Microsoft, GameStop, Starbucks & extra
Satya Nadella, CEO of Microsoft Corp., speaks during the company’s annual general meeting on November 29, 2017 in Bellevue, Washington.
David Ryder | Bloomberg | Getty Images
Check out the companies that are making headlines after the bell:
Microsoft – The software giant’s shares rose more than 5% in after-hours trading after the company posted second-quarter profits and sales well above analysts’ expectations. While earnings per share of $ 2.03 beat forecast of $ 1.64, investors were particularly pleased with Microsoft’s sales, which included a 23% year-over-year increase in the Intelligent Cloud unit and revenue growth of 17% in total belonged.
Advanced Micro Devices – AMD stocks fluctuated in expanded trading, rising more than 1% before undoing. The stock’s volatility came after the company reported earnings results that were just above analyst expectations. The earnings per share were 52 cents above the expected 47 cents. Revenue of $ 3.24 billion also exceeded expectations for $ 3.03 billion. Given the trading reaction, some analysts wondered if investors had hoped for more from the Santa Clara, California-based chip maker. As of the last time the stock was down 2.2%.
Texas Instruments – Similarly, stocks of Texas Instruments traded, falling about 1.5% after the closing bell despite a solid earnings report for the fourth quarter. Fourth quarter revenue of $ 4.08 billion beat analysts’ forecast for $ 3.6 billion, while earnings also beat expectations. For the quarter, TI forecasts earnings of $ 1.44 to $ 1.66 per share on revenue of $ 3.79 to $ 4.11 billion, compared to a forecast of $ 1.34 per share and revenue of 3.6 Billion USD.
Starbucks – The coffee chain saw its shares fall in value after it announced that U.S. sales fell 5% in the first quarter of fiscal after an increase in new Covid-19 cases led to tighter restrictions on restaurants and other eateries would have. The company also said that chief operating officer Roz Brewer will be leaving Starbucks in late February to become CEO of another publicly traded company.
GameStop – The price of GameStop stock continued to baffle many on Wall Street, with a more than 50% jump after the bell. The oversized move, seen as further evidence of a multi-day short squeeze, promises a remarkable 127% rally since the start of the week if regular trading resumes on Wednesday. Tesla CEO Elon Musk may also have impacted the stock’s surge after tweeting about GameStop on his Twitter account.