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Pre-Open Movers: Walmart Gains Following Earnings Beat, Zoom Falls on Downgrade

August 16, 2022 8:42 AM EDT

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Pre-Open Stock Movers:

Ginkgo Bioworks (NYSE: DNA) 22% HIGHER; reported Q2 EPS of ($0.41), $0.36 worse than the analyst estimate of ($0.05). Revenue for the quarter came in at $145 million versus the consensus estimate of $78.83 million. Ginkgo Bioworks sees FY2022 revenue of $425-440 million, versus the consensus of $393 million.

Fabrinet (NYSE: FN) 13% HIGHER; reported Q4 EPS of $1.68, $0.14 better than the analyst estimate of $1.54. Revenue for the quarter came in at $587.9 million versus the consensus estimate of $581.48 million. Fabrinet sees Q1 2023 EPS of $1.72-$1.79, versus the consensus of $1.56. Fabrinet sees Q1 2023 revenue of $620-640 million, versus the consensus of $596 million.

Compass (NYSE: COMP) 11% LOWER; reported Q2 EPS of ($0.24), $0.07 worse than the analyst estimate of ($0.17). Revenue for the quarter came in at $2 billion versus the consensus estimate of $2.11 billion. Compass sees FY2022 revenue of $6.15-6.45 billion, versus the consensus of $7.6 billion.

Ally Financial Inc. (NYSE: ALLY) 7% HIGHER; Warren Buffett's Berkshire adds to the position.

ZipRecruiter (NYSE: ZIP) 5% LOWER; reported Q2 EPS of $0.11, $0.05 better than the analyst estimate of $0.06. Revenue for the quarter came in at $239.9 million versus the consensus estimate of $233.83 million. ZipRecruiter raises Q3 2022 revenue to $217-223 million, versus the consensus of $233.6 million. ZipRecruiter raises FY2022 revenue to $883-897 million, versus the consensus of $914.6 million.

Walmart (NYSE: WMT) 4% HIGHER; reported Q2 EPS of $1.77, $0.14 better than the analyst estimate of $1.63. Revenue for the quarter came in at $152.9 billion versus the consensus estimate of $150.93 billion. For the year, consolidated net sales growth is expected to be about 4.5%. Adjusted earnings per share are expected to decline 9.0% to 11.0%.

Target Corporation (NYSE: TGT) 3% HIGHER; gains following Walmart's results.

Zoom Video (NASDAQ: ZM) 3% LOWER; Citi downgraded from Neutral to Sell with a price target of $91

Coupang Inc (NYSE: CPNG) 2% LOWER; CLSA downgraded from Outperform (2) to Sell (5) with a price target of $16.40 (from $14.00).

Home Depot (NYSE: HD) 1% LOWER; reported Q2 EPS of $5.05, $0.11 better than the analyst estimate of $4.94. Revenue for the quarter came in at $43.8 billion versus the consensus estimate of $43.36 billion. The Company reaffirmed fiscal 2022 guidance.

PayPal (NASDAQ: PYPL) 1% HIGHER; Daiwa Securities upgraded from Outperform (3) to Buy (2) with a price target of $116.00 (from $85.00).

Tencent Music (NYSE: TME) 1% HIGHER; reported Q2 EPS of RMB0.63, RMB0.08 better than the analyst estimate of RMB0.55. Revenue for the quarter came in at RMB6.91 billion versus the consensus estimate of RMB6.55 billion.

Costco Wholesale (NASDAQ: COST) 1% HIGHER; gains after Walmart's results.



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