Top premarket stock movers: HSY, META, ARM, SHAK

Welcome to Extreme Investor Network, where we bring you the latest news and insights in the world of finance. Today, we are taking a look at the companies making headlines in premarket trading.

Hershey, the chocolate maker, saw its shares down 7% in the premarket after posting second-quarter results that missed analyst expectations. The company cited consumer pullback on discretionary spending as a key factor.

On the other hand, Amazon’s stock was up roughly 2% ahead of its second-quarter results, with analysts forecasting earnings per share of $1.03 on $148.6 billion in revenue. Etsy, the e-commerce stock, dipped more than 1% after posting mixed quarterly results.

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Shake Shack, the burger restaurant chain, reported revenue of $316 million for the second quarter, beating estimates and raising the lower end of its full-year revenue guidance. Tech giant Meta saw shares surge nearly 8% after beating second-quarter estimates and issuing a better-than-expected forecast.

Moderna, the drugmaker, experienced a nearly 11% drop in shares after cutting its full-year sales guidance, citing competition for respiratory vaccines in the U.S. Arm Holdings, the chipmaker, also saw a decline of more than 9% after a disappointing earnings forecast.

Teladoc, the telehealth company, pulled back more than 19% after second-quarter revenue missed estimates and declined to provide a full-year outlook. Ferrari, the luxury sports vehicle company, gained more than 4% after beating second-quarter earnings and revenue estimates.

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MGM Resorts, the casino operator, declined 3% despite posting second-quarter results that beat expectations. C.H. Robinson, the logistics company, saw a climb of more than 10% on better-than-expected earnings for the second quarter.

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