Watch WBD, MDB, ALB, and GILD
A quarterly earnings report sank shares of Warner Bros. Discovery (WBD) last week. WBD stock had rallied from a sub-$8.00 low in April to nearly $14.00.
WBD stock closed at $10.91 on August 8, down by 15.23% in the week. The media firm reported a 1.0% Y/Y increase in revenue, to $9.81 billion. Q2 GAAP earnings per share were $0.63. It added $700 million in free cash flow, offset by $250 million in separation-related items. The $50 billion debt has fallen to $30 billion since its spin-off.
MongoDB (MDB) topped $250 recently before testing the $210 support level. BMO Capital Markets rated the stock an outperform on July 28. More AI workloads are moving to production. This would support its database growth.
Lithium miner Albemarle (ALB) is forming a wide trading range between $65 and $80. On July 31, the firm posted net sales of $1.3 billion. Capital expenditures will fall to a range of $650 million to $700 million. This is down by 60% Y/Y. Positive free cash flow is sustainable with lithium prices at $9 per kg.
Pharmaceutical firm Gilead Sciences (GILD) jumped by $10/share after posting Q2 results. It earned $2.01 per share non-GAAP. The Board authorized a new $6.0 billion stock buyback program. This sets a floor on GILD stock.
