Stocks making the biggest moves after hours: Alphabet, Tesla, Visa and more
2024-07-23 22:08:00+00:00 - Scroll down for original article
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A dog looks out the window from a Tesla electric vehicle charging at a Tesla Supercharger location in Santa Monica, California, on May 15, 2024. Check out the companies making headlines in extended trading: Alphabet — The tech giant slipped 1% despite a beat on both top and bottom lines in the second quarter. Alphabet earned $1.89 per share on $84.74 billion in revenue. Consensus estimates had called for earnings of $1.84 per share on $84.19 billion in revenue. However, revenue at its YouTube advertising segment missed forecasts. Tesla — Shares of the electric vehicle maker declined 4.7% after second-quarter earnings missed consensus estimates. Tesla reported adjusted earnings per share at 52 cents, while analysts surveyed by LSEG had called for 62 cents per share. On the other hand, the company posted $25.5 billion in quarterly revenue, which was slightly higher than the $24.77 billion estimated by the Street. Visa — Shares slipped more than 2% after the company posted a revenue miss in its fiscal third quarter. Visa reported $8.9 billion in revenue, which came in slightly below the $8.92 billion forecast by analysts polled by LSEG. Meanwhile, payments volume rose 7% in the quarter. Seagate — Shares rallied more than 6% after Seagate posted an earnings and revenue beat in the fiscal fourth quarter. Seagate earned $1.05 per share, excluding items, on $1.89 billion in revenue. Analysts surveyed by LSEG had estimated it would earn 75 cents per share on revenue of $1.87 billion. The company cited an improving cloud environment for its stronger performance. Capital One Financial — Shares of the credit card issuer fell about 1% after its second-quarter profit fell from a year ago as the bank put aside more money to offset potential credit losses. Revenue rose 5% to $9.51 billion from the year-ago period, but was lower than analysts surveyed by LSEG had expected. Texas Instruments — The chipmaker rallied 5% after reporting better-than-expected earnings. Texas Instruments recorded $1.22 in earnings per share versus the consensus estimate of $1.17 per share, per LSEG. The company's revenue of $3.82 billion came in line with forecasts. Mattel — The toymaker advanced more than 1% after announcing its second-quarter results. Its adjusted earnings per share of 19 cents topped analysts' estimates for 17 cents per share, according to LSEG data. Revenue of $1.08 billion slightly missed forecasts of $1.1 billion. Mattel reiterated its full-year guidance and highlighted its gross margin expansion. Cal-Maine Foods — Shares of the nation's largest egg producer fell 1% as the avian flu outbreak continues to pressure its performance. In the fiscal fourth quarter, earnings of $2.32 per share were higher than a year ago, but shy of the $2.41 per share analysts predicted, according to FactSet. Sales of $640.8 million also fell short of the $652.3 million estimate. Enphase Energy — The solar energy stock added 5% despite weaker-than-expected second-quarter results. Enphase posted earnings of 43 cents per share, after adjustments, which was 5 cents below consensus estimates, according to LSEG. Revenue of $304 million also fell short of the $310 million analysts forecast. However, shares rose on better-than-expected margins and its third-quarter forecast of between $370 million and $410 million in revenue, which was above the $404 million analyst estimate. Chubb — The insurance company gained nearly 1%. Adjusted earnings per share came in at $5.38 in the second quarter, beating the consensus estimate of $5.14 per share, per FactSet. — CNBC's Christina Cheddar Berk contributed reporting.