Check out the companies making the biggest moves in pre-market trading: Shake Shack — Shares fell 17% after the burger chain reported weaker-than-expected first-quarter results and an operating loss of $2.6 million. Shake Shack broke even, compared to the 12 cents expected by analysts surveyed by LSEG. Revenue was $366.7 million, compared to the consensus estimate of $372 million. McDonald’s — The fast-food chain posted strong results in both sales and bottom line, and its stock price rose nearly 3.2%. Adjusted earnings were $2.83 per share, compared with analyst estimates compiled by LSEG of $2.74 per share. Revenue came in at $6.52 billion, compared to the consensus estimate of $6.47 billion. Whirlpool — The consumer electronics maker posted an 18% loss after lowering its full-year earnings forecast. Whirlpool now expects adjusted earnings to be between $3 and $3.50 per share on revenue of approximately $15 billion. The company had previously targeted $6 per share, or $15.3 billion to $15.6 billion. The company also said in a regulatory filing that “consumer confidence collapsed in late February and March, and the Iran war caused recession-level declines in the U.S. industry.” Shell — The British energy company’s U.S.-listed shares fell 1.8%. Shell reported better-than-expected first-quarter profits and cut its quarterly share buyback pace from $3.5 billion to $3 billion. Oil prices, which soared during the Iran conflict, have fallen below $100. Carlyle Group — The private equity firm fell 3.5% after reporting first-quarter distributable earnings per share after tax of 89 cents, below the FactSet consensus estimate of 93 cents. Carlyle also saw sales decrease compared to the previous year. Tapestry — Coach parent company’s third-quarter results beat Wall Street expectations, sending shares up 3%. LSEG’s adjusted earnings were $1.66 per share, compared to the consensus estimate of $1.30 per share. Sales of $1.92 billion exceeded analysts’ expectations of $179 million. ARM Holdings — The semiconductor company posted fourth-quarter adjusted earnings of 60 cents on revenue of $1.49 billion. Analysts surveyed by LSEG had expected earnings of 58 cents and revenue of $1.47 billion. The stock fell 8.6% after initially soaring in after-hours trading. DoorDash — Shares soared 10% after the food delivery giant released rosy guidance for second-quarter orders. DoorDash sees total market order value in the range of $32.4 billion to $33.4 billion, while analysts were looking for $32.43 billion. First-quarter earnings were 42 cents per share, beating analysts’ estimates of 36 cents per share compiled by LSEG. Zillow Group — The real estate market fell 5.5% as first-quarter housing revenue of $450 million fell short of StreetAccount estimates of $454.2 million. However, the company outperformed overall in both sales and bottom line for the quarter. Fortinet — Cybersecurity stock rose 15%. Fortinet raised its full-year billing guidance to a range of $8.8 billion to $9.1 billion, up from its previous estimate of $8.4 billion to $8.6 billion. Full-year earnings and revenue guidance exceeded LSEG’s consensus estimates. IonQ — Stock price fell more than 8%. The quantum computing company announced an adjusted loss before interest, taxes, depreciation and amortization of $96.8 million in the first quarter. That amount is larger than the $80.4 million loss that analysts surveyed by FactSet had been looking for. Snap — The social media platform’s stock fell 8%. Snap gave a cautious outlook for second-quarter revenue in the range of $1.52 billion to $1.55 billion. The midpoint of the range is roughly in line with analysts’ expectations of $1.54 billion. Snap also said it no longer has a contract with Perplexity, a generative artificial intelligence startup. Fastly — The cloud platform provider plunged nearly 26% as its guidance appeared to fall short of Wall Street’s expectations. Fastly expects second-quarter earnings to be between 5 cents and 8 cents per share, while LSEG’s consensus call is 4 cents. Revenue is expected to be in the range of $170 million to $176 million, compared with the $170 million expected by analysts. Separately, first-quarter results exceeded expectations for both sales and bottom line. ALBEMARLE — The specialty chemicals maker’s stock rose 7%. First-quarter adjusted earnings beat Street estimates, coming in at $2.95 per share, compared with analysts’ expectations of $1.19 per share, according to FactSet. Sales also exceeded expectations, coming in at $1.43 billion versus the expected $1.34 billion. Adjusted EBITDA also exceeded expectations, coming in at $663.8 million versus $443.7 million. Akamai Technologies — The cybersecurity and cloud computing company fell nearly 6%. Akamai is expected to report after the close of trading on Thursday. The stock continued to rise leading up to the earnings release, and on Wednesday it rose for six straight sessions, hitting a new 52-week high. Planet Fitness — The gym chain lowered its full-year outlook due to lower-than-expected enrollment, resulting in a 14% drop. EPS growth is now expected to be 4% year over year, down from previous guidance of 9% to 10%. The company expects sales to increase 7% year-over-year, compared with its previous outlook of 8%. However, first quarter results exceeded expectations. Papa John’s International — The pizza chain’s first-quarter results were less than expected, with adjusted earnings of 32 cents per share on revenue of $478.6 million. Analysts polled by FactSet had expected earnings of 37 cents per share and revenue of $485.5 million. The stock price fell 3%. Warby Parker — The eyewear maker’s first-quarter sales of $242 million beat analysts’ estimates of $239 million, up nearly 9%, according to LSEG. However, earnings per share were 3 cents, missing the consensus estimate of 11 cents. Peloton Interactive — Shares rose 3.8% after Peloton Interactive reported third-quarter revenue of $630.9 million. That beat the $618.3 million expected by analysts surveyed by FactSet. Meanwhile, quarterly adjusted EBITDA was $126.2 million, below expectations of $128.3 million. CNBC’s Sarah Min and Alex Harring contributed reporting.
