Ryanair Holdings plc ( NASDAQ: RYAAY ) finds itself trading in the green early on as the stock gained ground on promising earnings results. On the other side of the fence, shares of Newmont Corporation ( NYSE: NEM ) and Dorman Products, Inc. ( NASDAQ: DORM ) both slipped on mixed Q2 earnings reports. Also headed lower is Philips ( NYSE: PHG ), as the stock announced that its Q2 sales have declined.
Gainer
Shares of Ryanair Holdings ( RYAAY ) took off 5.8% in premarket trading as the airliner delivered promising earnings results. RYAAY posted a return to profit for its first quarter of fiscal 2023 after the pandemic pressured its bottom line for several quarters.
Decliners
Newmont Corporation ( NEM ) sits lower by 3.6% on Monday morning as the company delivered mixed earning results . NEM missed on its Q2 Non-GAAP EPS but topped revenue forecasts. NEM reported Q2 Non-GAAP EPS of $0.46 which came up short by $0.15. NEM also provided revenue of $3.06B, surpassing its target by $20M.
Dorman Products, Inc. ( DORM ) trades lower by 2.4% after the auto repair parts firm provided investors with a mixed earnings report. DORM missed on Q2 Non-GAAP EPS but topped revenues . Q2 Non-GAAP EPS came in at $1.29 which was a miss by $0.02. DORM also beat expectations with regards to revenue by $16.83M.
Philips ( PHG ) finds itself trading in the red by nearly double digits, 9.2% . PHG is down after the company stated that its Q2 sales deteriorated amongst supply shortages and prolonged lockdowns in China. PHG’s Q2 comparable sales declined -7% Y/Y to €4.18B.
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Hot Stocks: RYAAY takes off on earnings, while NEM and DORM slide on mixed Q2 reports, PHG also declines