On this episode of Stock Movers:
- Caterpillar (CAT) share are higher this morning. The company said it expects to face slightly lower sales this year if tariffs continue and the economy dips into a recession in the second half. The guidance, in line with previous expectations, came as the heavy-equipment maker posted first-quarter earnings that fell short of analysts’ estimates. Excluding any impacts from tariffs, Caterpillar said it sees flat full-year sales compared with 2024.
- Starbucks (SBUX) shares are lower after receiving a wave of downgrades from Wall Street. Bernstein, Stifel, and TD Securities lowered its price target on the stock. Starbucks' same-store sales declined 1% in the quarter ended March 30, below the average estimate compiled by Bloomberg.
- Snapchat (SNAP) slipped as much as 14% in early trading after signaling a massive headwind warning when it comes to ad sales. Snap beat analysts' estimates for first-quarter revenue but declined to issue a sales forecast for the current period due to macroeconomic "headwinds" affecting its advertising business.
- Microsoft (MSFT) is virtually unchanged as it oscillates between positive and negative territory this morning ahead of its key earnings release later today.