Major technology and consumer companies saw significant stock price movements in after-hours trading following a wave of quarterly earnings reports. While Microsoft and Starbucks surged on strong results, Meta and Teladoc Health plummeted on spending concerns and weak guidance, respectively.
U.S. stocks closed sharply lower on Wednesday, with the Dow Jones Industrial Average falling 2.18% to a new one-month low amid a broad-based decline led by the industrial and technology sectors.
The coffee giant reported fiscal third-quarter results that topped Wall Street estimates across key metrics, including a 7.9% rise in global comparable store sales, prompting a significant upgrade to its financial forecast.
A divided U.S. appeals court has revived a major class-action lawsuit against British American Tobacco, allowing consumers to collectively sue over claims that Natural American Spirit cigarette labels were misleading.
Chipotle Mexican Grill shares surged in after-hours trading after the company reported second-quarter results that surpassed analyst estimates and lifted its full-year sales forecast, signaling a sustained recovery in customer traffic.
Qualcomm provided a fourth-quarter profit forecast that missed Wall Street expectations, citing an accelerated decline in revenue from Apple and persistent supply chain costs. The chipmaker's shares fell in after-hours trading following the announcement.
Teladoc Health (TDOC) shares plunged in after-hours trading after the company reported a Q2 revenue miss and issued a significantly weaker-than-expected forecast for the third quarter and full year.
The cybersecurity firm's shares rose sharply in after-hours trading after it reported second-quarter revenue and profit that surpassed analyst expectations and boosted its financial forecast for the full year.
Carvana shares fell sharply in after-hours trading despite reporting strong second-quarter results, as its forecast for the second half of the year signaled slowing growth and failed to meet investor expectations.
