HR Block Stock Jumps 10% on Earnings, While Applied Materials Dips
Key Points
- HR Block (HRB) stock climbed 10% in after-hours trading.
- Applied Materials (AMAT) shares fell 1% despite reporting strong earnings.
- The broader S&P 500 index extended its winning streak.
HR Block Earnings Beat
HR Block, the tax preparation company, reported better-than-expected earnings in its latest quarter and raised its full-year outlook. The company's net income rose 23% to $323 million, or $5.02 per share, exceeding analysts' estimates of $4.96 per share. Revenue also increased by 6% to $815 million, driven by a surge in digital tax preparation services.Applied Materials Reports Solid Earnings
Applied Materials, a semiconductor equipment manufacturer, also released its quarterly results, showing strong revenue and profit growth. The company's net income climbed 43% to $1.58 billion, or $0.98 per share, beating analysts' expectations of $0.93 per share. Revenue increased by 10% to $6.75 billion, driven by demand for its advanced chipmaking tools.S&P 500 Continues to Rally
The broader S&P 500 index extended its winning streak to three days, closing at a record high. The index was lifted by positive economic data, including strong retail sales and a decline in unemployment claims.Other Notable Stock Movers
Other notable stock movers on Friday included:- Texas Instruments (TXN): +3.5%
- Fox Corporation (FOX): +2.1%
- Tesla (TSLA): -2.3%
- Amazon (AMZN): -1.4%
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