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Microsoft shares jumped 8% after the software giant reported strong fiscal fourth-quarter revenue and outlined continued capital spending plans, citing robust demand across its business portfolio.
Starbucks raised its full-year earnings guidance and reported fourth consecutive quarter of same-store sales growth, with CEO citing cafe renovations and menu improvements driving customer loyalty recovery.
Chipotle raised its full-year same-store sales forecast to low single-digit growth after beating earnings expectations, though a cyclospora outbreak briefly impacted late-July sales.
Qualcomm reported in-line third-quarter earnings but issued cautious guidance for the current quarter, citing supply chain pressures and rising input costs. The chipmaker announced it will raise prices starting September 1 across its product lineup.
Carvana’s stock fell over 10% after reporting full-year earnings guidance between $2.7 billion and $3 billion, missing some analyst expectations that ranged up to $4.45 billion.
J.P. Morgan shifted to a hawkish rate forecast after Fed Chair Kevin Warsh offered ambiguous guidance on inflation strategy, raising concerns about policy clarity and triggering bond selloffs.
