Nvidia headquarters in Santa Clara, California, June 5, 2023.
Marlena Sloss | Bloomberg | Getty Images
Check out the companies making headlines in extended trading.
Splunk — Shares surged by 11% following an impressive earnings beat. Splunk exceeded expectations by earning 71 cents per share on $889 million in revenue, surpassing the predicted 46 cents per share by analysts. Moreover, the company also raised its forecast, indicating positive momentum.
Nvidia — The chip stock saw a notable increase of almost 9% after reporting its second-quarter results. Nvidia reported earnings of $2.70 per share, excluding items, on $13.51 billion in revenue, surpassing Refinitiv’s predicted $2.09 per share in earnings and $11.22 billion in revenue.
Snowflake — Shares increased by nearly 3% after surpassing earnings expectations. Snowflake reported a profit of 22 cents per share, adjusting for certain items, on $674 million in revenue, surpassing the predicted 10 cents per share in profit on $662 million in revenue.
Taiwan Semiconductor,
AMD,
Marvell — Semiconductor stocks experienced a surge following Nvidia’s impressive second-quarter earnings. Taiwan Semiconductor increased by 3%, while AMD and Marvell gained 3.9% and 5.3%, respectively.
Guess — The fashion stock experienced a significant surge of almost 19% after Guess reported earnings of 72 cents per share, excluding items, on $664.5 million in revenue in the latest quarter.
Super Micro Computer — Shares climbed by 8.4% following Nvidia’s impressive earnings beat. Loop Capital reasserted a buy rating on Super Micro Computer stock earlier on Wednesday, with analyst Ananda Baruah suggesting that Nvidia’s earnings could boost the stock even further if the report surpasses estimates.
Autodesk — The software stock experienced a 5% increase after reporting its second-quarter results. Autodesk reported earnings of $1.91 per share after adjustments on $1.35 billion in revenue, surpassing Refinitiv’s predicted $1.73 per share in earnings and $1.32 billion in revenue.
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