Stocks making the biggest moves after hours: Microsoft, Alphabet, Starbucks, AMD and more
Check out the companies making headlines in postmarket trading. Microsoft — The tech giant slipped 1% after releasing its quarterly results. Microsoft posted earnings of $2.93 per share on $62.02 billion in revenue. Analysts surveyed by LSEG, formerly known as Refinitiv, had expected earnings of $2.78 per share and revenue of $61.12 billion. Revenue from Azure and other cloud services rose 30% on a yearly basis. Tesla — Shares of the electric vehicle company fell nearly 2%. A Delaware judge agreed to void Tesla CEO Elon Musk’s $56 billion compensation package . The decision involves a lawsuit filed by Richard Tornetta, a Tesla shareholder. Electronic Arts — The stock declined 3.3% after its fiscal third-quarter revenue came in below estimates. EA reported $2.37 billion in revenue, while analysts had estimated $2.39 billion, according to LSEG. Alphabet — Shares fell around 5.8% on the company’s fourth-quarter results . Google ad revenue came in at $65.52 billion, short of analysts’ expectations for $65.94 billion, per StreetAccount. Separately, Alphabet posted a beat on top and bottom lines. Mondelez — The snack company slipped more than 3% after reporting higher-than-expected adjusted earnings and revenue that was in line with analysts’ forecasts, per LSEG. Meanwhile, organic growth and volume in the Asia and North America markets came in lower than expected. Starbucks — The coffee chain advanced 3% in extended trading. Starbucks CEO Laxman Narasimhan noted in a statement that the company’s brand is strong, even as it faces “headwinds.” Starbucks’ fiscal first-quarter adjusted earnings came in at 90 cents per share on revenue of $9.43 billion. This fell short of analysts’ expectations for 93 cents in earnings per share and revenue of $9.59 billion, per LSEG. Advanced Micro Devices — The chipmaker lost 4% following its fourth-quarter earnings. The company’s adjusted earnings were in line with estimates, while revenue came in slightly above expectations, according to LSEG. Revenue guidance for the first quarter came in lower than expectations. AMD said it expects $5.4 billion in revenue, versus estimates of $5.73 billion. Stryker — The medical tech company jumped 4%. Stryker reported adjusted earnings of $3.46 per share on revenue of $5.82 billion, while analysts called for $3.27 per share in earnings and $5.6 billion in revenue, per FactSet. The company also issued rosy guidance for the full year. Skyworks Solutions — The chip supplier rallied 3% on the back of its fiscal first-quarter results. Skyworks’ adjusted earnings per share beat estimates, while revenue came in line with expectations. CEO Liam Griffin said the company sees signs of recovery in the Android smartphone market. Powell Industries — The maker of electrical infrastructure equipment surged almost 13% after posting fiscal first-quarter earnings of $1.98 per diluted share versus 10 cents per diluted share a year ago. Revenue came in at $194 million, reflecting a 53% increase from a year earlier. Robert Half — The staffing agency slumped 9.5% postmarket after forecasting first quarter earnings of 54 cents to 68 cents per share versus analysts’ consensus estimate of 78 cents, FactSet said. Teradyne — The maker of electronic test equipment and robotics fell more than 6% after hours. First quarter guidance for earnings of 22 cents to 38 cents per share missed a FactSet consensus analyst estimate of 54 cents per share. It was also below the lowest estimate of 48 cents. The revenue outlook fell short of the lowest estimate. — CNBC’s Darla Mercado and Scott Schnipper contributed reporting. This post has been syndicated from a third-party source. View the original article here.
