Biggest stock movers today: Meta Platforms, Align Technology, Chipotle Mexican Grill and more
Erikona/iStock Unreleased via Getty Images
Despite the Federal Reserve raising its policy rate to its highest level in 22 years, stock futures climbed in premarket trading on Thursday. Chair Jay Powell maintained his cautious tone in his news conference, but said that Fed staff no longer forecasts a U.S. recession.
The Dow Jones Industrial Average closed higher on Wednesday after recording its thirteenth consecutive day of gains, matching its longest winning streak since January 1987.
Here are some of Thursday's biggest stock gainers and losers in premarket trading:
Biggest stock gainers

Meta Platforms (NASDAQ:META) is up 8% after posting better than expected Q2 results and strong operational metrics. In comparison to Google, whose ad revenue increased by only 3%, the company reported an ad revenue rise of 12%. The company expects Q3 total revenue to be in the range of $32 billion to $34.5 billion, above the consensus of $31.11 billion.
Align Technology (NASDAQ:ALGN) shares rose 15% after the company reported an upbeat Q2 and outlook. For 2023, the maker of Invisalign clear teeth aligners anticipates revenue in the range of $3.97 billion and $3.99 billion, vs. the consensus of $3.94 billion.For Q3, revenue is expected to come in between $990 million and $1.01 billion, vs. the consensus of $988 million.
The stock of Celestica (NYSE:CLS) increased by 27% after surpassing the consensus estimate in Q2. The company also increased its estimate for FY2023. As opposed to its prior expectation of at least $7.6 billion and consensus of $7.64 billion, it now anticipates sales of at least $7.85 billion. Non-IFRS adjusted EPS of $2.25 is also anticipated, in contrast to its previous outlook of between $2.00 and $2.05 and consensus of $2.03.

Biggest stock losers

Sunnova Energy's (NYSE:NOVA) stock declined by more than 7% following its Q2 earnings miss. The company raised its full-year guidance for customer additions to 135Kâ145K from its previous outlook of 125Kâ135K and reaffirmed adjusted EBITDA guidance of $235 millionâ$255 million.
Despite favorable Q2 earnings, shares of Impinj (NASDAQ:PI) fell 14% due to a disappointing Q3 outlook. The company forecasts Q3 revenue in the range of $63 million to $66 million, vs. consensus of $88.11 million, and Non-GAAP EPS of -$0.12 to -$0.06, vs. consensus of $0.38.
Chipotle Mexican Grill's (NYSE:CMG) stock dropped roughly 8% on mixed Q2 earnings. The fast-casual restaurant operator reported comparable sales that climbed 7.4% in Q2, falling slightly shy of the consensus figure of +7.7%. The comparable sales rate fell sequentially from +10.9% in Q1.

More on Markets

Fed Hikes By 25 Basis Points, To 5.5% Top Of Range, Highest Since 2001, More Rate Hikes On The Table QT Continues
Looking Past The Jobless Claims Noise