A dog looks out the window from a Tesla electric car as it charges at a Tesla Supercharger on May 15, 2024 in Santa Monica, California.
Patrick T. Fallon | AFP | Getty Images
Let’s take a look at some of the companies that are garnering attention in extended trading.
alphabet — The tech giant fell 1% even though it beat expectations on both revenue and profit for the second quarter. Alphabet earned $1.89 a share on revenue of $84.74 billion. The consensus estimate was for earnings of $1.84 a share on revenue of $84.19 billion. But revenue from its YouTube advertising unit fell short of expectations.
Tesla — Shares of the electric car maker fell 4.7% after second-quarter profit fell short of expectations. Tesla reported adjusted earnings per share of 52 cents, compared with analysts surveyed by LSEG’s forecast of 62 cents per share. Meanwhile, the company posted quarterly sales of $25.5 billion, slightly beating the market’s expectations of $24.77 billion.
visa — Shares fell more than 2% after the company reported weaker-than-expected third-quarter earnings. Visa reported revenue of $8.9 billion, slightly below the $8.92 billion expected by analysts surveyed by LSEG, while payment volume grew 7% in the quarter.
Seagate — Seagate shares rose more than 6% after the company reported fourth-quarter profit and revenue that beat expectations. Seagate earned $1.05 a share, excluding overhead, on revenue of $1.89 billion. Analysts surveyed by LSEG had expected the company to earn 75 cents a share on revenue of $1.87 billion. The company blamed the strong performance on an improving cloud environment.
Capital One Financial — Shares in credit-card issuers fell about 1% after the company reported lower second-quarter profits than a year ago as banks set aside more capital to offset potential credit losses. Revenue rose 5% from a year ago to $9.51 billion but was below expectations of analysts surveyed by LSEG.
Texas Instruments — The chipmaker rose 5% after reporting better-than-expected profit. Texas Instruments posted earnings of $1.22 per share, beating the consensus estimate of $1.17 per share, according to LSEG. The company’s revenue of $3.82 billion was in line with expectations.
Mattel — The toy maker’s shares rose more than 1% after it reported second-quarter results. Adjusted earnings per share were 19 cents, beating analysts’ estimates of 17 cents, according to LSEG data. Revenue was $1.08 billion, slightly below expectations of $1.1 billion. Mattel reiterated its full-year outlook and highlighted gross margin expansion.
Cal-Maine Foods — Shares of the nation’s largest egg producer fell 1% as the avian flu outbreak continues to weigh on earnings. Fourth-quarter earnings per share of $2.32 rose from a year ago but fell short of analysts’ expectations of $2.41, according to FactSet. Revenue of $640.8 million also fell short of expectations of $652.3 million.
Enphase Energy — Solar stocks rose 5% despite weaker-than-expected second-quarter results. Enphase reported adjusted earnings per share of 43 cents, missing the consensus estimate by 5 cents, according to LSEG. Revenue of $304 million also fell short of analysts’ expectations of $310 million. But better-than-expected profit margins and third-quarter revenue guidance of $370 million to $410 million, beating analysts’ expectations of $404 million, helped lift the stock.
Chub — The insurer rose about 1%. Second-quarter adjusted earnings per share came in at $5.38, beating the FactSet consensus estimate of $5.14 per share.
—CNBC’s Christina Cheddar-Burke contributed reporting.
