Stock Market

Stocks making the biggest moves after hours: Alphabet, Microsoft, Apple and more

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The logo of Alphabet Inc’s Google outside the company’s office in Beijing, China, August 8, 2018.
Thomas Peter | Reuters

Check out the companies making headlines Tuesday after the bell

Alphabet — Google-parent Alphabet saw its shares jump about 3% after a blowout quarterly earnings report. The technology giant reported earnings of $27.26 per share, topping a Refinitiv forecast of $19.34 per share. Google also posted revenue of $61.88 billion, beating Wall Street’s $56.16 billion projection. The company’s advertising revenue rose 69% from last year.

Microsoft — Microsoft shares fell more than 2% despite a better-than-expected quarterly earnings report. The tech company posted earnings of $2.17 per share, while Wall Street was looking for earnings of $1.92 per share, according to Refinitiv. The company’s quarterly revenue of $46.15 billion also beat analysts’ estimates. However, Microsoft’s revenue from device makers for Windows licenses in the quarter fell 3%.

Apple — Apple shares edged about 0.8% lower in after-hour trading even after the company reported earnings per share, revenue and iPhone sales that were above Wall Street’s forecasts. Apple reported earnings per share of $1.30, revenue of $81.41 billion and iPhone sales of $39.57 billion. Asked if the stronger iPhone sales were the result of existing iPhone customers upgrading or new customers switching over from rival phones, CEO Tim Cook told CNBC that the company saw “very strong double-digit increases in both upgraders and switchers during the quarter.”

Starbucks — Starbucks shares fell 3.2% despite the company reporting fiscal third-quarter sales and profit ahead of Wall Street’s estimates. The coffee producer notched $1.01 per share and $7.5 billion in revenue, as same-store sales rebounded both in the U.S. and overseas. It now expects worldwide same-store sales to rise 20% to 21% in fiscal 2021, compared with a prior range of 18% to 23%.

Mattel — Shares of Mattel climbed more than 3% after the company posted better-than-expected results for the previous quarter. The toymaker reported earnings of 3 cents per share on revenue of $1.03 billion. Analysts expected a loss of 5 cents per share on revenue of $879 million.

Mondelez International — The global snack maker saw its shares dip more than 2% in after-hours trading after it released its latest quarterly results. Mondelez posted per-share earnings of 66 cents, beating a Refinitiv forecast of 65 cents per share. Mondelez, which owns brands including Oreo and Ritz, saw revenue of $6.6 billion during the three months ended June 30.

Teladoc Health — Shares of Teladoc Health dropped more than 7% despite better-than-expected quarterly revenue. The company virtual healthcare company reported revenue of $503 million, while analysts expected $501 million, according to Refinitiv.

Advanced Micro Devices — The semiconductor stock edged 1.1% higher after the company reported earnings of 63 cents per share, 9 cents higher than what analysts polled by Refinitiv expected. AMD also posted revenue of $3.85 billion, beating a forecast of $3.62 billion. The chip maker issued strong third-quarter revenue guidance, and raised its full-year revenue guidance.

Visa — The payments processor reported revenues of $6.13 billion during the three months ended June 30, above the $5.88 billion analysts polled by Refinitiv had expected. It also posted adjusted per-share earnings of $1.49, beating the $1.35 per share forecast by Refinitiv. Visa shares fell 2.2% in extended trading follow the company’s earnings report.

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