Several companies were making headlines in midday trading, with Microsoft seeing a 2% jump in shares following 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 after posting first-quarter results that exceeded estimates and announcing its first-ever dividend and a $70 billion buyback. Exxon Mobil, on the other hand, fell more than 2% after missing analysts’ forecasts for first-quarter adjusted earnings. ResMed, a medical device company, saw shares soar 17% after surpassing analysts’ estimates for fiscal third-quarter results. Intel, however, declined 9% after issuing a weak forecast for the current quarter, with expected revenue and earnings per share below analysts’ expectations.
Snap was another company making waves, with shares soaring 28% after defying expectations with adjusted earnings and revenue growth in the first quarter. Charter Communications, a broadband and cable provider, slipped 2% on weak first-quarter results, with earnings and revenue both falling below analysts’ estimates. Skechers, a footwear company, rallied nearly 13% after posting a top and bottom line beat in the first quarter, exceeding analyst expectations for earnings per share and revenue. Roku saw a more modest 8% decline after posting first-quarter results that topped revenue expectations but warned of challenges ahead in its stream service distribution activities.
T. Rowe Price Group saw shares rise 5% after reporting better-than-expected quarterly results, with adjusted earnings per share and revenue both exceeding analyst estimates. L3Harris Technologies, a defense company, gained 3% following an earnings and revenue beat in the first quarter and an increased guidance for the full year. Overall, the companies in focus were experiencing a mix of positive and negative reactions in the market based on their recent financial results and forecasts.
Microsoft saw a 2% jump in shares following 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 after posting first-quarter results that exceeded estimates and announcing its first-ever dividend and a $70 billion buyback. Exxon Mobil, on the other hand, fell more than 2% after missing analysts’ forecasts for first-quarter adjusted earnings. ResMed, a medical device company, saw shares soar 17% after surpassing analysts’ estimates for fiscal third-quarter results. Intel, however, declined 9% after issuing a weak forecast for the current quarter, with expected revenue and earnings per share below analysts’ expectations.
Snap was another company making waves, with shares soaring 28% after defying expectations with adjusted earnings and revenue growth in the first quarter. Charter Communications, a broadband and cable provider, slipped 2% on weak first-quarter results, with earnings and revenue both falling below analysts’ estimates. Skechers, a footwear company, rallied nearly 13% after posting a top and bottom line beat in the first quarter, exceeding analyst expectations for earnings per share and revenue. Roku saw a more modest 8% decline after posting first-quarter results that topped revenue expectations but warned of challenges ahead in its stream service distribution activities.
T. Rowe Price Group saw shares rise 5% after reporting better-than-expected quarterly results, with adjusted earnings per share and revenue both exceeding analyst estimates. L3Harris Technologies, a defense company, gained 3% following an earnings and revenue beat in the first quarter and an increased guidance for the full year. Overall, the companies in focus were experiencing a mix of positive and negative reactions in the market based on their recent financial results and forecasts.
