March 4, 2024


A trader works on the First Republic Bank stock trading floor at the New York Stock Exchange (NYSE) on March 16, 2023.

Brendan McDermid | Reuters

Check out the companies making headlines ahead of Wednesday’s close.

same phase energy — Shares of the solar inverter company fell 16% after reporting disappointing second-quarter revenue guidance. The company said Tuesday that its upcoming quarter revenue will be between $700 million and $750 million, compared with analysts polled by StreetAccount expecting $765.2 million. Enphase reported adjusted EPS of $1.37 on revenue of $726 million, beating StreetAccount’s forecast of $1.21 per share on revenue of $724.4.competitor’s stock solar technology down 5.8%.

Boeing — Boeing shares rose 3.7% in premarket trading after the company reported its latest quarterly results and said it would ramp up production of the 737 Max later this year despite production issues. The company reported an adjusted loss of $1.27 per share on revenue of $17.92 billion. Analysts polled by Refinitiv expected a loss of $1.07 a share on revenue of $17.57 billion.

Activision Blizzard — Activision Blizzard shares fell about 10.4% in premarket trading after U.K. regulators blocked Microsoft’s takeover of the video game publisher. “The final decision to block the deal came after Microsoft’s proposed solutions failed to effectively address concerns in the cloud gaming sector,” the UK’s Competition and Markets Authority wrote.

first republic bank — Shares of battered regional banks fell 10% ahead of the market open, threatening to weigh on the broader banking sector again. First Republic reported on Monday that its first-quarter deposits fell 40% to $104.5 billion, and the stock lost nearly half its value on Tuesday.

PacWest Bancorp – Shares rose 14% in early trading after PacWest said deposits had flowed in over the past month. Deposits fell more than 16% to about $28.2 billion in the first quarter, the regional bank said, but have risen by about $1.8 billion since its last investor update on March 20. It saw $700 million in deposits in April. On Tuesday, PacWest also reported a net loss of $1.21 billion for the quarter, largely due to a goodwill impairment charge.regional bank western union bank It was also up ahead of the market open on Wednesday.

Microsoft — Shares rose 8 percent after Microsoft reported fiscal third-quarter results and issued quarterly guidance that topped expectations. The technology company reported earnings of $2.45 per share on revenue of $52.86 billion. Analysts polled by Refinitiv had forecast earnings of $2.23 a share on revenue of $51.02 billion. Additionally, Microsoft CFO Amy Hood issued fourth-quarter revenue guidance of $54.85 billion to $55.85 billion. The midpoint of the range was above the consensus estimate of $54.84 billion. Separately, Britain’s Competition and Markets Authority blocked Microsoft’s takeover of video game company Activision Blizzard on Wednesday, weighing on technology stocks.

letter – Alphabet shares were flat premarket even after Google’s parent company topped earnings and revenue estimates in its most recent quarter and announced a $70 billion share buyback program. Advertising revenue beat expectations but was down from a year ago.

Chipotle Mexican Grill — Shares of Chipotle Mexican Grill rose more than 7% in premarket trading after the burrito chain posted top and bottom results for its most recent quarter. The company benefited from strong same-store sales growth during the period and said foot traffic was up despite higher menu prices.

service now — Shares of the digital workflow company rose 3.1 percent after falling more than 6 percent during Tuesday’s session when Infosys announced a partnership with ServiceNow. ServiceNow will report its quarterly earnings after the close on Wednesday.

amazon — Shares of the e-commerce giant rose 2.8% in premarket trading. Amazon’s confidence came after tech-related giant Microsoft reported quarterly earnings that topped expectations. The company reported the numbers after the close on Thursday.

Thermo Fisher Scientific — Thermo Fisher Scientific shares down 3.9% Reports First Quarter Earnings This is as expected. The Massachusetts-based scientific instrument provider reported adjusted earnings of $5.03 per share, in line with StreetAccount’s estimate. Thermo Fisher Scientific did beat revenue estimates, reporting revenue of $10.71 billion, beating estimates of $10.65 billion.

Coinbase — Cryptocurrency exchanges rose 5% in pre-market trading, while cryptocurrency prices rose, including a 5% rise in bitcoin. HC Wainwright also initiated coverage on Coinbase with a buy rating and a $75 price target, implying a 34% upside from Tuesday’s close.

— CNBC’s Sarah Min, Samantha Subin, Alex Harring, Hakyung Kim, Yun Li and Michelle Fox Theobald contributed reporting.