Welcome to Extreme Investor Network, where we dive deep into the latest financial news and give you unique insights to help you make informed investment decisions. Today, we’re taking a look at some of the companies making headlines in after-hours trading.
Discover Financial Services saw its shares rise 2.7% after reporting its second-quarter results. The bank and payments company posted net interest income of $3.52 billion, exceeding analyst expectations. Earnings per share also surpassed estimates, coming in at $6.06 compared to the expected $3.10 per share.
Conversely, Kinder Morgan experienced a 2.8% drop in its stock price after reporting quarterly results below expectations. The pipeline operator’s adjusted earnings of 25 cents per share fell short of the anticipated 26 cents per share, and revenue also missed expectations.
United Airlines had a mixed second quarter, with adjusted earnings beating estimates but revenue falling short. The company posted earnings of $4.14 per share, above the consensus estimate of $3.93 per share, while revenue came in at $14.99 billion, below the expected $15.06 billion.
Steel Dynamics, a steel producer, saw its shares rise nearly 2% after reporting second-quarter earnings of $2.72 per share on revenue of $4.63 billion, beating analyst expectations. Similarly, Alcoa, the aluminum company, inched higher after posting adjusted earnings and revenue above forecasts.
On the flip side, Beyond Meat’s shares slid 15% after reports surfaced that the company is engaging with bondholders to discuss restructuring its balance sheet. The stock is down nearly 20% in 2024.
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