SolarEdge Technologies Inc. (NASDAQ: SEDG) traded up by around 8.2%, at $269.00 in a 52-week range of $199.33 to $389.71. Like Enphase, SolarEdge makes components (primarily inverters) that convert the electricity generated by solar panels from DC to AC. Other solar companies riding Enphase’s earnings report Wednesday included solar installer Sunrun and module and panel maker First Solar.
Chipotle Mexican Grill Inc. (NYSE: CMG) traded up about 6.1% to $1,550.00, in a 52-week range of $1,256.27 to $1,958.55. Here is another company that reported results after markets closed Tuesday and that beat top-line and bottom-line expectations. The company also raised prices in December, which did little to boost fourth-quarter results but did set the company up to do it again if inflation continues.
Incyte Corp. (NASDAQ: INCY) traded down about 3%, at $68.00 in a 52-week range of $61.91 to $94.50. The stock dropped by nearly 4.5% on Tuesday following an earnings miss reported before markets opened. Wednesday morning, SVB Leerink downgraded the stock from Market Perform to Underperform and dropped the price target from $60 to $56.
CVS Health Corp. (NYSE: CVS) traded down about 0.8%, at $110.00 in a 52-week range of $68.02 to $111.25. The high was posted Tuesday. The company reported fourth-quarter results Wednesday morning that beat estimates and issued in-line guidance for fiscal 2022 earnings. What was holding the stock down is downside revision of $500 million to the low end of operating cash flow guidance.
Waste Management Inc. (NYSE: WM) traded down about 0.7% in Wednesday’s premarket, at $144.10 in a 52-week range of $109.11 to $168.04. The company had no specific news.
FMC Corp. (NYSE: FMC) traded down by about 1.1% to $109.98, in a 52-week range of $87.27 to $122.50. The ag sciences firm reported better-than-expected profit and revenue, and it announced a new $1 billion buyback program. First-quarter and fiscal 2022 guidance were in line with expectations, but maybe not good enough?
Exxon Mobil Corp. (NYSE: XOM) traded down about 0.7%, at $79.69 in a 52-week range of $48.78 to $83.08. Shares dropped more than 2.5% on Tuesday, and Wednesday’s premarket decline was a continuing reaction to the declining price of crude oil.
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