Stocks making the biggest moves after hours: Apple, Starbucks, AMD and more

Finance

Customers look at Apple’s new iPhone 11 series smartphones at an Apple retail store at the IFC Mall in Pudong New Area, Shanghai.

Alex Tai | SOPA Images | LightRocket | Getty Images

Take a look at the companies making headlines after the bell.

Apple – Apple stock rose 2.5% after it reported strong fourth-quarter results that beat analysts’ estimates on the top and bottom line. The results were powered by iPhone revenue and Apple’s service businesses like Apple TV+ and iCloud. The company reported earnings of $4.99 per share on revenue of $91.82 billion, while analysts expected earnings of $4.55 per share on revenue of $88.50 billion, according to Refinitiv.

Starbucks – Shares of the coffee giant dropped more than 1% after the company announced the closures of all cafes and deliveries for locations in the Hubei province, where the coronavirus originated. The company beat earnings estimates by 3 cents per share excluding some items, reporting quarterly profit of 79 cents per share. Revenue came in slightly below Wall Street forecasts, according to Refinitiv.

eBay – Shares of the e-commerce giant dropped more than 5% in extended trading after the company reported strong fourth-quarter earnings but offered weak first-quarter revenue guidance. The company reported earnings of 81 cents per share excluding certain items on revenue of $2.82 billion, while analysts expected earnings of 76 cents per share on revenue of $2.81 billion, according to Refinitiv.

Advanced Micro Devices – The semiconductor company stock dropped more than 4% in extended trading after the company reported strong fourth-quarter earnings but offered weak first-quarter revenue guidance. The company reported a quarterly profit of 32 cents per share excluding certain items compared to a consensus estimate of 31 cents a share, according to Refinitiv. Fourth-quarter revenue beat Wall Street analyst estimates.

Xilinx – The semiconductor manufacturing company’s shares slipped nearly 10% in extended trading after the company missed third-quarter revenue estimates and provided weak fourth-quarter revenue guidance that fell below the consensus. While Xilinx beat analyst expectations for earnings in the third quarter by 9 cents per share, third-quarter revenue of $723 million fell below the $731 million that analysts expected, according to Refinitiv. In the fourth quarter, the company expects to have revenue of $750 million-$780 million, while analysts expected $825 million. Xilinx also announced the expected reduction of its global workforce by 7% as part of an effort to reduce operating expenses, according to the release.

Alaska Air – Shares of the airline dropped and then returned to around the closing price of $65.54 in extended trading after the company reported earnings and raised its quarterly dividend by 7%. Alaska Air reported a fourth-quarter profit of $1.46 per share excluding certain items, compared to a consensus EPS estimate of $1.41, according to Refinitiv. Revenue came in slightly above Wall Street forecasts.

Products You May Like

Articles You May Like

Cramer says the stock market is too optimistic about an economic recovery — ‘it’s just not going to work like that’
Elon Musk on his success: ‘America is the land of opportunity – there is no other country where I could have done this’
Why A Million-Mile Battery Means Teslas Could Last A Lifetime
Pandemic will drive major changes to the nursing home industry
Power to the people: Tesla mega-battery goes online

Leave a Reply

Your email address will not be published. Required fields are marked *