Exxon Mobil reported a stronger-than-expected profit for the second quarter thanks to record production in Guyana and the Permian Basin, causing shares to rise slightly in premarket trading. On the other hand, Intel saw its shares plunge 20% after reporting weaker-than-expected earnings and revenue for the quarter and announcing layoffs of more than 15% of employees as part of a cost-cutting initiative. Snap’s stock sank 17% after the company provided disappointing guidance for the third quarter, expecting lower adjusted earnings than analysts had predicted. Cloudflare, on the other hand, saw a positive response from investors after raising its full-year outlook and beating earnings and revenue estimates in the second quarter.
DoorDash’s stock rose 9% after the food delivery company posted second-quarter revenue that exceeded analysts’ expectations and raised its guidance for the third quarter. Amazon, however, saw its e-commerce stock fall over 8% after reporting weaker-than-expected revenue for the quarter and providing a disappointing forecast for the next quarter, despite revenue growth in its cloud division. Block, a fintech company, saw its stock rise more than 3% after beating earnings estimates in the second quarter, although revenue missed expectations. Clorox, a household goods company, also saw its stock rise after issuing strong fiscal full-year earnings guidance and reporting better-than-expected fourth-quarter earnings.
Apple’s stock ticked up after beating analysts’ estimates for the fiscal third quarter, reporting earnings and revenue that surpassed expectations. Twilio’s stock jumped 5% after the cloud communications company beat quarterly expectations on both the top and bottom lines. Coinbase, the crypto exchange operator, added 1.3% after reporting revenue slightly above estimates for the second quarter. Booking Holdings, an online travel company, saw its shares slip despite beating expectations in the second quarter and issuing guidance for the third quarter below analysts’ estimates. GoDaddy’s shares jumped around 7% after the web hosting company increased its outlook for the full year.
Coterra Energy, however, saw its shares pull back after reporting disappointing earnings results for the second quarter. Roku’s stock rose after reporting a better-than-expected second-quarter loss and revenue that beat estimates. Atlassian’s shares tumbled more than 12% after issuing weak guidance for the fiscal first quarter and lower-than-expected full-year revenue growth. Microchip Technology, a semiconductor stock, fell 7% after reporting adjusted earnings that topped estimates in the first quarter, but forward earnings per share guidance for the second quarter missed consensus calls due to a challenging macro backdrop.
