Stocks making big moves after hours: AAPL, AMZN, F
“Chinese companies are getting pretty competitive for iPhone assemblers. China is doing quite well in pretty much everything, except semiconductors,” Kirk Yang, chairman and CEO of Kirkland Capital, told CNBC’s “Squawk Box Asia” Friday.
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Here are the notable stocks making moves after hours on Thursday, Feb. 2.
Apple — The consumer tech stock tumbled 4% in extended trading after the company reported weaker-than-expected results for its fiscal first quarter. The company reported $1.88 in earnings per share on $117.15 billion of revenue. Analysts surveyed by Refinitiv were expecting $1.94 in earnings per share and $121.10 billion of revenue. Sales were down 5% year over year.
Amazon — Shares of the e-commerce giant fell more than 3% in extended trading despite beating revenue estimates for the fourth quarter. Amazon reported $149.20 billion in revenue for the quarter, above the $145.42 billion expected, according to Refinitiv. The company reported just three cents in earnings per share. Amazon’s stock gained more than 7% during regular trading hours, and the midpoint of the company’s first-quarter revenue guidance was below expectations.
Alphabet — Alphabet dropped more than 5% in extended trading after the Google parent company missed expectations on the top and bottom lines for the fourth quarter, according to analyst estimates from Refinitiv. Revenues from YouTube advertising and its Google Cloud offering were both lower than analysts expected. Alphabet’s stock closed up by more than 7% in the previous trading session.
Qualcomm — Shares of the chipmaker dipped 1.5% in extended trading after Qualcomm reported $2.37 in adjusted earnings per share for its fiscal first quarter. That was three cents better than estimates, according to Refinitiv. However, Qualcomm’s adjusted revenue came in at $9.46 billion, below the expected $9.60 billion.
Starbucks — Shares fell about 1% after the coffee-shop chain missed expectations on both per-share earnings and revenue in its fiscal first quarter. Starbucks reported an adjusted 75 cents in earnings per share and $8.71 billion in revenue. Analysts surveyed by Refinitiv were expecting 77 cents per share and $8.78 billion of revenue. The company reported a 2% decline in comparable transactions year over year, thanks in part to weakness in China.
Ford — Shares of the automaker tumbled 6% in extended trading after fourth-quarter earnings fell far short of expectations, despite better-than-expected revenue. CEO Jim Farley said the company “left about $2 billion in profits on the table” during the fiscal year.
Atlassian — Shares of Atlassian shed 12% after hours when the software company posted a loss for its latest quarter. On a GAAP basis, Atlassian reported an operating loss of $99.2 million for the quarter, compared with operating income of $23 million in the year-ago quarter. Revenue for the fiscal second quarter came in at $873 million compared to analysts’ estimates of $850 million, according to Refinitiv.
Skechers – The shoe company’s shares slipped by more than 2% in extended trading after Skechers gave soft guidance on earnings and revenue for its first quarter, as well as weak guidance for the full year. Skechers posted fourth-quarter earnings of 48 cents per share on revenue of $1.88 billion. Analysts called for earnings of 37 cents per share on revenue of $1.77 billion, according to Refinitiv.
Cirrus Logic – The semiconductor supplier’s shares tumbled 7% in extended trading after the company gave weak guidance on fiscal fourth quarter revenues versus analysts’ estimates, according to Refinitiv. Nevertheless, the company beat the Street’s expectations, posting earnings of $2.40 per share, excluding items, on revenues of $591 million.
Gilead Sciences — Shares of the pharmaceutical company rose 4% after the bell following a stronger than expected fourth-quarter report. Gilead easily beat estimates for adjusted earnings and per share and revenue, according to analysts polled by Refinitiv. The company also announced a 2.7% dividend increase.
Clorox – The maker of cleaning products saw its shares rise 4% in after-hours trading. The company beat Wall Street’s expectations for the fiscal second quarter, posting earnings of 98 cents per share, excluding items, on revenue of $1.72 billion. That compares to earnings of 65 cents per share on revenue of $1.66 billion estimated by analysts, according to Refinitiv.
— CNBC’s Alex Harring, Darla Mercado and Christina Cheddar-Berk contributed to this report.
