Stocks making the biggest moves after hours: META, QCOM, ARM
Check out the companies making headlines after the bell : Meta Platforms — Shares of the social media giant rallied more than 4%. Meta Platforms topped revenue and earnings expectations for the recent quarter, posting earnings of $5.16 per share on $39.07 billion in revenue. The company also offered a strong forecast for the current period. Qualcomm — The chip company popped nearly 6% after topping Wall Street’s fiscal third-quarter estimates and issuing strong guidance for the current quarter. Qualcomm posted adjusted earnings of $2.33 per share on $9.39 billion in adjusted revenue. For the current period, the company expects sales to range between $9.5 billion and $10.3 billion. Arm Holdings — The U.K.-based semiconductor stock shed more than 10%. Arm forecasted adjusted earnings ranging from 23 cents to 27 cents per share for the fiscal second quarter , while analysts called for 27 cents, per LSEG. The decline came despite a top-and-bottom line beat for the fiscal first quarter. Teladoc — The telehealth stock slid 14% after posting worse-than-expected revenue in the second quarter. Teladoc said it recorded $642 million, while analysts polled by LSEG had forecasted $650 million. The company also withdrew its full-year and long-term outlook. Etsy — The e-commerce stock inched higher by less than 1% on mixed quarterly results. Etsy topped revenue expectations, but adjusted earnings fell 4 cents short of an LSEG consensus estimate of 45 cents per share. Cheesecake Factory – The restaurant chain added less than 1%. Adjusted earnings for the second quarter came in at $1.09 per share, beating consensus estimates for $1 per share, according to FactSet. Revenue missed expectations, however, with Cheesecake Factory reporting $904 million, while analysts called for $909.2 million. eBay — Shares inched lower by about 1% even after the e-commerce platform posted a beat on both the top and bottom lines for its second quarter. eBay also forecasted that its third-quarter adjusted earnings would come in between $1.15 to $1.20 a share, higher than the $1.13 analysts polled by LSEG had expected. Western Digital – Shares of the data storage manufacturer tumbled 4%. Western Digital issued underwhelming revenue guidance for the fiscal first quarter, ranging from $4 billion to $4.2 billion. Analysts polled by LSEG called for $4.2 billion. The company beat on top and bottom lines in the fiscal fourth quarter. Lam Research — Lam Research shares slipped more than 2%. The semiconductor equipment maker surpassed Wall Street’s estimates on the top and bottom lines. The company offered in-line EPS guidance for the current quarter. MGM Resorts — The resort stock ticked lower by less than 1%, even as the company posted better-than-expected second-quarter results. MGM Resorts posted adjusted earnings of 86 cents a share on $4.33 billion in revenue. That topped the earnings of 62 cents per share and $4.22 billion in revenue expected by analysts polled by LSEG. Kyndryl Holdings — Shares of the IT infrastructure services provider that was spun out of IBM added less than 1% after posting mixed quarterly results. Kyndryl Holdings posted revenues of $3.74 billion, falling short of the $3.79 billion expected by analysts surveyed by LSEG. CH Robinson — The logistics company rallied more than 8% after posting mixed second-quarter results. Adjusted earnings topped estimates, while revenues came up short of the $4.53 billion expected by analysts polled by LSEG. — CNBC’s Alex Harring, Lisa Han, Jesse Pound and Darla Mercado contributed reporting
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