Check out the companies making the biggest moves in pre-market trading: Microsoft — The tech giant soared 9% on quarterly revenue of $90.01 billion, beating expectations, according to LSEG. Azure’s growth rate was 43% in constant currencies, beating StreetAccount’s forecast of 40.2% growth. The company also announced that Azure revenue for fiscal year 2026 exceeded $100 billion for the first time. Meta Platforms — LSEG said its stock price fell nearly 9% after the company reported earnings per share of $6.18 for its most recent quarter, missing analysts’ expectations by $1.04 per share. The company also forecast third-quarter sales of $61 billion to $64 billion, lower than the $63.15 billion analysts expected. Teladoc Health — The virtual healthcare services company plunged 18.5% after second-quarter revenue fell short of expectations. Teledoc reported revenue of $606.9 million, compared to the $615.4 million expected by analysts surveyed by FactSet. The full-year earnings forecast has also been revised downward. Norwegian Cruise Line — The cruise line lowered its full-year forecast and its stock fell 7%. Norwegian Cruise Line now expects full-year earnings of $1.50 per share, compared with previous guidance of $1.45 to $1.79 per share. Analysts had expected EPS guidance of $1.66, according to FactSet. Bristol-Myers Squibb — Shares rose more than 1% after the biopharmaceutical company’s sales and bottom line growth. Bristol-Myers Squibb reported second-quarter adjusted earnings of $2.04 per share on revenue of $12.97 billion. Analyst estimates compiled by LSEG were for EPS of $1.59 and revenue of $11.75 billion. Starbucks — Shares rose 6% after the coffee retailer raised its full-year outlook and reported a 7.9% increase in same-store sales. LSEG said adjusted earnings were 85 cents per share, beating analysts’ expectations of 66 cents per share. Starbucks reported revenue of $9.32 billion for the quarter, compared to expectations of $9.16 billion. Carvana — Shares of the online used car retailer fell 10% after the company’s full-year profit outlook of $2.7 billion to $3 billion fell short of Wall Street expectations. Estimates included Deutsche Bank’s forecast of $3 billion to $3.2 billion and Morgan Stanley’s forecast of $4.45 billion. Chipotle Mexican Grill — The burrito chain’s stock rose 6% as the company’s quarterly profit showed growth in sales and bottom line. Chipotle also expects full-year same-store sales to increase in the low-single digits, which is above its previous outlook for flat same-store sales for the year. Fortinet — Cybersecurity stock soared 12% on strong second-quarter sales, beating analyst expectations. Fortinet earned 90 cents per share on adjusted revenue of $2.05 billion. Analysts surveyed by LSEG had expected earnings of 75 cents a share on $1.89 billion. The forecast for the third quarter also certainly exceeded Wall Street’s expectations. Lam Research — Shares of the semiconductor equipment maker rose nearly 9% after better-than-expected fourth-quarter results. Mr. Lamb’s profit, excluding items, was $1.82 per share on revenue of $6.72 billion. Qualcomm — The chipmaker’s stock fell more than 4% following mixed quarterly results. Adjusted earnings per share were $2.21, slightly below analysts’ expectations of $2.23 per share, LSEG said. Sales were $9.95 billion, exceeding expectations of $9.67 billion. Align Technology — Shares of the Invisalign maker fell nearly 4% after the company reported quarterly profit and revenue that slightly beat analysts’ expectations, according to FactSet. The lower end of the company’s third-quarter sales forecast of $1 billion to $1.02 billion was lower than the $1.02 billion expected by analysts. MarketAxess — Shares were suspended following news that the company would be acquired by Intercontinental Exchange, the parent company of the New York Stock Exchange, for $167 per share, valuing MarketAxess at more than $5 billion. The cash transaction represents a premium of approximately 33% to Wednesday’s closing price and is expected to close in the first half of 2027. Baxter International — The medical technology company soared about 14% after its latest financial results. Baxter’s adjusted earnings per share were 56 cents, beating the 37 cents expected by analysts polled by FactSet. Revenue came in at $2.96 billion, compared to the consensus estimate of $2.08 billion. The company also raised its full-year outlook for EPS and revenue growth. Cigna — The health insurance company fell nearly 4% after reporting its second-quarter earnings. Cigna had adjusted earnings of $7.78 per share on revenue of $71.67 billion. Analyst estimates compiled by LSEG were for EPS of $7.60 and revenue of $70.34 billion. The company raised its full-year adjusted EPS outlook by 10 cents, in line with expectations, according to FactSet. Anheuser-Busch InBev — The company’s U.S.-listed shares fell 3% even though the company reported better-than-expected second-quarter profits and sales. Anheuser-Busch’s margins were also “flat.” The stock price has increased nearly 33% this year. Altria — The tobacco giant suffered a 3% loss as its second-quarter adjusted earnings came in at $1.48 per share, below the FactSet consensus estimate of $1.50 per share. The company also increased its 2026 capital expenditures to $375 million to $450 million. Previously, the company expected capital investment to be between $300 million and $375 million. Sirius XM — Shares fell 12% after the satellite radio provider’s poor earnings. The company’s EPS was 70 cents, compared to the 78 cents expected by analysts surveyed by FactSet. —CNBC’s Tanaya Machel, Christina Cheddar-Berk and Ananya Chetia contributed reporting
