Check out the companies making headlines in after-hour trading.
CSX — The transportation company dropped 5% after missing Wall Street expectations for revenue in the second quarter, coming in at $3.7 billion against a $3.74 billion estimate from analysts polled by Refinitiv. Earnings per share for the quarter were in line with expectations at 49 cents.
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Capital One — The financial stock was near flat following a mixed earnings report. The company posted adjusted earnings of $3.52 per share on revenue of $9.01 billion for the second quarter. Analysts polled by Refinitiv were anticipating $3.23 per share on revenue and $9.12 billion in revenue. Total deposits decreased by 2% at the end of the period, while average deposits grew by 1%.
PPG Industries — Shares slid 2.2% despite the paints manufacturer posting a strong quarterly financial report. The company reported $2.25 in earnings per share excluding items on $4.87 billion in revenue, while analysts polled by FactSet forecasted earnings of $2.14 per share and $4.84 billion. The company also raised current-quarter and full-year earnings expectations.
Intuitive Surgical — The health-care stock dropped 4.7% after posting systems unit revenue that came in lighter than anticipated. Systems revenue was $392.7 million, compared to analysts’ estimates of $415.9 million, according to FactSet. Overall, the company beat Wall Street expectations in its second quarter. Intuitive posted adjusted earnings of $1.42 per share and $1.76 billion in revenue, beating expectations of $1.33 in earnings per share on $1.74 billion in revenue, according to consensus estimates from Refinitiv.
Knight-Swift Transportation — The transportation company tumbled 3% after missing analysts’ consensus estimates on earnings in the second quarter and giving weak guidance. Knight-Swift reported adjusted earnings of 49 cents per share and $1.55 billion in revenue. Analysts were expecting 55 cents in earnings per share and a quarterly revenue of $1.60 billion, according to Refinitiv. The company also lowered its full-year earnings guidance to a range that falls short of what analysts estimated. Management said soft demand and modest increases in driver turnover hurt volume and utilization. Werner Enterprises, another transportation stock, fell 2.7% in sympathy.
Scholastic — The publisher advanced 8% after beating expectations for earnings per share and announcing it would increase its share repurchase amount by $100 million. Scholastic reported $2.26 earned per share, higher than the forecast of $1.70 from the one analyst FactSet surveyed. But revenue came in at $428.3 million despite the analyst anticipating $541.8 million.
— CNBC’s Darla Mercado contributed reporting
