Welcome to Extreme Investor Network, where we bring you the latest updates on the stock market and financial news that you need to know. Today, we are highlighting some of the top companies that are making headlines in after-hours trading. Let’s dive in and see how these companies are performing.
1. Ford Motor: Ford shares dropped 11% after the company reported lower-than-expected second-quarter earnings due to warranty issues. Despite adjusted earnings per share of 47 cents, which was below analysts’ forecast of 68 cents, automotive revenue was slightly higher than expected at $44.81 billion.
2. Chipotle: Shares of Chipotle gained nearly 2% as the burrito chain exceeded earnings and revenue expectations. Higher restaurant traffic and price hikes helped boost profits, with adjusted earnings of 34 cents per share on revenue of $2.97 billion for the quarter.
3. International Business Machines (IBM): IBM’s shares rose 3.8% after reporting better-than-expected quarterly results. The company posted adjusted earnings of $2.43 per share on revenue of $15.77 billion, surpassing analysts’ estimates. IBM also expects higher full-year free cash flow and sees increased business in generative artificial intelligence.
4. ServiceNow: The software company jumped 6% after posting second-quarter adjusted earnings of $3.13 per share on revenue of $2.62 billion, beating analysts’ forecasts. This strong performance led to a positive market reaction for ServiceNow.
5. Molina Healthcare: Shares of the managed care company surged 13% as it reaffirmed its full-year guidance for adjusted earnings and reported second-quarter results that exceeded expectations. Molina’s performance was well-received by investors.
6. KLA Corporation: The semiconductor manufacturing company saw a nearly 3% gain following a positive fiscal fourth-quarter financial report. With adjusted earnings of $6.60 per share and revenue of $2.57 billion beating expectations, KLA also provided higher guidance for the first quarter.
7. Align Technology: Align Technology, known for its Invisalign clear aligners, slipped about 9% after releasing disappointing guidance and slightly missing analysts’ revenue expectations. Adjusted earnings of $2.41 per share for the second quarter were below expectations, leading to a drop in stock price.
8. Edwards Lifesciences: Shares of the heart valve systems manufacturer fell more than 13% after reporting second-quarter earnings just above estimates and providing third-quarter revenue guidance that fell short of analysts’ expectations.
9. O’Reilly Automotive: The auto parts retailer saw a nearly 4% drop as it missed expectations in the second quarter. Earnings of $10.55 per share on revenue of $4.27 billion were below forecasts, leading to a decline in stock price.
10. Viking Therapeutics: Shares of the drug developer rose more than 10% after announcing advancements in its obesity treatment, VK2735, and plans for phase 3 trials. This positive news led to investor optimism and a boost in stock price.
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