Check out the companies making headlines after the bell:
Shares of technology companies Facebook, Alphabet and Amazon all fell more than 1% after the U.S. Department of Justice said it is opening a broad antitrust review of big tech companies. Apple’s stock also ticked down following the report. The review is the biggest move yet by Attorney General William Barr to impose greater regulation on the sector.
Snap soared more than 12% in after-hours trading after the parent company of Snapchat reported second-quarter earnings that surpassed Wall Street’s estimates. The company reported a smaller-than expected loss per share of 6 cents on revenue of $388 million. Analysts polled by Refinitiv were expecting a loss per share of 10 cents on revenue of $360 million. The app developer’s user base grew to 203 million daily active users, and the company reported a gross margin of 46%, well above the 30% gross margin reported a year prior.
Shares of Chipotle Mexican Grill climbed nearly 4% after the food chain reported second-quarter earnings that beat analysts’ expectations and increased its full-year outlook for same-store sales growth. The company reported adjusted earnings per share of $3.99 on revenue of $1.43 billion, versus the earnings per share of $3.76 and $1.41 billion in revenue that analysts had expected, according to Refinitiv. The burrito maker reported that its digital sales nearly doubled during the quarter. Chipotle expects sales at restaurants open at least a year to increase at a high-single-digit rate, topping a prior estimate of mid-to-high single-digit growth.
iRobot plummeted 17% after the maker of the Roomba robot vacuum cleaner reported mixed second-quarter earnings and its CEO Colin Angle said the U.S.-China trade war could constrain growth in the second half of the year. The company reported earnings per share of 25 cents on revenue of $260 million, versus the expected earnings per share of 3 cents on revenue of $268 million, according to Refinitiv.
Texas Instruments jumped nearly 7% following the release of the semiconductor manufacturer’s second-quarter earnings. The company reported adjusted earnings per share of $1.29 on revenue of $3.67 billion, beating the expected earnings per share of $1.22 on revenue of $3.60 billion, according to Refinitiv. In a statement, Texas Instruments’ CEO Rich Templeton noted the quality of the company’s portfolio and efficiency of its manufacturing strategy, including the “the benefit of 300-millimeter Analog production.”
Shares of Visa ticked slightly lower after the payments company reported earnings for its fiscal third quarter that beat Wall Street’s expectations. The company reported adjusted earnings per share of $1.37 on revenue of $5.84 billion. Analysts polled by Refinitiv had estimated earnings per share of $1.32 on revenue of $5.70 billion.
