Apple, Starbucks, AMD and more

Take a look at the companies making headlines after the bell.

Apple – Apple stock rose 2.5% after it reported strong fourth-quarter results that beat analysts’ estimates on the top and bottom line. The results were powered by iPhone revenue and Apple’s service businesses like Apple TV+ and iCloud. The company reported earnings of $4.99 per share on revenue of $91.82 billion, while analysts expected earnings of $4.55 per share on revenue of $88.50 billion, according to Refinitiv.

Starbucks – Shares of the coffee giant dropped more than 1% after the company announced the closures of all cafes and deliveries for locations in the Hubei province, where the coronavirus originated. The company beat earnings estimates by 3 cents per share excluding some items, reporting quarterly profit of 79 cents per share. Revenue came in slightly below Wall Street forecasts, according to Refinitiv.

eBay – Shares of the e-commerce giant dropped more than 5% in extended trading after the company reported strong fourth-quarter earnings but offered weak first-quarter revenue guidance. The company reported earnings of 81 cents per share excluding certain items on revenue of $2.82 billion, while analysts expected earnings of 76 cents per share on revenue of $2.81 billion, according to Refinitiv.

Advanced Micro Devices – The semiconductor company stock dropped more than 4% in extended trading after the company reported strong fourth-quarter earnings but offered weak first-quarter revenue guidance. The company reported a quarterly profit of 32 cents per share excluding certain items compared to a consensus estimate of 31 cents a share, according to Refinitiv. Fourth-quarter revenue beat Wall Street analyst estimates.

Xilinx – The semiconductor manufacturing company’s shares slipped nearly 10% in extended trading after the company missed third-quarter revenue estimates and provided weak fourth-quarter revenue guidance that fell below the consensus. While Xilinx beat analyst expectations for earnings in the third quarter by 9 cents per share, third-quarter revenue of $723 million fell below the $731 million that analysts expected, according to Refinitiv. In the fourth quarter, the company expects to have revenue of $750 million-$780 million, while analysts expected $825 million. Xilinx also announced the expected reduction of its global workforce by 7% as part of an effort to reduce operating expenses, according to the release.

Alaska Air – Shares of the airline dropped and then returned to around the closing price of $65.54 in extended trading after the company reported earnings and raised its quarterly dividend by 7%. Alaska Air reported a fourth-quarter profit of $1.46 per share excluding certain items, compared to a consensus EPS estimate of $1.41, according to Refinitiv. Revenue came in slightly above Wall Street forecasts.