AAPL, AMZN, INTC and more
Customers try on and learn about the Apple Vision Pro headset at an Apple store in Shanghai, China, on July 22, 2024.
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Consider the companies making headlines in extended trading:
Wisdom — Chip stocks fell 17%. Intel said it would suspend its dividend for the fourth fiscal quarter and It has announced plans to lay off employees. 15% of the company’s workforce. The news coincided with worse-than-expected quarterly results. Intel also shared disappointing guidance for the current quarter.
Amazon — Shares of the e-commerce giant fell 5% in extended trading. The company reported weaker-than-expected revenue in the second quarter and issued a disappointing forecast for the third quarter. Revenue in the company’s cloud division rose 19% in the second quarter, beat analysts’ estimatesHowever.
Apple — Shares of the iPhone maker rose slightly as the company beat analysts’ estimates for revenue and net income. Apple Q3 Financial Earnings Report was $1.40 a share while analysts polled by LSEG had expected $1.35 a share. Revenue came in at $85.78 billion, also beating Wall Street estimates.
Dash Door — Shares jumped nearly 14% after the online food delivery company reported better-than-expected revenue for the second quarter. DoorDash posted revenue of $2.63 billion, while analysts polled by LSEG estimated $2.54 billion. Management also raised its market-wide gross order value forecast for the third quarter.
Cryptocurrency — The cryptocurrency exchange operator saw its shares rise nearly 5% in extended trading. Revenue for the second quarter was $1.45 billion, slightly above estimates of $1.40 billion, according to LSEG.
Block — The fintech company jumped more than 7% on better-than-expected adjusted earnings in the second quarter. Block reported adjusted earnings of 93 cents per share, above the 84 cents per share expected, according to analysts surveyed by LSEG. Meanwhile, revenue of $6.16 billion missed analysts’ estimates of $6.28 billion.
Snapshot — The instant messaging app’s parent company fell 17%. Snap called for third-quarter adjusted earnings ranged from $70 million to $100 million, below the $110 million estimate from analysts polled by StreetAccount. Revenue in the most recent quarter fell short of Wall Street forecasts.
Roku — Shares jump more than 5% after Roku posts Q2 results beats expectations. The streaming device company posted a narrower-than-expected quarterly loss of 24 cents per share, better than the 43 cents per share loss expected by analysts polled by LSEG. Revenue of $968 million beat the consensus estimate of $938 million.
Clorox — Shares rose 4%. Clorox issued full-year earnings guidance of $6.55 to $6.80 per share, above analysts’ estimates of $6.45 per share, according to analysts polled by LSEG. Adjusted earnings for the fiscal fourth quarter were $1.82 per share, compared with the consensus estimate of $1.56 per share.
Coterra Energy — Shares fell 1.8% after Coterra Energy announced disappointing earnings results. Coterra reported adjusted earnings for the second quarter of 37 cents per share, below the FactSet consensus estimate of 39 cents per share.
Hold on dad — Shares rose 6% after the web hosting company raised its full-year revenue forecast. GoDaddy gave a full-year revenue forecast of $4.525 billion to $4.565 billion, while analysts polled by FactSet expected $4.53 billion.
– CNBC’s Sarah Min, Yun Li, Samantha Subin, Tanaya Macheel and Darla Mercado contributed reporting.
