Apple

(ticker: AAPL) reported fiscal third-quarter earnings that topped analysts’ expectations while revenue of $81.8 billion matched consensus but fell from nearly $83 billion a year earlier. Apple’s iPhone business recorded revenue of $39.7 billion, down from $40.7 billion a year earlier and below analysts’ forecasts. Chief Financial Officer Luca Maestri said he expects revenue in the current fiscal fourth quarter ending in September to be similar to the 1% decline in the three months ended in June, which would be slightly worse than Wall Street expectations. Apple shares fell 2.5% in premarket trading.

Second-quarter earnings and sales from

Amazon.com

(AMZN) were better than expected and guidance for the third quarter topped Wall Street estimates. In the second quarter, Amazon posted revenue of $134.4 billion, up from $121.2 billion in the year-earlier quarter. Earnings were 65 cents a share, a rebound from a year-earlier loss of 20 cents. The company’s Amazon Web Services business had better-than-expected growth in the second quarter. AWS sales were $22.1 billion, up 12% from a year earlier, and above Wall Street estimates. The stock jumped 8.9% in premarket trading.

DigitalOcean Holdings

(DOCN) shed 21% after the cloud company reduced its full-year guidance, while also announcing a restatement of certain previously reported results to correct some accounting errors.

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Atlassian

(TEAM) soared 20% after the provider of software development and project management tools issued a forecast for fiscal first-quarter sales that was above analysts’ expectations.

Atlassian

anticipates first-quarter sales of $950 million to $970 million, higher than forecasts of $954 million. 

Fortinet

(FTNT) reported adjusted earnings that topped forecasts but the stock slumped 17% after billings of $1.54 billion missed expectations and the cybersecurity company said it saw an “unusually large volume of deals” pushed out beyond the second quarter. Fellow cybersecurity company

Palo Alto Networks

(PANW) tumbled 6%.

Booking Holdings

(BKNG) reported earnings that beat analysts’ estimates and forecast a record summer travel season. Adjusted earnings were $37.62 a share, higher than Wall Street estimates of $28.98. Sales of $5.46 billion topped estimates of $5.17 billion. Shares of Booking, which owns travel services sites like Booking.com, Priceline, Agoda, Kayak, Rentalcars.com, and OpenTable stock, was rising 12% in premarket trading.

DraftKings

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(DKNG) rallied 12% after the online sports-betting app reported a surprise adjusted profit in the second quarter and boosted its full-year sales forecast.

Opendoor Technologies

(OPEN) declined 11% and

Redfin

(RDFN) was down 11% after the real estate companies issued revenue guidance well below Wall Street expectations.

Cloudflare

(NET) gained 8.8% to $70.76 in premarket trading after the internet infrastructure company posted better-than-expected second-quarter adjusted earnings and guidance that was slightly above forecasts. Analysts at TD Cowen and Mizuho raised their price targets on the stock.

Yelp

(YELP) rose 7.8% after the local recommendation site posted better-than-expected second-quarter results and boosted its outlook for the full year on strong local advertising demand from home service providers.

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Block

(SQ) was falling 5.3%. The payments company raised its guidance for the year but the stock declined after indicating that gross profit growth slowed to 21% in July.

Write to Joe Woelfel at joseph.woelfel@barrons.com 

The post Apple, Amazon, Atlassian, Fortinet, Booking, and More Market Movers appeared first on California Vanlines.

US stocks closed lower on Monday

S&P 500

I’ve enjoyed the best week since the end March.

Tesla (TSLA) is up 1.7% to $217.61. The electric vehicle maker received a price target increase from $175 to $215 from analysts at Citi.

Palantir Technologies (PLTR) was 5% increase on news of multi-year contract with US Special Operations Command. C3.ai (AI) up 9.5%. AI-related companies remained in focus after a recent surge.

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Palo Alto Networks (PANW) stock rose 4.4% after it was announced that the company would join the S&P 500 as part of the index’s quarterly rebalancing on June 20. The cybersecurity firm will take the place of Dish Network (DISH), S&P Dow Jones Indices announced late Friday. Shares of the television service provider fell 2.7%.

EPAM Systems (EPAM) tumbled 22% after the software design company cut its earnings guidance.

Dollar General (DG) lost 4.4%. Morgan Stanley analysts downgraded the retailer to equal weight from overweight.

Estee Lauder

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(EL) slipped 3.8%. Oppenheimer analysts downgraded their rating of the makeup company to perform from outperform.

Ford (F) won 1.6%. Analysts at Citi have upgraded the automaker’s stock to buy from neutral.

Oil stocks were mixed after Saudi Arabia pledged in July to cut oil production by another million barrels a day, while the Organization of the Petroleum Exporting Countries (OPEC) and its allies agreed to extend their current oil production target to 2024. Chevron (CVX) lost 0.5%, Exxon Mobil (XOM) was down 0.4%Ovintiv (OVV) gained 1.2%, Kosmos Energy (KOS) lost 1.5% and ConocoPhillips (COP) lost 0.3%.

Write to Callum Keown at callum.keown@barrons.com

The post Apple, Tesla, Palantir, Palo Alto, and More Stock Market Movers appeared first on California Vanlines.