9 months ago
81 The Netflix logo is shown connected 1 of their Hollywood buildings successful Los Angeles, California, July 12, 2023.
Mike Blake | Reuters
Check retired the companies making headlines earlier the bell.
Netflix — The streaming elephantine shed astir 7% aft reporting mixed quarterly results. Netflix posted net of $3.29 a stock connected $8.19 cardinal successful revenue. Analysts surveyed by Refinitiv anticipated net o of $2.86 per stock and $8.30 cardinal successful revenue. Netflix besides said it's excessively aboriginal to interruption down gross from its caller ad-supported tier and password crackdown.
Tesla — Shares mislaid astir 4% earlier the bell. The electrical conveyance shaper reported second-quarter earnings that topped Wall Street's anticipation connected the apical and bottommost lines, and grounds quarterly revenue. Operating margins, however, fell to the lowest level successful astatine slightest the past 5 quarters arsenic a effect of caller terms cuts.
IBM — The tech banal dipped astir 1% aft the institution reported a gross miss for the 2nd quarter, caused partially by a slump successful the infrastructure division. However, IBM reported net that topped analysts' estimates arsenic the institution expanded its gross margin.
Johnson & Johnson – The pharmaceutical elephantine saw shares emergence much than 1% aft it posted better-than-expected earnings and hiked its full-year guidance aft seeing a surge successful income successful its medtech division, which provides devices for surgeries, orthopedics and vision. J&J posted adjusted net of $2.80 per stock connected gross of $25.53 billion, beating the Refinitiv estimation of $2.62 per stock connected gross of $24.62 billion.
Las Vegas Sands — The resort-and-casino banal fell 2% contempt beating expert expectations for its 2nd quarter. Las Vegas Sands posted 46 cents successful adjusted net per stock connected $2.54 cardinal successful quarterly revenue, portion analysts polled by Refinitiv forecasted 46 cents successful net per stock and gross astatine $2.39 billion.
Taiwan Semiconductor – Shares of the chipmaker slid much than 2% aft the company posted its archetypal nett drop in 4 years arsenic request for user electronics continued to slump. Taiwan Semi posted nett income of 181.8 cardinal New Taiwan dollars, which was higher than the Refinitiv estimation of NT$172.55 billion. Revenue for the 4th bushed expectations too.
Discover Financial — The fiscal services institution shed much than 12% aft reporting second-quarter results that fell abbreviated of Wall Street's expectations connected some the apical and bottommost lines. Discover Financial reported net of $3.54 a stock connected $3.88 cardinal successful revenue. Analysts expected net of $3.67 per stock connected gross of $3.89 billion.
United Airlines — Shares roseate 3% aft United Airlines reported record quarterly earnings and said it expects a beardown 3rd 4th arsenic question request surges.
Zions Bancorp — The determination slope jumped much than 7% aft posting second-quarter earnings. During the period, the institution reported a rebound successful lawsuit deposits. Earnings came successful enactment with expert expectations astatine $1.11 a share.
American Airlines — The hose banal mislaid 1% adjacent aft posting second-quarter results that surpassed expert expectations. American Airlines besides lifted its nett forecast for the twelvemonth amid the ongoing question boom.
D.R. Horton — The homebuilding banal roseate 4% arsenic beardown request successful caller location operation helped it apical quarterly expectations. D.R. Horton reported net of $3.90 per stock connected $9.73 cardinal successful revenue. Analysts polled by Refinitiv expected net of $2.79 per stock connected gross of $8.39 billion.
Blackstone — Blackstone mislaid 3% aft second-quarter gross fell abbreviated of expectations. The institution reported net of 92 cents a stock connected $2.35 cardinal successful revenue. Analysts polled by Refinitiv expected net per stock of 92 cents and $2.43 cardinal successful revenue.
Anheuser-Busch - Shares of the beleagured beermaker roseate little than 1% successful premarket trading aft Morgan Stanley upgraded Anheuser-Busch to overweight. The banal presents a "very favourable hazard reward" aft a contention astir Bud Light caused shares to slide, according to Morgan Stanley.
— CNBC's Tanaya Macheel, Alex Harring, Jesse Pound and Yun Li contributed reporting
