After-hours stocks with the largest gains: Apple, Amazon, Intel, Snap and others
Check out the companies making headlines in extended trading:
Despite beating analysts' estimates on both the top and bottom lines, Apple's shares dropped nearly 2% in the fiscal third quarter. The company reported earnings of $1.40 per share, while analysts predicted $1.35 per share. Additionally, revenue came in at $85.78 billion, exceeding the Street's estimates.
Intel announced it would suspend its dividend and lay off 15% of its workforce, coinciding with worse-than-expected quarterly results and disappointing guidance for the current quarter.
Despite a 19% increase in revenue in its cloud division, the e-commerce giant's shares dropped 5% in extended trading after the company reported weaker-than-expected revenue for the second quarter and issued a disappointing forecast for the third quarter.
Nearly 14% shares surged after DoorDash reported a revenue beat in the second quarter, with $2.63 billion in revenue compared to analysts' estimates of $2.54 billion. Additionally, management raised the marketplace gross order value forecast for the third quarter.
In extended trading, the crypto exchange operator's shares increased by almost 5%. Despite predictions of $1.40 billion in revenue for the second quarter, LSEG reported $1.45 billion in revenue.
The fintech company experienced a more than 7% increase in stock price after reporting better-than-expected adjusted earnings in the second quarter. Specifically, Block reported adjusted earnings of 93 cents per share, exceeding analysts' expectations of 84 cents per share, as surveyed by LSEG. However, revenue of $6.16 billion fell short of analysts' estimates for $6.28 billion.
The instant messaging app's parent company experienced a 17% decline in earnings, with Snap forecasting third-quarter adjusted earnings between $70 million and $100 million, falling short of the $110 million estimate from analysts polled by StreetAccount. Additionally, revenue for the latest quarter did not meet the Street's forecasts.
Roku's second-quarter results surpassed expectations, causing shares to rise more than 5%. The company posted a quarterly loss of 24 cents per share, narrower than the anticipated loss of 43 cents per share. Additionally, revenue of $968 million exceeded the $938 million consensus estimate.
Clorox's fiscal full-year earnings guidance was between $6.55 and $6.80 per share, exceeding analysts' expectations of $6.45 in earnings per share. The company's fiscal fourth-quarter adjusted earnings were $1.82 per share, while analysts predicted $1.56 per share.
Coterra Energy's disappointing earnings results caused shares to drop 1.8%. Despite reporting adjusted second-quarter earnings of 37 cents per share, this was below the FactSet consensus estimate of 39 cents in earnings per share.
After raising its full-year revenue guidance, GoDaddy's shares jumped 6%. The company expects revenue between $4.525 billion and $4.565 billion, while analysts had predicted $4.53 billion.
The reporting for CNBC was done by Sarah Min, Yun Li, Samantha Subin, Tanaya Macheel, and Darla Mercado.
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