On May 15, 2024, a dog sat on a Tesla electric car and looked out the window at the Tesla Supercharger station in Santa Monica, California.
Patrick T. Fallon AFP | Getty Images
Take a look at the companies making headlines over the long haul:
letter — The tech giant fell 1% despite improving revenue and profits in the second quarter. Alphabet earned $1.89 per share on revenue of $84.74 billion. The consensus estimate was earnings of $1.84 per share and revenue of $84.19 billion. However, its income YouTube Ads Some fell short of forecasts.
Tesla — Shares of the electric car maker fell 4.7% Second quarter financial report Missed consensus estimate. Tesla reported adjusted earnings of 52 cents per share, while analysts polled by LSEG expected earnings of 62 cents per share. On the other hand, the company reported quarterly revenue of $25.5 billion, slightly above Wall Street expectations of $24.77 billion.
visa — Shares fell more than 2% after the company’s fiscal third-quarter revenue missed expectations. Visa reported revenue of $8.9 billion, slightly below the $8.92 billion forecast by analysts surveyed by LSEG. Meanwhile, payment volume increased 7% in the quarter.
Seagate — Seagate shares rose more than 6% after reporting fourth-quarter profit and revenue that exceeded expectations. Seagate earned $1.05 per share (excluding items) on revenue of $1.89 billion. Analysts polled by LSEG expected the company to earn 75 cents a share on revenue of $1.87 billion. The company attributed its strong performance to improvements in its cloud environment.
Capital One Financial — The credit card issuer’s second-quarter profit fell from a year earlier, sending its shares down about 1% as the bank set aside more funds to offset potential credit losses. Revenue rose 5% from the same period last year to $9.51 billion, but was lower than analysts’ expectations polled by LSEG.
Texas Instruments — Shares of the chipmaker rose 5% after reporting better-than-expected profits. Texas Instruments (TI) earned $1.22 per share, compared with the consensus estimate of $1.17 per LSEG share. The company’s revenue of $3.82 billion was in line with expectations.
Mattel — Shares of the toy maker rose more than 1% after reporting second-quarter results. Its adjusted earnings per share were 19 cents, according to LSEG, beating analysts’ expectations of 17 cents per share. Revenue was $1.08 billion, slightly below expectations of $1.1 billion. Mattel reiterated its full-year guidance and highlighted gross margin expansion.
Carl Maine Foods — Shares of the country’s largest egg producer fell 1% as an outbreak of bird flu continued to weigh on the company’s results. Fourth-quarter earnings were $2.32 per share, higher than the same period last year but below analysts’ forecasts of $2.41 per share, according to FactSet. Sales of $640.8 million also missed estimates of $652.3 million.
Eun Sang Energy — Solar stocks rose 5% despite weaker-than-expected second-quarter results. Enphase’s adjusted earnings per share were 43 cents, 5 cents below consensus estimates, according to LSEG. Revenue of $304 million was also below analysts’ forecasts of $310 million. However, the company’s stock price rose, profit margins were better than expected, and third-quarter revenue forecast was US$370 million to US$410 million, higher than analysts’ expectations of US$404 million.
Chubb — Insurers gained nearly 1%. Second-quarter adjusted earnings of $5.38 per share beat the consensus estimate of $5.14 per share, according to FactSet.
—CNBC’s Christina Cheddar Berk contributed reporting.
