In midday trading, Microsoft saw a 2% jump in shares after reporting better-than-expected fiscal third-quarter results, with its Azure business showing momentum. Alphabet, the parent company of Google, rallied 10% after posting first-quarter results that exceeded estimates. The company also authorized its first-ever dividend and announced a $70 billion buyback. Exxon Mobil’s stock fell over 2% after reporting first-quarter adjusted earnings that missed analysts’ forecasts. ResMed saw shares soar 17% after posting fiscal third-quarter results that topped expectations, showing $2.13 in earnings per share on $1.20 billion in revenue. Intel, however, declined 9% after issuing a weak forecast for the current quarter, with revenue expected to range from $12.5 billion to $13.5 billion.
Snap saw a 28% increase in shares following the company’s posting of adjusted earnings and revenue that surpassed analysts’ expectations. Charter Communications slipped 2% on weak first-quarter results, earning $7.55 per share on $13.68 billion in revenue, below analysts’ estimates. Skechers rallied nearly 13% after posting a beat in both earnings and revenue in the first quarter. Roku, on the other hand, saw a 8% decline after posting first-quarter results, with growth in its stream service distribution activities facing difficult year-over-year comparisons. T. Rowe Price Group’s shares advanced 5% following better-than-expected quarterly results, with the asset management company reporting adjusted earnings of $2.38 per share on revenue of $1.75 billion. L3Harris Technologies gained 3% after reporting an earnings and revenue beat in the first quarter and raising its full-year guidance.
Microsoft’s shares jumped 2% in midday trading after the tech giant reported better-than-expected fiscal third-quarter results, driven by strong performance in its Azure business. Alphabet, the parent company of Google, saw a 10% rally in its shares as it surpassed estimates in its first-quarter results and announced its first-ever dividend along with a $70 billion buyback. Exxon Mobil’s stock fell over 2% after missing analysts’ forecasts in their first-quarter adjusted earnings, while ResMed saw shares surge 17% following fiscal third-quarter results that beat expectations. Intel, however, declined 9% after issuing a weak forecast for the current quarter, with revenue expected to be lower than anticipated.
Snap’s shares soared 28% after the social media company reported adjusted earnings and revenue that exceeded analysts’ expectations, while Charter Communications slipped 2% on weak first-quarter results. Skechers rallied nearly 13% after posting strong results in the first quarter, exceeding expectations in both earnings and revenue. Roku saw a 8% decline following its first-quarter results, with the company warning of challenging year-over-year growth comparisons in its stream service distribution activities. T. Rowe Price Group’s shares advanced 5% after reporting better-than-expected quarterly results, with L3Harris Technologies gaining 3% after beating earnings and revenue expectations in the first quarter and raising its full-year guidance.
