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| Stocks making the biggest moves after hours: Intuitive Surgical, Netflix and more |
Stocks were on a downward trend on Friday, with both the S&P 500 and Nasdaq Composite dipping for the third straight day. A widespread IT outage added to the market's volatility.
Here are some of the stocks making significant moves today:
Microsoft (MSFT): Shares fell slightly, while CrowdStrike (CRWD) tumbled 12%. A global IT outage caused by a CrowdStrike software update disrupted Microsoft’s PC operating systems, grounding flights and impacting stock exchanges. CrowdStrike CEO George Kurtz assured that the issue had been resolved and clarified it wasn’t a security breach or cyberattack.
Netflix (NFLX): Despite reporting better-than-expected second-quarter earnings and adding 8.05 million subscribers, Netflix shares dipped 0.2%. The company's revenue met Wall Street estimates, and it projected a 14% revenue increase for the third quarter, slightly below analyst expectations.
Intuitive Surgical: The robotic surgery company saw its shares rise 7.5% after reporting second-quarter profits that exceeded analyst estimates and sales of $2.01 billion. The company noted a 17% increase in procedures using its da Vinci robotic systems.
PPG Industries: Shares of the paint and coatings company dropped 2.7% after second-quarter earnings and revenue fell year-over-year. Despite organic sales growth in sectors like aerospace and packaging coatings, declines in global automotive builds and industrial production weighed on results.
Plug Power: The hydrogen-technology company’s shares plummeted 13% following the announcement of a $200 million public share offering.
American Express (AXP): Shares fell 3% even though the company reported second-quarter profits above expectations and raised its full-year earnings guidance. Revenue growth projections remained steady.
SLB: The oil-services company's shares rose 0.6% after reporting higher year-over-year earnings, although per-share earnings missed forecasts. Revenue increased by 13% to $9.14 billion.
Halliburton: The oil-services provider's shares dropped 6.8% after reporting second-quarter revenue that missed Wall Street estimates, though it rose slightly from the previous year.
Arm Holdings: Shares increased by 2.7% to $162.60 after Morgan Stanley upgraded the chip maker to Overweight from Equal Weight, raising the price target to $190 from $107.
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