Before the bell, see which firms are in the news.
Exxon Mobil: Amidst record production in Guyana and the Permian Basin, the energy giant revealed a better-than-expected profit for the second quarter. The $2.14 earnings per share above the LSEG prediction of $2.01 per share. Premarket trading saw a little increase in shares.
Intel — Due to lower-than-expected revenue and profitability for the second quarter, the company’s shares fell 20%. The corporation recently declared that as part of a $10 billion cost-cutting drive, it will be letting go of more than 15% of its workforce.
Snap: Due to unsatisfactory guidance, shares of the parent company of Snapchat fell 17%. Snap anticipates adjusted earnings for the third quarter of between $70 million and $100 million, as opposed to the $110 million StreetAccount projection.
Cloudflare: The IT company increased its full-year forecast, which caused shares to rise 7%. In contrast to its earlier guidance of 60 cents to 61 cents per share, the company now predicts full-year earnings in a range between 70 and 71 cents per share.
DoorDash: After the meal delivery service reported second-quarter sales of $2.63 billion, above the LSEG average of $2.54 billion, the shares rose 9%. DoorDash increased its marketplace gross order value projection for the third quarter.
Amazon: The online retailer’s stock dropped more than 8% as a result of quarterly earnings that were below expectations. The business stated lower-than-expected sales in the second quarter and provided a dismal prediction for the upcoming quarter. Though it exceeded experts’ expectations, revenue in its cloud sector climbed by 19% in the second quarter.
Block: After reporting second-quarter earnings that above expectations, the fintech business saw a gain of more than 3%. With adjusted earnings of 93 cents per share, Block outperformed the 84 cents per share LSEG average estimate. The $6.16 billion in revenue, however, fell short of the $6.28 billion experts had predicted.
Clorox: The stock of home products increased by 1.7%. Above the $6.45 per share LSEG prediction, Clorox released fiscal full-year earnings outlook in the range of $6.55 to $6.80 per share.
Apple’s stock increased by 0.3%. The company makes iPhones. In the fiscal third quarter, the company’s top and bottom lines exceeded the projections of analysts. Apple revealed its financial results.
Twilio — Twilio’s quarterly results exceeded both top and bottom line estimates, causing the cloud communications stock to rise 5%. On $1.08 billion in revenue, the company reported adjusted earnings of 87 cents per share for the second quarter.
Coinbase: The operator of cryptocurrency exchanges gained 1.3%. sales in the second quarter was $1.45 billion, marginally more than projected at $1.40 billion.
Booking Holdings: Despite a strong second quarter revenue and profitability report, the online travel company’s shares fell more than 5%. FactSet reports that booking forecast third-quarter adjusted EBITDA between $3.25 billion and $3.35 billion, compared to analysts’ estimates of $3.58 billion.
GoDaddy — After the web hosting provider raised its full-year outlook, shares climbed by almost 7%. GoDaddy provided sales estimate for the entire year of between $4.525 billion and $4.565 billion, although FactSet’s poll of experts predicted $4.53 billion.
Coterra Energy — Following Coterra Energy’s unsatisfactory earnings announcement, shares fell 1.5%. In the second quarter, the energy business reported adjusted earnings of 37 cents per share, which fell short of the 39 cents per share FactSet consensus expectation.
Roku — The streaming gadget maker gained 2.3% on its postmarket announcement of a 24 cent loss per share for the second quarter, which beat the 43 cent loss per share predicted by LSEG’s panel of experts. Revenue above the $938 million consensus projection, coming in at $968 million.
Atlassian — The software company’s stock fell further 12% or more following the release of ambiguous instructions. Atlassian projects fiscal first-quarter revenue between $1.149 billion and $1.157 billion, compared to $1.16 billion predicted by analysts LSEG polled. The guidance for full-year revenue growth was likewise less optimistic.
Microchip Technology: The stock of semiconductors dropped by 7%. While sales was in line with projections, adjusted profitability for the first quarter of the fiscal year exceeded analysts’ expectations.
Source (CNBC)
