Stocks making the biggest moves after hours: Facebook, Qualcomm, Transocean and more
Check out the companies making headlines after the bell.
Facebook — The social media giant's stock soared 10% in extended trading after the company reported first-quarter financial results. After seeing a sharp decrease in ad revenue in March, the company has since seen stability in the first three weeks of April, according to its earnings report. Facebook posted earnings of $1.71 per share on revenue of $17.74 billion, while analysts polled by Refinitiv expected earnings of $1.75 per share on revenue of $17.41 billion.
Microsoft — Shares of the technology company jumped 3% in extended trading after Microsoft provided its earnings for the third quarter. The company reported a 15% increase in fiscal third-quarter sales that was spurred by its cloud business. Microsoft also said the coronavirus had "minimal net impact on the total company revenue," according to a company statement. Microsoft reported earnings of $1.40 per share on revenue of $35.02 billion, while analysts expected earnings of $1.26 per share with revenue of $33.66 billion, according to Refinitiv.
Qualcomm — The wireless technology company's stock climbed 3% in extended trading after Qualcomm published its second-quarter financial results. The company posted a double beat on earnings and revenue. Qualcomm said it had earnings of 88 cents per share excluding some items on revenue of $5.21 billion, while analysts polled by Refinitiv expected earnings of 78 cents per share with revenue of $5.03 billion. The company said it expects to see around a 30% reduction in handset shipments in the third quarter compared to its previous expectations, according to a statement from Qualcomm.
Norwegian Cruise Line — Shares of the cruise line jumped 6% in extended trading after news broke that the company is furloughing about 20% of its employees through July 31.
Tesla — The automaker's stock rose 9% in extended trading after the company released its first-quarter earnings. Tesla said it had earnings of $1.24 per share on revenue of $5.99 billion, while analysts expected a loss of 36 cents per share with revenue of $5.90 billion. This was the third consecutive quarter Tesla has posted a profit.
eBay — The e-commerce retailer's stock whipsawed and fell 3% in extended trading after eBay revealed its first-quarter financial results. The company reported earnings of 77 cents per share excluding some items on revenue of $2.37 billion, while Wall Street expected earnings of 72 cents per share on revenue of $2.32 billion, according to Refinitiv.
Align Technology — Shares of the orthodontic device manufacturer tumbled 5% in extended trading after the company posted its first-quarter financial results. Align Technology reported earnings of 73 cents per share excluding some items on revenue of $551 million. Analysts polled by Refinitiv expected earnings of $1.00 per share on revenue of $580 million. The company withdrew its full-year 2020 guidance as well as its outlook on the second quarter of fiscal 2020 due to the economic uncertainty caused by the coronavirus.
Transocean — The offshore oil drilling company's stock plunged 9% in extended trading after the company reported its earnings in the first quarter. Transocean missed analysts' estimates on both earnings and revenue. The company said it had a loss of 30 cents per share on revenue of $759 million, while analysts polled by Refinitiv expected a loss of 29 cents on revenue of $803 million. Transocean also reported in its earnings release that its cash and cash assets fell to $1.48 billion in the first quarter from $1.79 billion in the previous quarter.
ServiceNow — The cloud computing company's stock shot up 8% in extended trading after ServiceNow issued its first-quarter financial results. The company reported earnings of $1.05 per share excluding some items on revenue of $1.05 billion, while analysts anticipated earnings of 95 cents per share on revenue of $1.02 billion, according to Refinitiv. ServiceNow also provided second quarter 2020 guidance and updated full‑year 2020 guidance that factors in the expected impact of the coronavirus at a time when many companies are withdrawing their financial outlooks.
Exxon Mobil — Shares of the oil company were up about 3% in extended trading after Exxon Mobil's board of directors declared a cash dividend of 87 cents per share on common stock. The dividend is payable on June 10, according to a company statement.
Vertex Pharmaceuticals — The pharmaceutical company's stock popped 3% in extended trading after the company released its first-quarter financial results. Vertex said it had adjusted earnings of $2.56 per share on revenue of $1.52 billion. Analysts expected earnings of $1.84 on revenue of $1.28 billion, according to FactSet.
AMC Entertainment — The movie theater chain saw its stock climb 4% after the closing bell. The company said Wednesday that it was banning Universal Studios films from its theaters. The film studio, which is owned by Comcast, made nearly $100 million in home rental fees on the release of "Trolls World Tour" in the three weeks since its release on streaming platforms. AMC is also delaying its 10-Q quarterly report, according to an SEC filing Wednesday.
Comcast owns NBCUniversal, which is the parent company of CNBC.