Check out the companies making headlines in midday trading: Microsoft’s shares jumped 2% after reporting better-than-expected fiscal third-quarter results, with its Azure business showing momentum. Alphabet, the parent company of Google, rallied 10% after posting first-quarter results that exceeded estimates and announcing its first-ever dividend and a $70 billion buyback. Exxon Mobil’s stock fell over 2% after missing analysts’ forecasts for first-quarter adjusted earnings. ResMed’s shares soared 17% as their fiscal third-quarter results surpassed analysts’ estimates. Intel declined 9% after issuing a weak forecast for the current quarter. Snap’s shares surged 28% after exceeding analysts’ expectations for adjusted earnings and revenue. Charter Communications slipped 2% on weak first-quarter results. Skechers rallied nearly 13% after beating expectations in the first quarter. Roku slumped 8% following their first-quarter results. T. Rowe Price Group’s shares advanced 5% with better-than-expected quarterly results. L3Harris Technologies gained 3% after reporting an earnings and revenue beat in the first quarter and raising its guidance for the full year.
Several companies made headlines in midday trading, with Microsoft seeing a 2% jump in shares after reporting better-than-expected fiscal third-quarter results, driven by the strong performance of its Azure business. Alphabet, the parent company of Google, rallied 10% after posting first-quarter results that exceeded estimates and authorizing its first-ever dividend along with a $70 billion buyback. Exxon Mobil, on the other hand, fell more than 2% after missing analysts’ forecasts for adjusted earnings in the first quarter. ResMed saw a 17% surge in shares after surpassing analysts’ estimates for fiscal third-quarter results.
Intel, on the other hand, declined 9% after issuing a weak forecast for the current quarter, with revenue and adjusted earnings per share expected to fall below expectations. Snap saw a 28% increase in shares after posting adjusted earnings and revenue that surpassed analysts’ expectations, driven by growth in its digital advertising business. Charter Communications slipped 2% on weak first-quarter results, while Skechers rallied nearly 13% after beating top and bottom line expectations in the first quarter.
Roku slumped 8% after posting first-quarter results, citing challenging year-over-year growth rate comparisons in its stream service distribution activities. T. Rowe Price Group saw a 5% increase in shares following better-than-expected quarterly results, and L3Harris Technologies gained 3% after reporting earnings and revenue beats in the first quarter and raising its full-year guidance.
Overall, it was a mixed bag for companies in midday trading, with some surpassing expectations and others falling short, reflecting the ongoing volatility in the market.
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