After-Hours Tech Movers In An Earnings-Heavy Afternoon

U.S. stock markets closed up on Monday, with the S&P 500 and the Dow Jones Industrial Average hitting new record highs, helped by Bank of America Corp BAC’s better than expected results this morning and news about Japan’s SoftBank Group acquiring ARM Holdings plc (ADR) ARMH.

After the market closed, shares of Netflix, Inc. NFLX tumbled about 15.3 percent, after reporting its second quarter results. Even though EPS of $0.09 beats the Street’s consensus by $0.07 and revenue of $2.1 billion, up 28 percent year-over-year, was in line with expectations, the 160K net adds seen in the U.S. and 1.52 million net adds witnessed overseas disappointed investors, as management had guided for 500K and 2 million net adds, respectively.

On the other hand, International Business Machines Corp. IBM gained more than 2.5 percent since the bell rang this afternoon, driven by a top and bottom line beat. Second quarter EPS of $2.95 beats the Street’s consensus by $0.06, while revenue of $20.24 billion came in $210 million ahead of expectations.

Also surging on its earnings was VMware, Inc. VMW, which rose more than 4.75 percent in Monday’s after-hours session. Second quarter EPS of $0.97 and revenue of $1.69 billion beat analysts’ consensus by $0.02 and $10 million, respectively.

Finally, there’s EMC Corporation EMC, which traded up about 1.1 percent in after-hours. After the market closed on Monday, the large cap tech company posted second quarter EPS of $0.45, $0.03 above the Street’s consensus, and revenue of $6 billion, in line with estimates.

Disclosure: Javier Hasse holds no interest in any of the securities or entities mentioned above.