Stocks making the biggest moves after hours: Amazon, Apple, Western Digital and more
Check out the companies making headlines after the bell.
Amazon — The e-commerce giant’s stock tumbled 5% in extended trading after the company posted its first-quarter financial results. The company reported first-quarter earnings of $5.01 per share, which missed analysts’ estimates of $6.25 per share, according to Refinitiv. Amazon said it had revenue of $75.45 billion, while analysts polled by Refinitiv anticipated $73.61 billion.
Amazon announced that it is spending all of its second-quarter profits on responding to the Covid-19 pandemic. “If you’re a shareowner in Amazon, you may want to take a seat, because we’re not thinking small,” the company said in its earnings release. Amazon said that under normal circumstances, the company would expect an operating profit of around $4 billion in the second quarter.
Apple — The tech company’s stock whipsawed and fell 2% in extended trading after the company provided its earnings for the second quarter. Apple said revenue from iPhone sales fell 7% from a year ago amid the coronavirus pandemic. The company gave adjusted earnings of $2.55 per share with revenue of $58.31 billion, while analysts expected adjusted earnings of $2.26 per share on $54.54 billion in revenue, according to Refinitiv.
Gilead Sciences — The pharmaceutical company saw its stock drop 2% in extended trading after it reported first-quarter earnings. Gilead said it had earnings of $1.68 per share excluding some items with revenue of $5.55 billion, while analysts estimated earnings of $1.57 per share on revenue of $5.45 billion, according to Refinitiv. The company also said it can produce more than 140,000 rounds of its remdesivir coronavirus treatments by the end of May, and can make 1 million rounds of the antiviral drug regimen by the end of this year.
United Airlines — The airline’s stock climbed 1% in extended trading after the company published financial results for the first quarter. United Airlines said it had a loss of $2.57 per share excluding some items on revenue of $7.98 billion. Analysts polled by Refinitiv estimated a loss of $3.47 per share and revenue of $8.22 billion.
Western Digital — The data storage company’s stock plunged 10% in extended trading after the company released its third-quarter earnings. Western Digital reported earnings of 85 cents per share excluding some items, while analysts polled by Refinitiv anticipated earnings of 93 cents per share. The company’s revenue of $4.18 billion was in line with analysts’ estimates, according to Refinitiv. Western Digital said it expects a headwind in the fiscal fourth quarter from physical store closures caused by the coronavirus pandemic, according to a company statement.
Visa — Shares of the credit card company fell 1% in extended trading after Visa announced its second-quarter financial results. The company reported adjusted earnings of $1.39 per share and said it had revenue of $5.85 billion. Wall Street expected revenue of $5.75 billion, according to Refinitiv.