Stock Movers

Today's biggest winners and losers in the stock market, a look at the notable movers:
On this episode of Stock Movers:

- Amazon (AMZN) shares jumped in post-market trading after it beat revenue expectations for the second quarter by 1.8%, with the AI-cloud Amazon Web Services division coming in 4.1% ahead of estimates. Net income climbed 244% from a year earlier. However, it sees 3Q revenue of between $197 billion and $202 billion, less than the $204 billion consensus. The surprisingly strong performance of the AI business seems to be what’s pushing shares higher, but the company was also far more profitable than consensus forecasts. Operating income was 16% above estimates.

- Apple (AAPL) sales grew more slowly than anticipated in China and its services business last quarter, sparking concerns about two key markets for the iPhone maker. Apple shares fell about 4% in late trading following the announcement, despite total revenue topping estimates and the iPhone's revenue rising 22% to $54.3 billion during the quarter. The company is planning several new Macs and iPads across the end of this year and next spring, and incoming CEO John Ternus faces challenges including adapting Apple to the AI era and replenishing its leadership bench.

- Rivian Automotive (RIVN) reported better-than-expected earnings as it began deliveries of a new midsize sport-utility vehicle, a positive sign while the company contends with a weakened market for electric vehicles in the US. The company's adjusted loss before interest, taxes, depreciation and amortization was $379 million in the second quarter, down from a $667 million loss a year ago, and its revenue also topped estimates. Rivian is working to rein in costs and revamp production while rolling out its newest model, the lower-cost R2 line, which the company is betting can help it capture greater share of the market for EVs

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On this episode of Stock Movers, we look at some of the week's biggest gainers and decliners:

- Amazon (AMZN) shares rallied in extended trading after it delivered earnings that beat Wall Street estimates. The e-commerce and cloud-computing company reported second-quarter results that beat expectations on key metrics, including revenue at its Amazon Web Services business. However, it also gave a third-quarter revenue outlook that was weaker than expected.

- Rivian (RIVN) reported better-than-expected earnings as it began deliveries of a new midsize sport-utility vehicle, a positive sign while the company contends with a weakened market for electric vehicles in the US.

- Coinbase (COIN) reported total revenue for the second quarter that missed the average analyst estimate. Shares traded lower in extended trading.

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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Carvana (CVNA) is sinking after the online car retailer gave an annual adjusted Ebitda forecast with a midpoint below analyst estimates.
- Chipotle (CMG) and Starbucks (SBUX) raised their guidance after stronger-than-expected quarters, with sales bolstered by new menu items and revamped loyalty programs.
- Crocs (CROX) shares are sinking after a soft outlook for this quarter pointed to a weak second half, pushing some investors to sell following a big rally in the company’s shares this year.

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Today's biggest winners and losers in the stock market.

On this episode of Stock Movers:

- Microsoft (MSFT) shares are higher after it reported strong fiscal fourth-quarter results on Wednesday afternoon. Its shares were initially up as much 4% in after-hours trading. The closely-watched sales growth rate in the company's Azure cloud unit was 43% versus expectations of 40%.

- Meta (META) shares are falling after the Facebook parent gave a revenue outlook that is seen as disappointing. It also raised the low end of its full-year forecasts for both capital expenditures and total expenses, adding to concerns about when spending on AI will translate into better growth.

- Arm Holdings (ARM) shares are declining in early trading after the company pointed to sluggishness in the smartphone industry.

- Starbucks (SBUX) and Chipotle (CMG) shares are moving after they raised their guidance after stronger-than-expected quarters, with sales bolstered by new menu items and revamped loyalty programs. The results show that diners are still willing to spend if the prices and flavors are right, offering hope to consumer companies amid rising gas prices and concerns about cutbacks on restaurant outings.

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Today's biggest winners and losers in the stock market.

On this episode of Stock Movers:

- Schneider Electric shares rise as much as 7%, the most since April, after the firm’s second-quarter beat and raised guidance was welcomed by analysts, who say the report is a strong print from the French electrification and automation group, particularly for its data-center offerings.

- Adidas shares fell as much as 18%, the most on record, after the German brand’s marketing spending for the football World Cup resulted in lower-than-expected quarterly profit.

- Rolls-Royce shares rise after it raised its full-year guidance for a second time as the UK’s largest manufacturer earned more from selling engines for widebody planes, military hardware and artificial intelligence.

