Before you call, check out the companies that are making headlines. Boeing — Shares jumped 3% after Boeing reported a smaller-than-expected loss in its latest results. For the first quarter, the company reported an adjusted loss of $1.13 per share, better than the adjusted loss of $1.76 per share estimated in a survey of analysts by LSEG. Revenue of $16.57 billion topped expectations of $16.23 billion. Airbnb – The vacation rental platform gained nearly 2% after Mizuho switched to neutral. Mizuho noted a number of catalysts, including the potential launch of sponsored ads and growing demand from the Summer Olympics. The new $200 price target implies 24% upside. Biogen – Shares rose more than 6% in premarket trading after the drugmaker reported earnings of $3.67 per share, beating LSEG analysts’ estimates of $3.45 per share. The company cited its cost-cutting efforts and better-than-expected sales of its Alzheimer’s drug Leqembi. Tesla — Shares of the battered electric vehicle maker jumped 12% in premarket trading after CEO Elon Musk said Tesla plans to begin production of a new affordable electric vehicle model by early 2025. However, Tesla disappointed with its first-quarter earnings, posting a profit of 45 cents. adjusted earnings per share came in at $21.3 billion in revenue, while analysts polled by LSEG expected 51 cents in earnings per share and $22.15 billion in revenue. Tesla’s revenue drop – its steepest year-over-year decline since 2012 – comes as electric vehicle sales growth across the industry slows, forcing Tesla to cut prices in an attempt to stimulate demand. Visa — Shares of the payments company rose more than 2% after stronger-than-expected results for its fiscal second quarter. Visa earned an adjusted amount of $2.51 per share on revenue of $8.78 billion. Analysts surveyed by LSEG had forecast $2.44 per share on revenue of $8.63 billion. Revenue was up 10% from last year. Texas Instruments — Technology shares jumped 6.8% after beating first-quarter expectations. Texas Instruments posted $1.20 per share on revenue of $3.66 billion, beating analysts’ estimates of $1.07 billion and $3.61 billion, respectively, at LSEG. The company also provided ranges for its current quarter results that included analysts’ consensus estimates. Sea Limited – Shares of the Southeast Asian tech giant rose 3.2% after Loop Capital upgraded the stock to hold, saying the company is on track to “transition to sustainable profitable growth.” Mattel — The toy maker’s stock price rose 2.7% after its per-share loss was smaller than expected. Mattel said it lost 5 cents per share in the first quarter, less than the 12 cents expected by analysts polled by LSEG. Mattel posted revenue of $810 million for the quarter, below the consensus estimate of $832 million. Enphase Energy – Solar shares fell nearly 7% on falling earnings and pessimistic revenue forecasts for the current quarter. The company reported earnings of 35 cents per share on revenue of $263 million in the first quarter, compared with analysts’ expectations of 40 cents and $280 million, respectively. Enphase expects second-quarter revenue to be between $290 million and $330 million, according to LSEG. with a consensus estimate of $349 million. — CNBC’s Alex Harring, Samantha Subin, Jesse Pound, Brian Evans, Yun Lee, Sarah Min and Michelle Fox Theobald contributed reporting.
