Meta Platforms stock rallies on results, Southwest and Caterpillar shares fall, other stocks on the move

By Anviksha Patel and Tomi Kilgore

American Airlines', Teladoc's stocks rise, Mobileye shares fall after earnings

Here were some of the biggest stock movers on Thursday.

Gainers:

Shares of Meta Platforms Inc.(META) were trading up more than 14% in afternoon trading after the social media giant posted better-than-expected first quarter earnings and revenue.

Amazon.com Inc.'s stock (AMZN) climbed nearly 5% ahead of the ecommerce and cloud giant's results, which are expected after Thursday's closing bell. Analysts surveyed by FactSet anticipate the online retailer to post earnings of $0.21 per share with sales of $124.6 billion.

EBay Inc.'s stock (EBAY) rallied nearly 5% after the ecommerce company reported its quarterly results late Wednesday where it swung to a profit and met Wall Street expectations for sales.

American Airlines Group Inc. shares (AAL) advanced 1.6% after the air carrier reported the first first-quarter profit in four years that beat expectations, although revenue came up a bit shy.

Aerospace and defense company Honeywell International Inc.'s stock (HON) jumped over 3% following the company's report of quarterly adjusted per-share earnings and sales that beat estimates, and as it lifted its full-year guidance.

Comcast Corp.'s stock (CMCSA) shot up more than 8% after posting first-quarter earnings per share that beat estimates despite the broadcasting giant reporting a declining revenue of $29.7 billion from $31.0 billion in the same period last year and just above Wall Street expectations of $29.3 billion.

Teladoc health Inc. shares (TDOC) surged more than 5% after the telemedicine company topped expectations with its first-quarter results and delivered an outlook that was better than anticipated.

Losers:

Shares in Mobileye Global Inc. (MBLY) sank 23% after the autonomous-driving technology company slashed its full-year forecast due to "temporary" issues with the China market, it said.

Caterpillar Inc.'s stock (CAT) slumped 2%, to reverse and premarket gain, after the construction-equipment manufacturer reported a rise in net profit and revenue in the quarter, better than analysts expected, but continued to refrain from providing formal earnings guidance.

Southwest Airlines Co.'s stock (LUV) fell more than 5% after the airline company reported first-quarter earnings and revenue that missed analyst's expectations

Invisalign maker Align Technology Inc.'s stock (ALGN) took a 9.9% hit, enough to pace the S&P 500 index's decliners on the day, after the company reported first-quarter earnings that beat expectations, but provided a downbeat second-quarter outlook.

Shares in silicon-carbide chip maker Wolfspeed Inc. (WOLF) declined over 22% after it issued a forecast that projected a wider fiscal fourth-quarter adjusted loss than analyst's expected.

AbbVie Inc.'s stock (ABBV) took a 7.7% dive after the biopharmaceutical company missed first-quarter profit expectations, as some of its newer drugs missed their revenue targets while blockbuster Humira lost ground to biosimilars.

-Anviksha Patel

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

04-27-23 1329ET

Copyright (c) 2023 Dow Jones & Company, Inc.