Stocks snapped a two-day drop on Wednesday, boosted by better-than-expected economic data and earnings results. The Dow Jones Industrial Average rose 416.33 points while strong numbers from PayPal (PYPL) and Moderna (MRNA) pushed the Nasdaq 100 up 2.7%.
Here are top trending after-hours tickers on Yahoo Finance:
eBay (EBAY): eBay shares moved higher in after-hours trading after the company reported a Q2 earnings beat and maintained its quarterly dividend at $0.22 per share. Adjusted earnings per share for the quarter totaled $0.99., on sales of $2.4 billion. eBay CEO Jamie Iannone wrote in the earnings release, “Bay is in a stronger position today than it was when we entered the pandemic. Despite rising inflation, and an uncertain macro environment, we remain on track to deliver on our 2022 commitments."
Lucid Group (LCID): Shares sank in after hours trading after the company slashed its production outlook for the second time this year. Lucid now forecasts it will produce 6,000 to 7,000 cars this year, down from its prior guidance of 12,000 to 14,000, due to supply chain and logistics challenges. At the beginning of the year, the company anticipated making 20,000 vehicles. Second-quarter revenue totaled $97.3 million, far short of the $147.05 million Wall Street analysts expected. Lucid's CEO and CTO Peter Rawlinson noted in the earnings release, “"We've identified the primary bottlenecks, and we are taking appropriate measures – bringing our logistics operations in-house, adding key hires to the executive team, and restructuring our logistics and manufacturing organization.”
Booking Holdings (BKNG): The online travel agency posted $4.29 billion in revenue for the second quarter, just shy of the Street’s expectations of $4.33 billion,. Adjusted EPS of $19.08 per share beat the street’s forecast. Gross booking soared 57% from a year ago to $34.55 billion while room nights sold totaled 246 million. Booking Holdings CEO Glenn Fogel noted he continues to see very strong accommodation ADR growth and expects record 3Q revenue.
Clorox (CLX): Clorox shares fell after warning inflation will weigh on profit. The company’s FY 2023 adjusted earnings-per-share view of $3.85 to $4.22 missed expectations of $5.26. On the earnings call with analysts, executives noted expectations for lower volumes for the current fiscal year and anticipates increasing prices further. Adjusted EPS of 93 cents for Q4 was in line with Wall Street forecasts, while sales of $1.80 billion missed the estimate of $1.86 billion.