Netflix and Intuitive Surgical lead premarket declines after quarterly results

Earnings
โดย CNBC·Read original
Summary · why it matters

Netflix dropped more than 10% in premarket trading after its second-quarter results failed to impress investors, while Intuitive Surgical fell more than 11% despite beating estimates. Netflix earned 80 cents per share on revenue of $12.56 billion, compared to analyst expectations of 79 cents per share on $12.59 billion, and said it would reduce the frequency of its engagement reports. Intuitive Surgical posted adjusted earnings of $2.80 per share on $2.89 billion in revenue, above forecasts of $2.50 per share on $2.82 billion, but maintained its full-year procedure growth outlook of around 14%. Alphabet slid 1.5%, extending Thursday's 4.5% drop after a report that Google is months behind on its latest Gemini AI model. SpaceX fell more than 3.5% after aborting a Starship launch due to engine issues, with CEO Elon Musk saying another attempt would come in days. Verizon Communications rose 1% on plans to sell 274 retail stores and cut about 500 jobs as part of restructuring. BP and ConocoPhillips each gained more than 1% on news they will announce billions of dollars in new Iraq investments. Truist Financial added 1.4% after beating earnings estimates with $1.23 per share versus the $1.08 consensus. Alcoa slipped 0.5% despite topping forecasts with adjusted earnings of $2.12 per share on $3.97 billion in revenue, while lowering its 2026 alumina production outlook. Software stocks broadly declined, with the iShares Expanded Tech-Software Sector ETF down more than 1.5% and names like Salesforce, Palantir, ServiceNow, and Microsoft all lower. Memory stocks continued to unwind, as the Roundhill Memory ETF fell more than 3% and was on track for a 19% weekly loss, with Western Digital, Micron, and Seagate all declining. Fifth Third Bancorp edged higher even after a slight earnings miss, as net interest income rose 48% year-over-year and met expectations.

Impact on stocks 17

Artificial Intelligence▼ · 4 stocks
Alphabet Inc Class C
GOOG
▼ NegativeTechnologyrelevance

Alphabet slid after a report that Google is months behind on its latest Gemini AI model.

Salesforce.com Inc
CRM
▼ Negativerelevance

Software stocks broadly declined, with Salesforce mentioned as lower, but no company-specific news.

Cloud & Digital Infrastructure± Mixed · 3 stocks
Verizon Communications Inc
VZ
▲ PositiveCapitalrelevance

Verizon Communications rose on plans to sell retail stores and cut jobs as part of restructuring.

Western Digital Corporation
WDC
▼ NegativeDemandrelevance

Memory stocks broadly declined, with the Roundhill Memory ETF down more than 3% and Western Digital declining as part of the sector unwinding.

Financials▲ · 2 stocks
Truist Financial Corp
TFC
▲ PositiveCapitalrelevance

Truist Financial beat earnings estimates with $1.23 per share versus $1.08 consensus.

Robotics & Physical AI▼ · 1 stocks
Intuitive Surgical Inc
ISRG
▼ NegativeCapitalrelevance

Maintained full-year procedure growth outlook despite beating earnings estimates, disappointing investors.

Communication Services▼ · 1 stocks
Netflix Inc
NFLX
▼ NegativeCapitalrelevance

Q2 revenue slightly missed expectations and announced reduction in engagement reports, disappointing investors.

Space Economy▼ · 1 stocks
Critical Materials & Supply Chain▼ · 1 stocks
Alcoa Corp
AA
▼ NegativeSupplyrelevance

Alcoa lowered its 2026 alumina production outlook, indicating reduced supply.

Energy Transition & Power Demand▲ · 1 stocks
BP PLC
BP
▲ PositiveCapitalrelevance

BP gained more than 1% on news it will announce billions of dollars in new Iraq investments.

Energy▲ · 1 stocks
ConocoPhillips
COP
▲ PositiveGeopoliticsrelevance

ConocoPhillips will announce billions in new Iraq investments, a positive geopolitical development.

Semiconductors▲ · 1 stocks
Defense & Geopolitical Fragmentation▲ · 1 stocks
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