Alphabet, the tech giant, reported a beat on both top and bottom lines in the second quarter, earning $1.89 per share on $84.74 billion in revenue. However, the stock slipped 1% as revenue at its YouTube advertising segment missed forecasts.
Tesla
Shares of Tesla declined by 4.7% after second-quarter earnings missed consensus estimates. The company reported adjusted earnings per share at 52 cents, while analysts had called for 62 cents per share. Despite this, Tesla posted $25.5 billion in quarterly revenue, slightly higher than the $24.77 billion estimated by the Street.
Visa’s shares slipped more than 2% after the company posted a revenue miss in its fiscal third quarter. Visa reported $8.9 billion in revenue, slightly below the $8.92 billion forecast by analysts. However, payments volume rose 7% in the quarter.
Seagate
Seagate’s shares rallied more than 6% after posting an earnings and revenue beat in the fiscal fourth quarter. The company earned $1.05 per share, excluding items, on $1.89 billion in revenue. This was above analysts’ estimates of 75 cents per share on revenue of $1.87 billion.
Shares of Capital One Financial fell about 1% after its second-quarter profit fell from a year ago. Revenue rose 5% to $9.51 billion, but was lower than expected. The bank put aside more money to offset potential credit losses, impacting its performance.
Texas Instruments
The chipmaker rallied 5% after reporting better-than-expected earnings. Texas Instruments recorded $1.22 in earnings per share versus the consensus estimate of $1.17 per share. Its revenue of $3.82 billion came in line with forecasts, leading to a positive response from investors.
Mattel, the toymaker, advanced more than 1% after announcing its second-quarter results. Its adjusted earnings per share of 19 cents topped analysts’ estimates, while revenue of $1.08 billion slightly missed forecasts. Despite this, Mattel reiterated its full-year guidance and highlighted its gross margin expansion.
Shares of Cal-Maine Foods, the nation’s largest egg producer, fell 1% as the avian flu outbreak continues to pressure its performance. Earnings of $2.32 per share were higher than a year ago but shy of analyst predictions. Sales of $640.8 million also fell short of estimates, reflecting the ongoing challenges faced by the company.
Enphase Energy stock added 5% despite weaker-than-expected second-quarter results. The company posted earnings of 43 cents per share, after adjustments, which was below consensus estimates. Revenue of $304 million also fell short of analyst forecasts. However, shares rose on better-than-expected margins and a strong third-quarter revenue forecast.
The insurance company Chubb gained nearly 1% in extended trading, showing stability and resilience in the market.
Overall, the extended trading highlights in the stock market reflect a mix of positive and negative performances from various companies. Investors are closely monitoring earnings reports and revenue forecasts to make informed decisions about their investments. The volatility in the market underscores the importance of thorough research and analysis before making any significant financial decisions.