Movers: Alphabet, Boeing, Carnival, Chipotle, Hilton, Microsoft, Qualtrics, Texas Instruments, Visa

Scott Peters
26 Oct, 2022
New York City

Alphabet Inc fell 7.8% to $96.34 in after hours trading and the search engine operator said revenue in the third quarter increased 6% to $69.1 billion from $65.1 billion a year ago. 

Net income in the period fell to $13.9 billion from $18.9 billion and diluted earnings per share dropped to $1.06 from $1.40 a year ago. 

Alphabet's sales growth slowed sharply to 6% from 41% a year ago, highlighting pullback in corporate advertising from providers of financial services, mortgage and loans and insurance and crypto industry. 

Boeing Company declined 1.1% to $145.10 despite the aerospace company reporting unexpected quarterly loss on issues linked to its Airforce One tanker program in addition to ongoing commercial plane production challenges. 

Carnival Corp jumped 1.2% to $8.72 after the cruise line operator's subsidiary completed $2.03 billion senior debt offering secured by cruise vessels valued at $28 billion.   

The new debt maturing in 2028 will refinance the current debt maturing in 2022. 

Chipotle Mexican Grill, Inc fell 5.2% to $1,502.23 after the fast-food restaurant chain  operator said revenue in the third quarter increased 13.7% to $2.2 billion and comparable restaurant sales increased 7.6%. 

Net income in the third quarter was $257.1 million or $9.20 a diluted share compared to $204.4 million or $7.18 a diluted share a year ago. 

Stock declined after restaurant traffic eased on higher prices and looming recession and stretched consumer budget may dampen future comparable store sales.   

Hilton Worldwide gained 2.2% to $1.30.64 after the company posted better-than-expected earnings and raised its estimate for full-year earnings on the sustained rise in travel demand. 

Microsoft Corporation plunged 6.3% to $234.72 after the company said revenue in fiscal first quarter ending in September increased 11% to $50.1 billion and net income decreased 14% to $17.6 billion from a year ago. 

Diluted earnings per share declined 13% to $2.35 from a year ago. 

The stock declined sharply after the company cited weakness in its cloud business and earnings were ahead of expectations but growth slowed to the slowest pace in five years. 

Search and news advertising sales growth declined to 16% from 40% a year ago and sales have growing at a slower pace every quarter in a row for a year, reflecting general weakness in online advertising. 

Rollins, Inc jumped 9.3% to $39.31 after the pest control services company reported strong third quarter results. 

Third quarter revenue increased 12.2% to $729.7 million and net income rose 14.7% to $107.6 million. 

Diluted earnings per share rose to 22 cents from 19 cents a year ago. 

The Company announced a 30% increase to the regular quarterly dividend for the fourth quarter.

Qualtrics International fell 1.1% to $11.36 after the company said revenue in the third quarter increased 39% to $377.5 million from $271.6 million a year ago. 

Net loss in the quarter shrank to $233.5 million from $286 million and diluted loss per share fell to 40 cents from 56 cents a year ago. 

The company guided fourth quarter revenue in the range between $380 million and $382 million and subscription revenue between $323 million and $325 million. 

Texas Instruments declined 3.2% to $157.07 after the chipmaker posted third quarter revenue increased 13% to $5.2 billion from $4.64 billion a year ago.

Net income increased 18% to $2.3 billion from $1.95 billion and diluted earnings per share rose to $2.47 from $2.07 a year ago. 

The company guided fourth quarter revenue in the range of $4.40 billion to $4.80 billion and earnings per share between $1.83 and $2.11.

Visa Inc increased 4.03% to $202.43 after the payment processing network operator reported September quarter revenues increased 19% to $7.8 billion. 

Net income rose 10% to $3.9 billion and diluted earnings per share increased 13% to $1.86. 

Payment volume in the quarter increased 10% and processed transactions rose 12% from a year ago. 

Visa also lifted its quarterly dividend 20% to 45 cents a share and the company board authorized a new $12.0 billion share repurchase program. 

The company returned to shareholders, including dividend and stock repurchase, $2.9 billion and $14.8 billion in the fiscal fourth quarter and fiscal 2022.