Qualcomm, PayPal and DXC Technology shares fall, and other movers

By MarketWatch

DoorDash shares were up 4% after the delivery app reported a slightly bigger second-quarter loss than expected but sales that beat estimates

Here are some of the biggest movers in Thursday's premarket action:

Stock gainers:

Upwork Inc.'s (UPWK) stock rallied more than 26% after the platform for freelancers narrowed its quarterly loss, swinging to an adjusted profit, and reported revenue above Wall Street expectations.

Shares of Clorox Co. (CLX) jumped more than 10% after the maker of eponymous cleaning products reported quarterly profit and sales well above Wall Street expectations and called for higher earnings and revenue for the year

Unity Software Inc. (U) shares rallied more than 2% after the app-monetization and game-engine company raised its annual forecast and posted a narrower-than-expected loss

SunRun Inc.'s (RUN) stock was up more than 17% after the solar-power company missed revenue expectations for the second quarter but delivered a surprise profit.

Shares of EVgo Inc.(EVGO) were up nearly 23% after the company, which runs a network of electric-vehicle charging stations, gave a more upbeat full-year sales outlook and reported second-quarter results that were better than expected.

DoorDash Inc. (DASH) shares were up 1.5%. The delivery app reported a slightly bigger second-quarter loss than expected but saw sales that beat estimates

Stock decliners:

DXC Technology Co.'s (DXC) stock fell more than 28% after the stock was downgraded to market perform at BMO Capital.

Shares of Expedia Group Inc. (EXPE) lost more than 14% after the travel-booking site reported second-quarter profit that was well above forecasts but revenue and bookings that rose less than expected.

Shares of Qualcomm Inc. (QCOM) dropped more than 10% after the chip maker tied revenue growth to recoveries in the smartphone market and China.

PayPal Holdings Inc.'s (PYPL) stock fell more than 10% after the payments company reported quarterly revenue slightly above Wall Street expectations but its credit business raised concerns.

Shares of Etsy Inc.(ETSY) lost almost 9% despite a headline beat for the online marketplace company

Lemonade Inc.'s(LMND) stock price soured, dropping more than 12% after the mobile-based insurance company cleared Wall Street expectations but succumbed after having rallied more than 60% year to date.

QuantumScape Corp.(QS) shares fell more than 15% after the solid-state battery maker said it planned a $300 million stock offering.

MGM Resorts International (MGM) shares fell more than 7% despite the casino and resort operator reporting second-quarter results that beat expectations, helped by the lifting of pandemic restrictions in global gaming hub Macau.

Robinhood Markets Inc.(HOOD) shares fell more than 7% after the stock-trading app reported revenue and profit that beat expectations but a drop in transaction sales and monthly active users.

American Superconductor Corp.'s(AMSC) stock fell more than 2%, continuing the pullback that saw it snap a five-day winning streak Wednesday.

-MarketWatch

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08-03-23 1032ET

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