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Aug 2, 2023
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Advanced Micro Devices, Inc decreased 1.1% to $116.30 after the semiconductor chipmaker reported stronger-than-expected sales and earnings in the second quarter but forecasted weaker-than-expected third quarter sales.
Revenue declined 18% to $5.4 billion from $6.6 billion and net income plunged 94% to $27 million from $447 million and diluted earnings per share dropped to 2 cents from 27 cents a year ago.
Data center revenue driven by enterprise sales dropped 11% to $1.3 billion, client segment revenue which includes PC related sales plunged 54% to $998 million and gaming segment revenue declined 4% to $1.6 billion. -
Match Group Inc jumped 1.7% to $47.95 after the online dating site reported strong increase in sales and earnings in the second quarter and forecasted sales are likely to be ahead of market expectations.
Total revenue in the second quarter rose 4% to $830 million and the company swung to a net income of $137.3 million from a loss of 32.3 million and diluted earnings per share was 48 cents from (11 cents) a year ago.
Total paying subscribers declined 5% to 15.6 million from 16.4 million and average revenue per subscriber rose to $17.41 from $15.86 a year ago. -
Starbucks Corp increased 0.8% to $102.03 after the coffee chain operator reported higher-than-expected sales in the fiscal third quarter on a sales rebound in China.
Sales at stores open at least 13 months in China soared 46% from a year ago, after Covid-restrictions ended.
Global comparable store sales increased 10% and the U.S. and North American comparable store sales increased 7% from a year ago.
Revenue in the quarter ending on July 2 rose 12% to $9.2 billion and the company opened 588 net new stores in the quarter, increasing the worldwide total to 37,000.
Net earnings attributable to shareholders increased to $1.1 billion from $913 million and diluted earnings per share rose to 99 cents from 79 cents a year ago.
China is expected to drive future sales growth as the company pushes to open more stores in smaller cities of the nation with 1.4 billion people with a preferred hot beverage tea over coffee.
At the end of the third quarter, stores in the U.S. and China comprised 61% of the company’s global portfolio, with 16,144 and 6,480 stores in the U.S. and China, respectively.
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Caterpillar Inc soared 7.2% to $283.09 after the heavy equipment maker reported higher sales on rising demand in the second quarter.
Revenue in the second quarter increased 22% to $17.3 billion from $14.2 billion and net income rose to$2.9 billion from $1.7 billion and diluted earnings per share advanced to $5.67 from $3.13 a year ago.
The company reported sales increase in all regions of the world and sales in North America rose 31% to $1.3 billion and jumped in Asia Pacific increased 18% to $1.1 billion.
Sales in the oil and gas industry jumped 43% to $1.7 billion and power generation soared 39% to $1.6 billion. -
Uber Technologies declined 4.6% to $47.11 after the company said gross bookings rose 16% to $33.5 billion and reported quarterly profit of 18 cents a share.
Revenue in the second quarter rose 14% to $9.2 billion from $8.1 billion a year ago.
The company swung to operating profit of $326 million from a loss of $726 million, first ever operating income on GAAP basis.
Net income attributable to shareholders was $324 million compared to a loss of $2.6 billion and diluted earnings per share was 18 cents compared to ($1.33) a year ago. -
Pfizer Inc increased 0.9% to $36.27 after the pharmaceutical company reported mixed quarterly results in the second quarter.
Revenue in the second quarter declined 54% to $12.7 billion from $27.7 billion and net income plunged 77% to $2.3 billion from $9.9 billion and diluted earnings per share dropped to 41 cents from $1.43 a year ago.
Expected decline in Paxlovid and Comirnaty (Covid vaccine) revenues drove a 53% decline in operating revenues. -
Arista Networks, Inc soared 22% to $186.86 after the company reported higher-than-expected sales and earnings in the second quarter and also estimated higher-than-expected third quarter sales.
Second quarter sales increased to $1.5 billion from $1.1 billion and net income jumped to $491.9 million from $299 million and diluted earnings per share advanced to $1.55 from 94 cents a year ago.
The company forecasted third quarter revenue between $1.45 billion and $1.50 billion and non-GAAP margin of 62%. -
Exxon Mobil Corp declined 1.8% to $103.54 after the largest oil company reported mixed quarterly results.
Revenue in the second quarter declined to $82.9 billion from $115.7 billion and net income attributable to shareholders fell to $7.9 billion from $17.9 billion and diluted earnings per share dropped to $1.94 from $4.21 a year ago. -
Chevron Corp fell 0.8% to $158.50 after the oil company reported lower earnings from a year ago following a decline in energy prices.
Revenue in the second quarter fell to $48.9 billion from $68.7 billion and net income declined to $6.0 billion from $11.6 billion and diluted earnings per share dropped to $3.20 from $5.95 a year ago. -
Intel Corporation jumped 6.7% to $36.73 after the chipmaker returned to profitability in the second quarter after losses in previous two quarters in a row.
Revenue in the second quarter declined 15% to $12.9 billion from $15.3 billion and the company swung to a net income of $1.5 billion from a loss of $0.5 billion and diluted earnings per share was 35 cents compared to a loss of ($0.11) a year ago.
The company announced a dividend of 12.5 cents a share payable on September 1 to shareholders on record on August 7.
The company's third quarter sales also suggested improving sales and forecasted third quarter sales between $12.9 billion and$13.9 billion and gross margin of 39.1% and diluted earnings per share of 4 cents.
Aug 1, 2023
Jul 28, 2023