Several companies made headlines in after-hours trading, starting with Apple, which surged 7% after announcing a $110 billion share repurchase and beating top- and bottom-line expectations in its fiscal second-quarter earnings report. Expedia, on the other hand, dropped roughly 8% after lowering its full-year guidance due to slow growth in Vrbo and business-to-consumer services. Amgen saw an 11% increase in its stock price after posting strong first-quarter earnings that surpassed analysts’ estimates. The biotech company also announced plans to move its injectable obesity drug into a phase 3 trial.
Fortinet shares tumbled 8% as the security company’s billings guidance for the second quarter and full year fell slightly short of expectations. Despite this, Fortinet reported solid first-quarter earnings that beat analysts’ estimates. Block, the payment services provider, saw a 6% increase in its stock price after reporting strong first-quarter earnings that exceeded analysts’ expectations. Cloudflare, however, saw its shares slide 13% after issuing weak guidance on revenue for the full year, despite posting better-than-expected first-quarter results.
DaVita, a health-care provider, gained 3% in extended trading after reporting first-quarter adjusted earnings and revenue that topped analysts’ expectations. Overall, the after-hours trading session saw a mix of positive and negative reactions to company earnings reports, with some companies experiencing significant stock price fluctuations based on their financial performance and guidance for the future. Investors closely monitored these developments to gauge the overall health and outlook of these companies in the current market environment.
In conclusion, Apple, Amgen, Block, and DaVita saw stock price increases after reporting strong earnings and exceeding analysts’ estimates. On the other hand, Expedia, Fortinet, and Cloudflare experienced declines in their stock prices after issuing cautious guidance or falling short of expectations. These after-hours trading movements reflect investor reactions to the financial performance and outlook of these companies, signaling potential shifts in market sentiment. As investors continue to assess company earnings reports and guidance, they will likely adjust their investment decisions accordingly to capitalize on emerging opportunities or mitigate risks in the market.
