- Earnings beats push several stocks higher
Check out which companies are making headlines after the bell:
Shares of Qualcomm ticked nearly 2 percent higher in extended trading on Wednesday. The tech company beat Wall Street's expectations, posting fiscal second-quarter adjusted earnings of $1.34 per share on revenue of $5.99 billion. A consensus of analysts polled by Thomson Reuters expected earnings of $1.19 per share on revenue of $5.89 billion. However, Qualcomm still has its fair share of woes, as it is embroiled in a $1 billion lawsuit
Railway company CSX also beat earnings expectations, and shares rose almost 3 percent. The Florida-based company reported first-quarter earnings of 51 cents per share, above Street estimates of 43 cents. Revenue also came in higher at $2.87 billion versus the expected $2.76 billion. CSX recently appointed a new CEO, E. Hunter Harrison, who was previously the CEO of Canadian Pacific Railway.
Shares of American Express rose more than 2 percent after the credit card company topped estimate. It reported first-quarter earnings of $1.34 per share on revenue of $7.89 billion. According to Thomson Reuters, the Street expected earnings of $1.28 per share on revenue of $7.75 billion.
United Rentals shares tumbled 6 percent after the company noted that its rental rate went down by 1.4 percent in the first quarter. Analysts had expected a smaller drop of 0.2 percent, according to StreetAccount. "While our rental rates remained under some pressure, they continue to support our reaffirmed standalone 2017 guidance for total revenue, adjusted
Shares of Select Comfort soared more than 13 percent. The mattress company reported first-quarter earnings of 56 cents per share on revenue of $394 million. Street expectations were that earnings would be 45 cents per share on revenue of $370 million.