the recent earnings reports and stock performance of several companies. Here are the key points for each company:
- CSX: The transportation company’s stock dropped 5% after missing Wall Street’s revenue expectations in the second quarter. Earnings per share for the quarter were in line with expectations at 49 cents.
- 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. Total deposits decreased 2% at the end of the period, while average deposits grew 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, beating analysts’ expectations. The company also raised current-quarter and full-year earnings expectations.
- Intuitive Surgical: The health-care stock dropped 4.7% after reporting systems unit revenue that was lower than anticipated. However, the company beat Wall Street expectations in its second quarter for adjusted earnings per share and revenue.
- Knight-Swift Transportation: The transportation company’s stock tumbled 3% after missing analysts’ consensus estimates on earnings in the second quarter and giving weak guidance. The company also lowered its full-year earnings guidance, citing soft demand and modest increases in driver turnover.
- Werner Enterprises: Another transportation stock, Werner Enterprises, fell 2.7%.
- Scholastic: The publisher’s stock advanced 8% after beating expectations for earnings per share and announcing an increase in its share repurchase amount by $100 million. While earnings per share exceeded expectations, revenue fell short of the analyst’s estimate.
