AMC — Shares jumped 4% after the entertainment company reported its “strongest first quarter in two full years” as consumers return to movie theaters. AMC beat on revenues with $785.7 million, as compared with the $743 million expected by analysts polled by Refinitiv.
Novavax — Shares dropped more than 10% after the biotech company reported an earnings miss. Novavax reported adjusted earnings of $2.56 per share on revenue of $704 million. Analysts polled by Refinitiv were expecting earnings of $2.69 per share on revenue of $845 million. Still, Novavax reported its first profitable quarter from a global vaccine rollout.
Upstart — Shares tumbled 39% after the artificial intelligence company reported earnings. Upstart revenue of $310 million topped expectations. Analysts were expecting a quarterly profit of 51 cents per share on revenues of $300 million, according to consensus estimates from Refinitiv.