Stocks in the technology and retail sectors experienced significant movement after hours on Tuesday. Leading the pack were Microsoft, Alphabet, Starbucks, and AMD, among others.
Microsoft saw a 3% surge after reporting its fiscal second-quarter earnings, surpassing Wall Street’s expectations. The company’s revenue and profit were bolstered by its cloud computing and personal computing divisions.
Alphabet, the parent company of Google, also made waves with a 7% rise. The tech giant’s strong performance was attributed to a surge in advertising revenue and growth in its cloud business.
Meanwhile, coffee giant Starbucks witnessed a 3% increase following the release of its first-quarter earnings. The company’s strong digital sales and reopening of stores contributed to its positive performance.
Advanced Micro Devices (AMD) experienced a 2% jump after announcing its fourth-quarter results, which exceeded analysts’ expectations. The semiconductor company’s data center and gaming revenue drove its impressive performance.
These after-hours movements reflect the ongoing dynamism in the stock market, influenced by various factors including company earnings, market trends, and investor sentiment.
