Netflix — The streaming giant shed nearly 7% after reporting mixed quarterly results. Netflix posted earnings of $3.29 a share on $8.19 billion in revenue. Analysts surveyed by Refinitiv anticipated earnings o of $2.86 per share and $8.30 billion in revenue. Netflix also said it’s too early to break down revenue from its new ad-supported tier and password crackdown.
Tesla — Shares lost about 4% before the bell. The electric vehicle maker reported second-quarter earnings that topped Wall Street’s expectation on the top and bottom lines, and record quarterly revenue. Operating margins, however, fell to the lowest level in at least the past five quarters as a result of recent price cuts.
IBM — The tech stock dipped about 1% after the company reported a revenue miss for the second quarter, caused partly by a slump in the infrastructure division. However, IBM reported earnings that topped analysts’ estimates as the company expanded its gross margin.
Johnson & Johnson – The pharmaceutical giant saw shares rise more than 1% after it posted better-than-expected earnings and hiked its full-year guidance after seeing a surge in sales in its medtech division, which provides devices for surgeries, orthopedics and vision. J&J posted adjusted earnings of $2.80 per share on revenue of $25.53 billion, beating the Refinitiv estimate of $2.62 per share on revenue of $24.62 billion.
Las Vegas Sands — The resort-and-casino stock fell 2% despite beating analyst expectations for its second quarter. Las Vegas Sands posted 46 cents in adjusted earnings per share on $2.54 billion in quarterly revenue, while analysts polled by Refinitiv forecasted 46 cents in earnings per share and revenue at $2.39 billion.
