Cisco Systems Inc (NASDAQ:CSCO) climbed after announcing that its board had authorized an additional $15 billion for buybacks and posting second-quarter results that beat Wall Street estimates. The company posted earnings per share of $0.73 on revenue of $12.45 billion, which was up 5% from a year earlier. The average forecast of analysts was for earnings per share of $0.72 on revenue of $12.41 billion. For the third quarter, the company expected earnings per share of $0.76 to $0.78, compared the Wall Street consensus of $0.76.
The stock rose 3.7% to $49.24 in Wednesday’s after-hours trading.
DISH Network Corp (NASDAQ:DISH) was the biggest loser on the S&P 500 Index after reporting that net pay-TV subscribers decreased by 334,000 in the fourth quarter, compared with net additions of 39,000 a year earlier. Diluted earnings per share was $0.64 for the quarter, down from $2.64 a year earlier. The average estimate was $0.67 per share.
The stock fell 7.7% to $28.86 at the close.
Groupon Inc (NASDAQ:GRPN) shares tanked as the online discounter missed estimates on its latest quarterly earnings. Adjusted earnings per share for the fourth quarter came in at $0.10, which missed the consensus estimate of $0.13 per share. That compares with earnings of $0.07 per share a year earlier. The company posted revenue of $799.9 million for the period, marking an 8% decline from a year earlier because of "lower customer traffic.”
The stock fell 11% to $3.52 in Wednesday’s Nasdaq trading.
Activision Blizzard Inc (NASDAQ:ATVI) climbed after after reportedly saying on an earnings call that it will cut its global workforce by 8%.The Call of Duty videogame publisher reported earnings of $1.29 per share on revenue of $2.84 billion, while analysts had expected $1.28 on $3.04 billion in revenue.
Shares moved up 7% to $44.57.
Twilio Inc (NYSE:TWLO), the San Francisco cloud communications group, lost ground on the company’s outlook. Earnings were in line with what analysts had expected, and revenue beat guidance.
Shares fell 7.3% to $106.87.
Teva Pharmaceutical Industries Ltd (TLV:TEVA), the Israeli drug giant, fell in New York after missing earnings estimates for the fourth quarter and posting guidance that was below consensus. Not including impairment charges and restructuring costs, the company had adjusted earnings per share of $0.53, which was below the $0.55 consensus. Revenue fell to $4.559 billion from $5.398 billion, which trailed the consensus of $4.576 billion.
The stock lost 7.8% to $17.63.