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3 Stocks to Watch on Thursday: Buffalo Wild Wings (BWLD), Gilead Sciences, Inc. (GILD) and PayPal Holdings Inc (PYPL)

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Large-cap stocks had a broad up day on Wednesday that sent the three major blue-chip indices to all-time highs. The S&P 500 Index gained a fraction, the Dow Jones Industrial Average surged 0.5% and the Nasdaq Composite wafted up 0.2%, all of them marking new heights.

The second-quarter earnings season continues, with a number of stocks on the move following their most recent financial releases. Jumping into the spotlight this morning (among others) are Buffalo Wild Wings (NASDAQ: BWLD ), Gilead Sciences, Inc. (NASDAQ: GILD ) and PayPal Holdings Inc (NASDAQ: PYPL ).

Here's how they're performing as Thursday's trading comes close to getting underway:

Buffalo Wild Wings (BWLD)

BWLD shares are plunging on Thursday after the company posted a weak Q2 result.

"Historically high" costs for chicken wings weighed heavily on earnings, which dropped 63% year-over-year to $8.8 million. On an adjusted basis, profits of 66 cents per share were a country mile short of analysts' expectations for $1.05.

Revenues were soft too, however, with the top-line figure of $500 million coming in about $13 million short of the pros' estimates. Sales were better by 2% year-over-year, though comparable-store sales fell 1.2%.

"Our profitability was pressured this quarter driven by historically high wing costs, a mix shift to our promotional days, lower than expected same-store sales, and higher operating expenses," said Sally Smith, the current CEO of the restaurant chain - for now. Smith last month announced plans to step down by the end of 2017.

For the fiscal year, Buffalo Wild Wings now forecasts adjusted earnings of $4.50 to $5 per share, down from the previous outlook $5.45 to $5.90 per share.

BWLD shares were already down more than 20% year-to-date, and the bleeding is on pace to continue this morning, with the stock down another 8%.

Gilead Sciences, Inc. (GILD)

GILD shares will tack on to their turnaround 2017 thanks to a Street-pleasing second-quarter report.

The biotechnology company raked in $7.14 billion in revenue - an 8.96% drop compared to the year-ago figure, but better than analysts' projections for $6.33 billion on the top line.

Profits of $3.37 billion, or $2.33 per share, were lower than the year-ago quarter's total by 24%. Adjusted earnings of $2.56 per share, however, were 27 cents higher than expectations.

Better still, Gilead's looking for full-year revenues in a range of $24 billion to $25.5 billion, putting the midpoint higher than Wall Street's guidance of $24.65 billion.

"Our strong performance in the second quarter was driven by a continuation of the positive trends in our non-HCV business and better than expected results from our HCV business, particularly in the U.S.," said CFO Robin Washington.

GILD shares were up just 3% year-to-date heading into Wednesday night's report, but have staged a roughly 15% rally since mid-June - a rally that should be extended by another 2% to 3% in Thursday's regular trade.

PayPal Holdings Inc (PYPL)

Lastly, PYPL is scratching out new all-time highs after the company posted its second-quarter earnings results following Wednesday's market close.

The online payment services provider posted profit of $411 million, or 34 cents per share, marking a 27.2% increase compared to the year-ago period. On an adjusted basis, PayPal's profits of 46 cents per share are better than Thomson Reuters-polled analysts' estimates of 43 cents.

Revenues of $3.14 billion also beat the Street, which was looking for $3.09 billion. The top line was better by 18.3% year-over-year, and helped out by mobile payment volume that improved by 50% YOY to $36 billion.

The company adjusted its earnings guidance for the full year, raising it to between $12.775 and $12.875 billion in revenue for the year. Giving the company's prospects a lift is a deal with Apple Inc. (NASDAQ: PYPL ) to allow customers to use PayPal to make iOS transactions.

PYPL stock has put up a nearly 50% rally so far in 2017, and that figure will climb a little higher if Thursday's premarket gains of about 2% hold.

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The post 3 Stocks to Watch on Thursday: Buffalo Wild Wings (BWLD), Gilead Sciences, Inc. (GILD) and PayPal Holdings Inc (PYPL) appeared first on InvestorPlace .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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