Stocks making the biggest moves after hours: Microsoft, GameStop, Starbucks & more
Satya Nadella, chief executive officer of Microsoft Corp., speaks during the company’s annual shareholders meeting in Bellevue, Washington, on Nov. 29, 2017.
David Ryder | Bloomberg | Getty Images
Check out the companies making headlines after the bell:
Microsoft — Shares of the software giant popped more than 5% in after-hours trading after the company reported fiscal second-quarter earnings and revenues well ahead of analyst expectations. While per-share earnings of $2.03 topped forecasts of $1.64, investors appeared especially pleased with Microsoft’s sales figures, which included a 23% year-over-year climb in its Intelligent Cloud unit and a 17% revenue pop overall.
Advanced Micro Devices — AMD equity whipsawed in extended trading, rising in excess of 1% before reversing lower. The volatility in the stock came after the company reported earnings results just above analyst expectations, with per-share earnings of 52 cents above the 47 cents expected. Revenue of $3.24 billion also edged out expectations for $3.03 billion. The trading reaction left some analysts wondering if investors had hoped for even more from the Santa Clara, Calif.-based chipmaker. As of the latest reading, the stock was down 2.2%.
Texas Instruments — Trading in a similar fashion were shares of Texas Instruments, which fell about 1.5% after the closing bell despite a solid fourth-quarter income report. Fourth-quarter revenues of $4.08 billion topped analyst projections for $3.6 billion while profit also beat expectations. This quarter, TI projects a profit of $1.44 to $1.66 a share on $3.79 billion to $4.11 billion in revenue, compared with analysts’ projected $1.34 a share and $3.6 billion in revenue.
Starbucks — The coffee chain saw its stock lose value after it said that U.S. same-store sales fell 5% during its fiscal first quarter after a surge of new Covid-19 cases led to the imposition of more onerous restrictions on restaurants and other eateries. The company also said Chief Operating Officer Roz Brewer will be leaving Starbucks at the end of February to become CEO of another publicly traded company.
GameStop — The price of GameStop equity continued to dumbfound many on Wall Street with a jump of more than 50% after the bell. The outsized move, thought to be further evidence of a multiday short squeeze, promises to add to a remarkable 127% week-to-date rally when regular trading resumes on Wednesday. Tesla CEO Elon Musk may have also impacted the stock’s spike after he tweeted about GameStop from his Twitter account.