Stock action after the bell was dominated by a cluster of earnings reports that produced wide-ranging reactions across sectors. Investors reacted sharply to companies that updated outlooks, raised spending plans or reported surprising traffic and monetization trends.
Meta Platforms (META)
Meta shares fell about 6% after the company missed second-quarter earnings expectations. Reported EPS came in at $6.18, below the $7.17 consensus, and the quarter included a $2.4 billion legal charge. Revenue rose to $60.8 billion, yet concerns centered on management's updated capital spending and expense plans. The company narrowed its 2026 capital expenditures target upward to $130 to $145 billion and increased full-year expense guidance to $165 to $169 billion as it moves to more aggressively invest in AI hardware.
Microsoft (MSFT)
Microsoft climbed roughly 2% after delivering a strong fiscal fourth quarter. The firm posted EPS of $4.74, topping the $4.24 estimate, on revenue of $90.01 billion. Cloud growth was a notable driver, with Azure revenue up 43% year-over-year. Microsoft 365 Copilot surpassed 30 million paid seats, a metric cited as evidence of enterprise monetization of AI initiatives.
Chipotle Mexican Grill (CMG)
Chipotle shares gained about 7% after reporting second-quarter EPS of $0.33 on revenue of $3.35 billion. Management reiterated expectations for low-single-digit comparable restaurant sales growth for the full year and confirmed plans to open 350 to 370 new restaurants in 2026. Nearly 80% of those units are slated to include the higher-margin Chipotlane drive-thru format.
Starbucks (SBUX)
Starbucks jumped 11% following a strong third-quarter performance. The company reported EPS of $0.85, well above the $0.66 forecast, on $9.3 billion of revenue. The stock reaction reflected a significant pickup in global store traffic, with same-store sales increasing 7.9%, outpacing the 5.73% consensus.
Carvana (CVNA)
Carvana tumbled about 14% despite posting second-quarter revenue of $7.38 billion, toppling the $6.86 billion estimate. Management maintained expectations for full-year 2026 Adjusted EBITDA of $2.7 to $3.0 billion. The sell-off followed a substantial year-to-date price advance and appeared tied to profit-taking and stretched valuation metrics.
Lam Research (LRCX)
Lam Research jumped about 7% after reporting a beat-and-raise fiscal fourth quarter. The company reported EPS of $1.82 versus $1.68 expected and provided fiscal first-quarter 2027 guidance that topped consensus. Management projected revenue around $8.1 billion plus or minus $400 million and EPS of $2.15 plus or minus $0.15, attributing strength to rapid fab spending for high-bandwidth memory and next-generation AI chips.
Fortinet (FTNT)
Fortinet rallied roughly 10% after beating second-quarter estimates and lifting its full-year outlook. The cybersecurity company reported EPS of $0.90 on $2.05 billion in revenue and raised its 2026 EPS target to $3.41 to $3.47 while increasing sales guidance to $8.02 to $8.18 billion, citing strong enterprise demand for its unified SASE and platform security solutions.
Qualcomm (QCOM)
Qualcomm fell about 4% after missing third-quarter earnings expectations. Reported EPS was $2.21 versus the $2.23 estimate on $9.95 billion of revenue. Sentiment was further pressured by light fourth-quarter EPS guidance of $2.05 to $2.25, with the midpoint at $2.15 compared with a $2.35 consensus, signaling near-term margin pressure in its core mobile chip business.
Teladoc Health (TDOC)
Teladoc plunged roughly 24% after reporting second-quarter revenue of $606.9 million, below the $614.99 million consensus, and cutting its forward guidance. Management issued weak third-quarter and full-year 2026 revenue outlooks that missed Wall Street targets, citing rising member acquisition costs and softer direct-to-consumer mental health demand as headwinds for the platform.
Market takeaway
The session underscored a bifurcated market where strong execution or favorable traffic trends drove gains for several consumer and cybersecurity companies, while heavier-than-expected spending plans or soft guidance sparked declines in other areas, particularly among large-cap tech and health-platform names.