Pre-Open Movers: Snap Down on Results, Lack of Guidance; Hospitals Tenet, HCA Jump

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Snap (NYSE:SNAP) 33% LOWER; reported Q2 EPS of ($0.02), versus the analyst estimate of ($0.20). Revenue for the quarter came in at $1.11 billion versus the consensus estimate of $1.15 billion. DAUs were 347 million in Q2 2022, an increase of 54 million, or 18%, year-over-year. Given uncertainties related to the operating environment, we are not providing our expectations for revenue or adjusted EBITDA for the third quarter of 2022.

Tenet Healthcare (NYSE:THC) 15% HIGHER; reported Q2 EPS of $1.50, $0.87 better than the analyst estimate of $0.63. Revenue for the quarter came in at $4.64 billion versus the consensus estimate of $4.83 billion. Tenet Healthcare sees Q3 2022 revenue of $4.7-4.9 billion, versus the consensus of $4.92 billion. Tenet Healthcare sees FY2022 revenue of $19-19.4 billion, versus the consensus of $19.74 billion. Reaffirms adjusted EBITDA outlook.

HCA Holdings (NYSE:HCA) 14% HIGHER; reported Q2 EPS of $3.90, $0.19 better than the analyst estimate of $3.71. Revenue for the quarter came in at $14.82 billion versus the consensus estimate of $14.71 billion.

Intuitive Surgical (NASDAQ:ISRG) 13% LOWER; reported Q2 EPS of $1.14, $0.06 worse than the analyst estimate of $1.20. Revenue for the quarter came in at $1.52 billion versus the consensus estimate of $1.56 billion.

Seagate Technology (NASDAQ:STX10% LOWER; reported Q4 EPS of $1.59, $0.31 worse than the analyst estimate of $1.90. Revenue for the quarter came in at $2.63 billion versus the consensus estimate of $2.8 billion. Seagate Technology sees Q1 2023 EPS of $1.20-$1.60, versus the consensus of $2.27. Seagate Technology sees Q1 2023 revenue of $2.35-2.65 billion, versus the consensus of $3.03 billion.

Corsair Gaming Inc (NASDAQ:CRSR10% LOWER; preliminary second-quarter revenue was below the consensus.

Boston Beer Co. (NYSE:SAM) 8% LOWER; reported Q2 EPS of $4.31, $0.48 worse than the analyst estimate of $4.79. Revenue for the quarter came in at $655 million versus the consensus estimate of $628.99 million. Boston Beer Co. sees FY2022 EPS of $6.00-$11.00, versus the consensus of $11.67.

The Trade Desk, Inc. (NASDAQ:TTD) 7% LOWER; lower on SNAP’s results, lack of guidance.

American Express (NYSE:AXP) 6% HIGHER; reported Q2 EPS of $2.57, $0.16 better than the analyst estimate of $2.41. Revenue for the quarter came in at $13.4 billion versus the consensus estimate of $12.49 billion. American Express sees FY2022 EPS of $9.25-$9.65, versus the consensus of $9.83.

Pinterest, Inc. (NYSE:PINS) 6% LOWER; lower on SNAP’s results, lack of guidance.

Meta Platforms, Inc. 5% LOWER; lower on SNAP’s results, lack of guidance.

Capital One Financial (NYSE:COF) 5% LOWER; reported Q2 EPS of $4.96, $0.14 worse than the analyst estimate of $5.10. Revenue for the quarter came in at $8.2 billion versus the consensus estimate of $8.3 billion.

Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH) 4% HIGHER; announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) adopted a positive opinion recommending voclosporin (brand name, LUPKYNIS) for marketing authorization to treat adults with active lupus nephritis (LN), a serious complication of systemic lupus erythematosus (SLE).

Alphabet Inc. (NASDAQ:GOOGL) 3% LOWER; lower on SNAP’s results, lack of guidance.

Twitter, Inc. (NYSE:TWTR) 2% LOWER; Twitter reported Q2 EPS of ($0.08), $0.23 worse than the analyst estimate of $0.15. Revenue for the quarter came in at $1.18 billion versus the consensus estimate of $1.33 billion.

Mattel (NASDAQ:MAT) 2% LOWER; reported Q2 EPS of $0.18, $0.12 better than the analyst estimate of $0.06. Revenue for the quarter came in at $1.24 billion versus the consensus estimate of $1.1 billion. Mattel sees FY2022 EPS of $1.42-$1.48, versus the consensus of $1.48.

AT&T Inc. (NYSE:T) 1% LOWER; downgraded at Barclays.