In morning trading on Wednesday, the Dow Jones industrials were down 0.12%, while the S&P 500 was up 0.34% and the Nasdaq 0.97% higher. On the inflation front, the Bureau of Labor Statistics reported that the year-over-year consumer price index rose 4.9% in April, slower than the 5% growth posted in March. Core CPI rose 5.5% year over year in April, less than the 5.6% growth reported in March.<\/p>\n
After U.S. markets closed on Tuesday, Affirm beat consensus estimates for earnings per share (EPS) and revenue. The company issued in-line guidance for the current quarter and upside guidance for the full 2023 fiscal year ending in June. Shares traded up 1.3% in the first hour of Wednesday\u2019s regular trading session.<\/p>\n
Airbnb also beat estimates on the top and bottom lines but issued a soft forecast for current quarter bookings. Shares traded down 11.4%.<\/p>\n
Luminar missed the consensus EPS estimate but topped the revenue consensus. The company issued in-line guidance, and shares traded down 3.7%.<\/p>\n
Occidental Petroleum missed estimates on both the top and bottom lines but raised pretax income guidance. Shares traded down 3.3%.<\/p>\n
Rivian reported a narrower loss but missed slightly on revenue. The company said it expects to report positive gross profit next year. Shares traded up 11.2%<\/p>\n
Before U.S. markets opened on Wednesday, Hecla Mining missed the consensus EPS estimate by 50% (one penny) but beat on revenue. The stock traded down 4.2%.<\/p>\n
Li Auto beat the consensus estimates on both the top and bottom lines and issued upside revenue guidance for the current quarter. Shares traded up 11.2%<\/p>\n
Roblox missed analysts\u2019 consensus EPS estimate but posted better-than-expected revenue. The company said it expects bookings to grow faster than infrastructure costs in the second half of this year and throughout 2024 and 2025. Shares traded up 6.2%.<\/p>\n
Robinhood and Unity Software are scheduled to report quarterly earnings after U.S. markets close on Wednesday. Disney reports results late Wednesday as well. The following morning, look for reports from\u00a0 Algonquin Power and JD.com.\n\t\t<\/p>\n
\nHere are previews of three companies scheduled to report quarterly results later on Thursday. No notable results are scheduled for release on Friday.<\/p>\n
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