Intel Corp (NASDAQ:INTC, XETRA:INL) shares reversed sharply on Friday, falling more than 4% after an initial surge after Thursday’s bell as investors weighed a mixed picture from Wall Street analysts following the chipmaker's second-quarter results.
Intel beat expectations with $0.42 in pro-forma earnings per share, nearly double consensus estimates, on revenue that topped forecasts by 12%. Data center sales jumped 59% year-over-year, marking the company's best growth rate in 15 years, according to Bank of America. Third-quarter guidance of $16.3 billion also came in well above Street estimates.
Verizon Communications Inc (NYSE:VZ, XETRA:BAC) shares rose about 3% on Friday morning after the company reported second quarter results that beat Wall Street expectations for adjusted earnings and raised its full-year outlook, despite revenue coming in below forecasts.
The company reported adjusted earnings per share of $1.30 for the quarter ended June 30, ahead of analyst estimates of $1.27 to $1.28.
American Express Company (NYSE:AXP, XETRA:AEC1) shares fell about 6% on Friday after the company reported second-quarter revenue that came in slightly below Wall Street expectations, despite beating profit estimates.
The company reported earnings per share of $4.53 for the quarter ended June 30, ahead of the consensus estimate of $4.40. Revenue, net of interest expense, increased 10% year over year to $19.64 billion, slightly below analyst expectations of approximately $19.69 billion.
Wise Group PLC (LSE:WISE, NASDAQ:WSE) shares fell 9% to 824p after US regulators rejected its application for a national trust bank charter.
The US Office of the Comptroller of the Currency denied the application following concerns linked to historical compliance issues identified after it was submitted more than a year ago.