Beyond high-profile names like Supermicro and Snap, several other companies also saw notable stock moves following their earnings reports.
Snap said it will not issue a second-quarter financial forecast citing economic uncertainty, as U.S. tariffs threaten to disrupt the global economy and digital advertising budgets, sending its shares down 17%.
Starbucks missed earnings and revenue estimates for its fiscal second quarter. Same-store sales fell for the fifth straight quarter. The coffee giant sank 7%.
Western Digital shares surged 4% after the data storage company reported fiscal third quarter earnings that beat analyst expectations and announced a new quarterly dividend program.
Seagate Technology shares jumped 7% after the data storage company reported fiscal third-quarter earnings that exceeded analyst expectations and provided upbeat guidance for the current quarter.
Tenable Holdings saw its shares plummet 10% after the exposure management company reported first quarter earnings that beat expectations but provided disappointing guidance for the second quarter.
First Solar saw its shares tumble 10% after the solar panel manufacturer reported first-quarter earnings that fell short of analyst expectations and issued disappointing guidance for the full year.
Norwegian Cruise Line missed first-quarter revenue and profit estimates on Wednesday, as rising concerns about tariff uncertainty have pressured demand for the cruise operator's premium sea voyages. Shares of the company were down 11%.
Visa beat Wall Street estimates for quarterly profit, as the world's largest payment processor benefited from a steady rise in card payment volumes and the company unveiled a $30 billion share repurchase plan. The shares fell 1.7%.
Logitech International outlined plans to mitigate the impact of U.S. President Donald Trump's tariffs policy as the computer mouse and keyboards maker reported fourth-quarter earnings that were slightly below estimates. The shares fell 5%.
Qorvo reported its Q4 FY2025 earnings, surpassing analyst expectations with an EPS of $1.42 compared to the forecasted $1.00. Revenue also exceeded projections, reaching $869.5 million against an expected $850.07 million. Following the announcement, Qorvo’s stock rose by 10% on Wednesday, reflecting investor optimism.
UBS posted better than expected first-quarter net profit, but the Swiss bank warned of an uncertain outlook as U.S. tariffs raise global growth fears even as the market tumult drove up earnings in its trading activity. US-listed shares of UBS fell 2.2%.
French oil major TotalEnergies reported an 18% drop in adjusted net income for the first quarter to $4.2 billion, slightly short of expectations, as debt rose and earnings fell across all business segments except liquefied natural gas. US-listed shares of TotalEnergies fell 2%.
GSK reaffirmed its 2025 outlook and said it was "well positioned" to absorb potential U.S. pharmaceutical tariffs, after reporting stronger-than-expected first-quarter results. US-listed shares of the British drugmaker gained 1.7%.
Booking Holdings declined 1.3%. The online travel booking services company’s first-quarter earnings and sales topped analysts’ expectations. Chief Financial Officer Ewout Steenbergen, on a conference call, said the company expects revenue growth of 10% to 12% in the second quarter, higher than forecasts.
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