Qualcomm and PayPal shares fall after earnings, and other movers

Here are some of the biggest movers in Thursday’s premarket action:

Stock gainers:

Upwork Inc.‘s
stock rallied 18% after the platform for freelancers narrowed its quarterly loss, swinging to an adjusted profit, and reported revenue above Wall Street expectations.

Shares of Clorox Co.
jumped nearly 6% after the maker of eponymous cleaning products reported quarterly profit and sales well above Wall Street expectations and called for higher earnings and revenue for the year as well.

Unity Software Inc. shares
rallied more than 5% after the app-monetization and game-engine company raised its annual forecast and posted a narrower-than-expected loss.

SunRun Inc.‘s stock
was up 7% after the solar-power company missed revenue expectations for the second quarter but delivered a surprise profit.

Shares of EVgo Inc.
  jumped 15% after the company, which runs a network of electric-vehicle charging stations, gave a more upbeat full-year sales outlook and reported second-quarter results that were better than expected.

DoorDash Inc.
shares were up 4.4%. The delivery app reported a slightly bigger second-quarter loss than expected but sales that beat estimates.

Stock decliners:

Shares of Qualcomm Inc.
dropped more than 8% after the chip maker tied revenue growth to recoveries in the smartphone market and China.

PayPal Holdings Inc. stock
fell 8% after the payments company reported quarterly revenue slightly above Wall Street expectations but its credit business raised concerns.

Shares of Etsy Inc.
lost 9% despite a headline beat for the online marketplace company.

Lemonade Inc.’s
stock price soured, dropping more than 6% after the mobile-based insurance company cleared Wall Street expectations but succumbed having rallied more than 60% year to date.

QuantumScape Corp.
shares fell 10% after the solid-state battery maker said it planned a $300 million stock offering.

MGM Resorts International 
shares fell nearly 7% despite the casino and resort operator reporting second-quarter results that beat expectations, helped by the lifting of pandemic restrictions in global gaming hub Macau.

Robinhood Markets Inc.
shares fell 6% after the stock-trading app reported revenue and profit that beat expectations but a drop in transaction sales and monthly active users.

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