CVX, AAPL, CLX, AMZN and more
Check out the companies making headlines in midday trading. Chevron — Stock in the oil major slipped more than 3% after the company’s second-quarter earnings missed Wall Street estimates. Chevron reported adjusted earnings $2.55 per share on revenue of $51.18 billion. Analysts polled by LSEG forecast earnings of $2.93 per share and $50.8 billion in revenue. Intel — The chipmaker slumped more than 27% and was on track for its worst single-day ever following softer-than-expected guidance and steep layoffs. Intel said it would trim its workforce by 15,000 employees and would also not pay its fiscal fourth-quarter dividend. Amazon — Stock in the e-commerce firm pulled back 9% after Amazon reported a disappointing third-quarter outlook . The firm now expects revenue of $154 billion to $158.5 billion in the fourth quarter, while analysts polled by LSEG expected $158.24 billion. Apple — The tech giant’s shares jumped nearly 3%, one of the few stocks in the green amid Friday’s sell-off, after the firm reported fiscal third-quarter results that beat Wall Street expectations. Apple’s overall revenue rose 5% year over year, with iPhone, iPad and Services sales all topping analyst expectations. Snap — Stock in the parent company of Snapchat declined 26% on weaker-than-expected third quarter guidance . Snap now expects adjusted earnings in the range of $70 million to $100 million, while analysts surveyed by LSEG forecast $110 million. Cloudflare — Shares advanced roughly 7% after the IT firm raised its full-year forecast. Cloudflare now expects full-year adjusted earnings between 70 cents to 71 cents per share, up from the previous range that called for 60 cents to 61 cents per share. DoorDash — The food delivery stock jumped almost 8% after the company’s second-quarter revenue surpassed Wall Street estimates. DoorDash reported revenue of $2.63 billion, against a forecast from analysts polled by LSEG of $2.54 billion. Clorox — Shares advanced 7%. The household goods and cleaning company raised its forecast following a fiscal fourth-quarter earnings beat. Clorox now expects full-year adjusted earnings between $6.55 and $6.80 per share, while analysts surveyed by LSEG expected $6.45 per share. Twilio — The cloud communications company climbed 10% after second-quarter results surpassed analysts’ estimates on the top and bottom line. Twilio reported an adjusted 87 cents per share on $1.08 billion in revenue, while analysts polled by LSEG called for 70 cents a share and $1.06 billion. GoDaddy — Shares climbed 6% after the company increased its full-year outlook. The web hosting firm now expects full-year revenue between between $4.525 billion and $4.565 billion, compared to a forecast from analysts polled by FactSet that called for $4.53 billion. Coterra Energy — Shares slumped more than 3% after the company’s second-quarter earnings results missed analyst estimates. Coterra reported adjusted earnings of 37 cents per share, while analysts surveyed by FactSet were looking for 39 cents a share. Roku — Shares fell nearly 2% even after Roku’s second quarter results topped expectations. The streaming device company posted a quarterly loss of 24 cents per share, better than analysts’ estimated loss of 43 cents per share, according to LSEG. Revenue of $968 million exceeded the $938 million consensus estimate. Atlassian — The software company fell more than 17% after disappointing forward guidance. Atlassian now forecasts fiscal first-quarter revenue between $1.149 billion to $1.157 billion, while analysts polled by LSEG had expected $1.16 billion. Microchip Technology — Shares of the chipmaker fell 8.9%. Adjusted earnings in the fiscal first quarter topped analysts’ estimates, while revenue came in-line with forecasts. Guidance for the current quarter’s earnings and revenue fell short of the Street’s expectations, per FactSet. Management cited a challenging macro backdrop leading to an extended period of an inventory correction — CNBC’s Hakyung Kim, Sarah Min and Yun Li contributed reporting
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