Stocks Making the Biggest Moves Premarket: Meta, Teladoc, Pinterest, Qualcomm and More

Dado Ruvic | Reuters

Check out the companies making headlines in Thursday premarket trading.

Meta — Shares of the Facebook parent soared more than 16% in premarket trading after the tech company reported better-than-expected quarterly earnings. Daily active users, which declined in the fourth quarter for the first time, bounced back a bit and topped analysts' expectations, according to StreetAccount. The rally came despite a revenue miss. Shares were down 48% on the year heading into the results.

Teladoc — Teladoc's stock price cratered 43% after the telehealth company reported an earnings miss, as well as disappointing revenue guidance. Teladoc reported a loss of $41.58 per share and generated revenues of $565.4 million. Analysts surveyed by FactSet were expecting a loss of 60 cents per share, and revenues of $568.7 million.

McDonald's — Shares of the restaurant chain gained 2% in premarket trading after first quarter revenue came in higher than expected. McDonald's reported first quarter revenue of $5.67 billion versus the $5.59 billion expected by analysts, according to Refinitiv. The company saw same store sales growth of 3.5% in the U.S. and even higher in international markets.

Southwest Airlines — The airline stock rose more than 3% in premarket trading after the company delivered an optimistic outlook. Southwest said it expected its second quarter revenue to be up 8% to 12% from the same period in 2019, prior to the pandemic.  For the first quarter, the company reported a loss of 32 cents per share, slightly wider than the 30 cents expected by analysts, according to Refinitiv. First-quarter revenues came in slightly ahead of expectations.

PayPal — The payment's company saw shares rise 3.4% in early trading after it beat revenue estimates for the first quarter and posted a slight increase in payments volume. The stock price got a lift despite issuing weak guidance for the second quarter and full year.

Eli Lilly — The drug maker's shares gained 3.4% in premarket trading after the company reported results from a clinical trial showing its obesity drug tirzepatide helped patients lose up to 22.5% of their weight. Eli Lilly also reported better-than-expected earnings and revenue for the first quarter and boosted its full-year revenue guidance.

Pinterest — Shares for the image sharing company surged more than 8% on the back of better-than-expected earnings Wednesday. Pinterest reported adjusted earnings of 10 cents per share and revenues of $575 million. In comparison, analysts polled by Refinitiv expected earnings of 4 cents per share on revenues of $573 million.

Caterpillar — Shares of the global construction machine maker slid more than 1% despite Caterpillar beating top- and bottom-line estimates during the first quarter. The company earned $2.88 per share excluding items on $13.59 billion in revenue. Analysts were expecting the company to earn $2.60 per share on $13.4 billion in sales, according to estimates compiled by Refinitiv.

Qualcomm — Shares rallied roughly 7% premarket after a better-than-expected quarterly report. Qualcomm posted adjust earnings per share of $3.21 on revenue of $11.16 billion. Analysts were expected a profit of $2.95 per share on revenue of $10.63 billion, according to StreetAccount.

ServiceNow — ServiceNow shares jumped more than 8% following the company's first-quarter earnings report. The platform-as-a-service provider earned $1.73 per share on an adjusted basis and posted $1.72 billion in revenue. Wall Street was expecting $1.70 per share and $1.70 billion in revenue, according to data from StreetAccount.

— CNBC's Yun Li, Tanaya Macheel, Hannah Miao, Jesse Pound and Pippa Stevens contributed reporting.

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