Corporate Performance Overview: Stock Movements in Extended Trading
In the latest round of extended trading, several notable companies experienced significant fluctuations in their stock prices following the release of quarterly earnings reports. Here’s a detailed look at how these businesses fared:
Tesla’s Earnings Miss Expectations
Tesla’s stock saw a slight decline after reporting first-quarter earnings that fell short of analysts’ expectations. The electric vehicle giant posted adjusted earnings of $0.27 per share on revenues of $19.34 billion. Analysts surveyed by LSEG had anticipated earnings of $0.39 per share and revenues around $21.11 billion.
Enphase Energy’s Subpar Performance
Enphase Energy faced a significant drop of over 12% after its first-quarter results failed to meet Wall Street forecasts. The company’s adjusted earnings were recorded at $0.68 per share, and revenue stood at $356 million. With analysts predicting $0.70 earnings per share and projected revenue of $361 million, Enphase’s outlook for the second quarter also missed expectations, contributing to investor concern.
Intuitive Surgical’s Cautious Outlook
Intuitive Surgical’s stock fell nearly 6% after the company provided a cautious forecast regarding its gross profit margins for 2025. The biotechnology firm indicated a projected non-GAAP gross profit margin of 65% to 66.5%, down from 69.1% in 2024. While the first-quarter results did demonstrate a beat on the top and bottom lines, this warning overshadowed the positive performance.
SAP’s Strong Earnings Report
Conversely, SAP’s stock surged nearly 7% following an impressive first-quarter earnings report. The software company announced adjusted earnings of $1.44 per share, exceeding the anticipated $1.32 per share estimated by analysts.
Oklo’s Leadership Change
Oklo, a nuclear technology startup, experienced a decline of nearly 11% after the announcement that CEO Sam Altman would be stepping down from his position. This transition is expected to allow Oklo more flexibility in pursuing potential partnerships with major tech players, including OpenAI.
Packing Concerns at Packaging Corporation of America
Packaging Corporation of America faced a downturn of over 5% as the company issued a second-quarter earnings forecast that did not align with analysts’ estimates. It projected earnings of $2.41 per share, while the consensus among analysts was $2.63 per share, prompting investor skepticism.
Bristol Myers Squibb’s Trial Results
The biopharmaceutical company Bristol Myers Squibb saw a drop of nearly 6% following disappointing results from a Phase 3 trial for its drug Cobenfy. The trial did not demonstrate statistically significant results for its intended supplemental treatment of adults with schizophrenia.
Manhattan Associates’ Positive Surge
On a positive note, Manhattan Associates, a supply chain software provider, saw its stock increase by 6% after delivering first-quarter earnings of $1.19 per share, surpassing consensus estimates of $1.03 per share. Additionally, their non-GAAP operating margins and revenue figures exceeded analyst expectations, contributing to the optimistic outlook.
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