Movers: Alphabet, Boeing, Coca-Cola, Microsoft, Teladoc, Union Pacific

Scott Peters
26 Jul, 2023
New York City

Microsoft Corp declined 3.3% to $339.58 after the company said revenue in the fiscal fourth quarter ending in June increased 8% to $56 b.2illion and net income soared to $20.08 billion from $16.74 billion a year ago. 

Microsoft stock declined after Azure revenue growth slowed to 26% from 27% in the previous quarter and 40% from a year ago. 

Cloud segment revenue increased 15% to $23.99 billion. 

Alphabet Inc soared 6.2% to $130.73 after the company reported better-than-expected earnings and revenue. 

Second quarter revenue increased 7% to $74.6 billion and ad revenue rose 3.3% to $58.1 billion and net income rose to $18.37 billion from $16 billion and diluted earnings per share increased to $1.44 from $1.21 a year ago. 

Revenue from the cloud segment which includes its Workspace segment jumped 26%.

Boeing Company increased 4.9% to $224.75 after the aircraft maker reported better-than-expected second quarter earnings and aircraft deliveries rose 

Revenue increased 18% to $19.7 billion and the company swung to a let loss of $149 million from $193 million and diluted earnings per share was ($0.25) from 32 cents a year ago. 

Aircraft deliveries increased to 136 from 121 in the quarter a year ago and aircraft backlog at the end of the quarter was 4,800 worth $440 billion. 

The company reaffirmed operating cash flow guidance between $4.5 and $6.5 billion and free cash flow estimate between $3.0 and $5.0 billion. 

Coca-Cola Company increased 0.6% to $62.62 after the company reported quarterly results. 

Net revenue in the second quarter ending in June increased 11% to $11.9 billion and consolidated net income soared 33% to $2.5 billion from $1.9 billion and diluted earnings per share 59 cents from 44 cents a year ago. 

Cash flow from operations increased by $83 million to $4.6 billion for the six months ending in June but free cash flow declined $45 million to $4.0 billion in the respective period. 

Unit case volumes declined 1% in North America and fell 5% in Europe, Middle East and Africa but rose 4% in Latin America. 

The company revised its full-year organic revenue growth outlook to a new range between 8% and 9% and the company estimated commodity inflation in mid single-digit on a comparable basis including hedged position. 

Union Pacific Corp soared 10.3% to $237.23 despite the company reporting a decline in revenue in its latest quarter. 

Revenue in the second quarter declined 5% to $6 billion from $6.3 billion and net income fell 14% to $1.6 billion from $1.8 billion and diluted earnings per share dropped to $2.57 from $2.93 a year ago. 

The company proposed a dividend payment of $1.30 a share, same as previous quarter and no share repurchases are planned for the remainder of the year.  

The company appointed Jim Vena as chief executive as of August 14 and also appointed Doyle Simons and Doyle Wiehoff to its Board of Directors, effective immediately. 

Teladoc Health Inc soared 25.5% to $28.60 after the online healthcare provider reported better-than-expected quarterly results. 

Revenue in the second quarter increased 10% to $652.4 million and net loss shrank to $65 million from $3.1 billion and diluted loss per share fell to 40 cents from $19.22 a year ago. 

The prior year's quarter included a non-cash goodwill charge of $3.03 billion or $18.78 a share. 

The company guided revenue in the third quarter between $650 million and $675 million and net loss per share between 50 cents and 40 cents and membership level at about 86 million. 

The online healthcare provider estimated revenue for the full-year 2023 between $2.6 billion and $2.675 billion and diluted loss per share between $1.25 and $1.60.