Biggest After-Hours Movers: Microsoft, Google, Snap, Teladoc

Discover the latest trends in the stock market.

Alphabet — The Google parent company’s stock surged 7% after reporting better-than-expected second-quarter results, driven by impressive growth in its cloud sales. Alphabet recorded earnings of $1.44 per share on $74.6 billion in revenue, surpassing analysts’ estimates of $1.34 per share and $72.82 billion in revenue according to Refinitiv. The company also announced the promotion of Ruth Porat, the CFO of Alphabet, to the position of president and chief investment officer.

Snap — Snap’s stock plummeted 17% after providing weak guidance for the current quarter. However, the company managed to report an adjusted loss of 2 cents per share, exceeding the consensus estimate of a 4 cent loss per share according to Refinitiv. Snap’s revenue came in at $1.07 billion, surpassing analysts’ expectations of $1.05 billion.

Microsoft — The technology giant’s stock declined approximately 1% after announcing slower revenue growth in its cloud business during the fourth quarter of the fiscal year. However, Microsoft exceeded analysts’ expectations by reporting earnings of $2.69 per share compared to the anticipated $2.55 per share, according to Refinitiv. The company generated $56.19 billion in revenue, surpassing estimates of $55.47 billion.

Wells Fargo — The bank’s stock rose 3% during after-hours trading following the announcement of a $30 billion share buyback program by Wells Fargo.

Texas Instruments — Texas Instruments saw a 3.7% decrease in its stock value. The company provided earnings per share guidance for the current quarter, ranging from $1.68 to $1.92, with most of the range falling below the consensus estimate of $1.91 according to FactSet. Texas Instruments projected revenue for the quarter to be between $4.36 billion and $4.74 billion, encompassing the consensus estimate of $4.59 billion among analysts polled by FactSet.

Intuitive Machines — The space exploration company’s stock gained 1% after being selected by NASA to contribute to the development of lunar night technology. You can learn more about this here.

Robert Half — The employment agency’s stock experienced a 12.7% decline after falling short of earnings expectations. The elongated hiring cycles of clients affected Robert Half’s performance. The company reported earnings of $1 per share on $1.64 billion in revenue, while analysts surveyed by Refinitiv predicted earnings of $1.14 per share and revenue of $1.69 billion.

Teladoc — The healthcare stock for virtual consultations rallied 6% after reporting earnings that exceeded expectations. Teladoc’s second-quarter results revealed a loss of 40 cents per share, outperforming analysts’ projections of a 41 cent loss per share according to Refinitiv. The company also surpassed revenue estimates, generating $652 million compared to the consensus estimate of $649 million.