Stocks making the biggest moves premarket: Match Group, CVS, SolarEdge and more
Check out the companies making headlines before the bell on Wednesday.
CVS Health — Shares of the retail pharmacy giant rose 1.8% premarket after the company posted strong earnings and revenue for the second quarter. CVS reported earnings of $2.21 per share on revenue of $88.9 billion. Wall Street analysts expected $2.11 per share on earnings of $86.5 billion, according to Refinitiv.
Kraft Heinz — The food and beverage stock dipped 1% before the bell after reporting mixed quarterly results that fell short of Wall Street's revenue expectations. Kraft Heinz posted adjusted earnings of 79 cents a share, excluding items, on revenues of $6.72 billion.
Norwegian Cruise Line — The stock fell 3.2% in premarket trading after the company posted its earnings results on Tuesday, which indicated weaker-than-expected guidance for the third quarter. The cruise ship operator topped Wall Street's estimates, however. On Wednesday, Susquehanna downgraded its rating on Norwegian shares to neutral from positive. It maintained its price target of $17, which suggests a 12.4% downside from Tuesday's close.
SolarEdge Technologies — The solar stock fell 13.4% after the company missed revenue expectations in its second quarter, reporting $991 million compared to the expected $992 million from analysts polled by Refinitiv. The company beat earnings estimates, however, coming out higher than the $2.52 per-share estimate at an adjusted $2.62 per share.
Robinhood — Shares of the retail brokerage moved 2% lower ahead of quarterly results due after the closing bell. Analysts polled by FactSet are forecasting a small quarterly loss of 1 cent.
Freshworks — Shares of the software-as-a-service company popped more than 16% after Freshworks posted
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