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Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
Check out the companies making headlines after the bell:
Shares of Apple soared more than 5% in extended trading Tuesday following the release of the tech giant's better-than-expected earnings for the fiscal second-quarter. Tim Cook's company reported earnings per share of $2.46 on revenue of $58.02 billion. Wall Street estimated earnings per share of $2.36 on revenue of $57.37 billion, according to Refinitiv consensus estimates.
Apple's iPhone revenue came in at $31.05 billion, slightly lower than the $31.10 billion expected. Services revenue beat estimates of $11.37 billion at $11.45 billion.
For the third quarter Apple expects to see revenue between $52.5 billion and $54.5 billion, guiding higher than the $51.94 billion in revenue that analysts had projected.
AMD shares surged as much as 7% after hours Tuesday after reporting strong first-quarter earnings and guidance in line with estimates. The semiconductor company earned $1.27 billion in revenue, topping estimates of $1.26 billion. Earnings per share were 6 cents, slightly higher than the forecast of 5 cents per share, according to Refinitiv. Gross margin was in line with estimates at 41%.
AMD expects to earn about $1.52 billion in revenue during the company's second quarter. Analysts had projected $1.53 billion in revenue for that period.
Shares of Amgen fell as much as 1% after the bell Tuesday despite better-than-expected first-quarter earnings. The biotech copany posted earnings per share of $3.56, beating Refinitiv estimates of $3.48. Revenue came in at $5.56 billion, higher than the $5.54 billion expected by analysts.
Mondelez shares seesawed after market close Tuesday after the food company reported mixed first-quarter earnings. The Oreo cookie maker earned $6.54 billion in revenue, compared to the $6.55 billion forecast by analysts surveyed by Refinitiv. Earnings per share were 65 cents, topping estimates by 4 cents per share.
The snack giant's organic revenue increased 3.7%, beating estimates of a 2.3% increase.
Shares of insurance company Chubb ticked 1% higher in extended trading Tuesday following the release of its disappointing first-quarter earnings. Missing on the top and bottom lines, Chubb reported earnings per share of $2.54 on revenue of $6.73 billion. Wall Street expected earnings per share of $2.56 on revenue of $6.86 billion, according to Refinitiv.