per share coming in just above estimates. It's seventeen cents per share. First quarter adjusted earning earnings per share did beat estimates in terms of stock is unchanged in the after hours. That's IMAX for you.
No hang on, guys, can we go? I just want to take a quick look here at Western Digital ACTU. You're just crossing the wire. Remember this is the third best performance socket in the SMP five hundred more than one hundred and fifty percent. The share is now down in the after hours trade after the company reported net revenue that's relatively in line with estimates that about three point three four billion dollars. The street was looking for
three point two three. But the company does say is for the current quarter, the fiscal fourth quarter operating expenses will be a nudge higher three eighty five to three hundred and ninety five million dollars, and it does say though that gross margin will be in a range of
fifty one to fifty two percent. I'm sure the comparison there, but it does look like the street was guiding just a touch below that here, So that looks like that could be a beat, but you see the negative reaction there in the shares, all for the third best performing stock in the SMP this year.
All right, let's go on over to Roadblocks, also coming out with its numbers.
Let's get to the forecast.
The company sees fiscal year revenue a five point eighty seven billion to six point one four billion. It had seen six point zero two billion to six point twenty nine billion, so interesting in terms of the range. There sees fiscal year bookings seven point thirty three billion to seven point six billion. It had seen a number way above that at eight point two eight billion to eight point fifty five billion. You can see Roadblocks getting killed
in the aftermarket, down about twenty percent here. Also see second quarter bookings as we mentioned, one point fifty five billion to one point sixty one. The estimate was above that at almost one point nine First quarter daily active users one hundred and thirty two million, folks, That is also light. One hundred and forty three point eight million was what the street was looking for. Again, Katie, that's stocked down about twenty two percent after market.
All right, let's get on over to Reddit reporting right now, second quarter adjusted EBITA the forecast beating estimates here. They see that number coming in for the second quarter between two hundred and eighty five million to two hundred and ninety five million. The estimate had been for two hundred and seventy five point five million dollars. So you can
see that a little bit of a beat there. When it comes to the look behind though, first quarter daily active users coming in at one hundred one hundred two hundred, one hundred and twenty six Che's louis zero point eight million users. That is slightly above of the estimates there. But you can see through the stock taking a little bit of a dip lower rate now currently lower by about two percent.
All right, I'm going to at Lassian ticker TAM. Shares are surging in the after hours this after the company up twelve point two percent. The company reported third quarter revenue that beat estimates. As far as the outlook goes, fourth quarter revenue one point sixty five one point six six billion dollars. The estimu was for one point sixty six billion dollars. The beat on earnings, They beat on revenue. Let's look at third quarter revenue one point seven nine
billion dollars. The estimates for one point six nine billion dollars. Third quarter at just dps came in above estimates at one dollar and seventy five cents. Third quarter cloud revenue came in above estimates at one point one three billion, and it's that operating margin at thirty four percent where the estimate was for twenty seven point six percent. That also helping shares in the after hours up. Let's call that twelve percent.
All right, So that one is going higher at LASTI and SanDisk going in the other direction. After posting it's third quarter results. The company sees fourth quarter revenue, so this is the outlook. Sees fourth quarter revenue of seven point seventy five billion to eight point twenty five billion.
That seems to be a big beat here.
Just looking to see if there's any other headlines here, just starting to trickle out, and it does look like third quarter revenue that did beat the average analyst estimates, so we'll keep an eye on that one.
But definitely some movement, all right, guys.
That is a wrap the Stockmovers report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street, and for the latest market moving headlines, listen to Bloomberg Radio Live. Catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business App.