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Today's biggest winners and losers in the stock market.

On this episode of Stock Movers:

- Samsung posted a 250-fold surge in chip profits and now expects memory shortages to worsen next year, reflecting the relentless pace of a global AI infrastructure buildout.

- Zhongji Innolight dropped in its Hong Kong trading debut after raising HK$53.4 billion ($6.8 billion) in the city’s largest listing in seven years.

- Bank shares were the heaviest drag on the broader Topix, after the Fed decided not to hike interest rates at its Wednesday policy meeting.

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Today's biggest winners and losers in the stock market.

On this episode of Stock Movers:

- Shares of Meta Platforms Inc. (META) fell in the aftermarket session, after the company gave a disappointing revenue forecast for the current quarter, intensifying investor concerns about the social media giant’s unprecedented spending on artificial intelligence. Meta said third-quarter revenue will be $61 billion to $64 billion, with the midline of that range below the average analyst estimate of $63.2 billion, according to data compiled by Bloomberg. Meta relies on its advertising business to finance its expensive bets on AI products and infrastructure, including data centers and AI-powered glasses.

- Shares of Microsoft (MSFT) moved higher in extended trading, after the software company reported fourth-quarter results that beat expectations on key metrics, including cloud revenue. Microsoft’s cloud unit grew at the fastest pace in four years, suggesting that the company’s computing infrastructure and artificial intelligence services continue to make inroads with businesses. Azure cloud-computing revenue increased 43% during the fiscal fourth quarter, the company said Wednesday in a statement. That was the fastest quarterly growth since early 2022, and topped analysts’ average growth estimate of about 40%. Azure sales topped $100 billion for the first time during the fiscal year ended in June.

- Shares of Qualcomm (QCOM) declined after Wednesday's close, after the world's largest maker of smartphone processors, gave a weak profit forecast for the current quarter, signaling that component shortages and rising costs are taking a toll on its main market. Earnings will be $2.05 to $2.25 a share in the period running through September, excluding some items, the company said in a statement Wednesday. Even the upper end of that range would miss the average analyst estimate. Revenue will be $9.7 billion to $10.5 billion, compared with an average projection of $9.95 billion.

- Starbucks (SBUX)  raised its annual outlook after quarterly results surpassed market estimates, showing that efforts to attract diners with speedier service and new products are paying off. The stock rose in extended trading and extending gains during the company’s conference call with analysts. The shares have advanced 23% this year through Wednesday’s close, more than three times the gain of the S&P 500 Index. 

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On this episode of Stock Movers: 

• Ford (F) shares climb. Ford Motor Co. raised its profit outlook for the second time this year as consumers continue to buy the automaker’s high-margin sport-utility vehicles. The company’s quarterly earnings were better than expected, and it now expects to earn as much as $11 billion before interest and taxes this year, up from its prior forecast. 
• Caterpillar (CAT) falls after Baird analyst Mircea Dobre cut the recommendation to neutral from outperform, citing a growing trend of state and local government actions targeting data centers, which have become a key growth driver for the industrial giant. 
• Skyworks (SWKS) shares sink. The semiconductor-device company gave an outlook for adjusted fourth-quarter earnings that was slightly weaker than expected. It also reported third-quarter results that beat expectations, though it said it “has decided not to declare any quarterly dividends going forward,” given its pending deal with Qorvo.

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On this episode of Stock Movers: 

• Meta (META) shares are mixed. Meta lead Magnificent 7 stocks higher in premarket trading ahead of its quarterly earnings update due after the close Wednesday. 
• Microsoft (MSFT) shares fall. The UK’s consumer and antitrust watchdog is investigating whether Microsoft Corp. misled customers into paying more for its productivity tools software subscriptions after adding its Copilot AI product to the suite. 
• Seagate (STX) shares gain. The computer hardware and storage company reported fourth-quarter results that beat expectations and gave a revenue forecast that is ahead of the consensus estimate.

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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Humana (HUM) is sinking after the insurer maintained its yearly profit guidance despite a strong second quarter.
- P&G (PG) shares are moving after it gave a conservative outlook for its current fiscal year and results in the latest quarter fell short of estimates.
- Kering (PPRUY) shares jumped after the luxury goods maker reported better-than-expected revenue at Gucci in the second quarter.

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