WeWork — Shares plunged 35.5% following a report in the Wall Street Journal that the shared workspace company is planning to file for Chapter 11 bankruptcy protection as soon as next week.
Advanced Micro Devices — The chipmaker dipped more than 1% after issuing softer-than-expected revenue guidance for the fourth quarter. However, it offered positive 2024 guidance for its data center GPU segment.
Ford, General Motors — The auto makers rose more than 1% each after Barclays upgraded each to overweight from equal weight, citing attractive valuations after October’s stock declines. “We believe the different pressures on the business have created ‘peak pain,’ yielding trading multiples at historical lows,” Barclays said.
CVS — Shares of the pharmacy chain amd owner of Aetna insurance fell 1.5% despite reporting an earnings and revenue beat for the third-quarter. However, medical benefit costs came in at 85.7% of premiums, 1% higher than estimates, which CVS said was driven by higher outpatient care and Medicare Advantage utilization.
Match Group — The dating service platforms owner shed 8.3% on weaker-than-estimated revenue guidance for the fourth quarter. Match forecast revenue between $855 million and $865 million, while analysts had expected $895 million according to LSEG, formerly known as Refinitiv.
Wayfair — The online furniture retailer tumbled 12% after third quarter revenue missed analyst expectations. Wayfair posted $2.94 billion in revenue, lower than the $2.98 billion estimate, according to consensus numbers from LSEG. An adjusted loss of 13 cents per share was narrower than an anticipated loss of 48 cents.
ZoomInfo Technologies — The sales and marketing technology platform shed 2.4% on the back of a Goldman Sachs downgrade to neutral from buy following third quarter earnings released Monday. ZoomInfo beat sales and earnings expectations of analysts polled by FactSet, but offered soft guidance for current quarter earnings and operating income.
Humana — Shares of the insurance company fell 2.8% after Humana lowered its full-year guidance for non-adjusted earnings per share. Humana’s third quarter adjusted earnings per share of $7.78 topped the Wall Street consensus estimate of $7.16, according to StreetAccount and it only reaffirmed full-year guidance for adjusted earnings per share despite the third-quarter beat.
Estee Lauder — The beauty products company dropped more than 14% after its earnings guidance for the current quarter and full fiscal-year came in far below analyst estimates. Estee Lauder also forecast revenue growth declining between 9% and 11% in the current quarter, while analysts polled by FactSet had expected a 2.2% increase.
Kraft Heinz Company — Shares of the ketchup maker added 1.5% after it raised its full-year earnings per share guidance, excluding one-time items. Kraft Heinz also reported higher-than-expected earnings per share of 72 cents in the third-quarter against analysts’ estimate of 66 cents, according to FactSet. Kraft Heinz also made several organizational and leadership changes
Paycom Software — Shares declined more than 36% after the company’s third-quarter revenue came in below estimates. Paycom posted $406.3 million in revenue for the period, while analysts had estimated $411.2 million, per FactSet. Meanwhile, Paycom’s earnings per share topped forecasts, coming in at $1.77, excluding items, while analysts had estimated $1.61.
Yum China Holdings — Shares of the China-based restaurant company lost more than 12% after third quarter revenue missed estimates. Yum reported $2.91 billion in revenue, while analysts had expected $3.06 billion in revenue, according to estimates from LSEG.
Caesars Entertainment – The gaming stock rose 5% before the bell after topping Wall Street’s third-quarter earnings expectations. Caesars posted earnings of 34 cents per share on $2.99 billion in revenue. That topped the EPS of 29 cents and revenue of $2.93 billion estimated by analysts polled by LSEG.
