NetGear Inc. Q2 adjusted earnings of $0.28 per share

Below are the earnings highlights for NetGear Inc. (NTGR):

-Earnings: $0.84 million in Q2 vs. -$5.23 million in the same period last year.
-EPS: $0.03 in Q2 vs. -$0.16 in the same period last year.
-Excluding items, NetGear Inc. reported adjusted earnings of $8.85 million or $0.28 per share for the period.
-Revenue: $230.85 million in Q2 vs. $255.28 million in the same period last year.

Amazon could be heading to Brooklyn: reports

After nixing plans to establish a headquarters in the New York City borough of Queens, media reports say Amazon.com Inc. AMZN, +0.32% is considering a place in the next borough over: Brooklyn. Items in New York real estate blog Brownstoner and Crain’s New York say Amazon could be considering up to 1 million square feet in the Sunset Park section of Brooklyn, in Industry City. Amazon has already leased space in Manhattan and the Bronx, among other New York City locations. Amazon stock is up 33% for the year to date while the S&P 500 index SPX, +0.47% is up 20.4%.

Mueller says he wants the report to be ‘a signal, a flag’ to those with responsibility

WASHINGTON – Testifying before the House Intelligence Committee, former special counsel Robert Mueller said he wanted his office’s report to be a “signal, a flag” to those with a responsibility to act. 

Rep. Jackie Speier, D-Calif., had asked Mueller “on behalf of the American people,” what lessons he wanted people to take away from the report. 

“We spent substantial time ensuring the integrity of the report, understanding it would be living, a message to those who come after us,” Mueller said. “But it is also signal, a flag, to those of us who have some responsibility in this area, to exercise those responsibilities swiftly and don’t let this problem continue to linger as it has over some of the years” 

Mueller did not clarify, though, what “this problem” referred to.

Earlier Thursday, Mueller said his team had not made a determination on charging President Donald Trump.  

He also said a president could be charged with crimes after leaving office, but did not say whether Trump should be charged. Mueller has defended the impartiality of his investigation, telling lawmakers the investigation was “not a witch hunt,” despite Trump’s insistence to the contrary. 

Tech shares lead S&P 500, Nasdaq to record finish

The S&P 500 and Nasdaq Composite index posted record finishes on Wednesday, led in part by gains for tech stocks. The Dow Jones Industrial Average was unable to join the rally, weighed down by losses for Boeing Co. and Caterpillar Inc. after disappointing second-quarter earnings. The S&P 500 SPX, +0.47% rose around 14 points, or 0.5%, to end near 3,020, according to preliminary figures, while the Nasdaq COMP, +0.85% advanced around 70 points to close near 8,322, a gain of 0.8%. Chip stocks helped lead the way higher, with the PHLX Semiconductor Index SOX, +3.10% jumping 3.1% to close at a record high. The Dow DJIA, -0.29% fell around 79 points, or 0.3%, to close near 27,270. Caterpillar Inc. shares CAT, -4.48%led Dow decliners with a 4.5% drop after reporting second-quarter results, while shares of Boeing Co. BA, -3.12% fell 3.1% after reporting a big second-quarter loss.

How Facebook Did It Again in Q2 Despite Huge Bottom Line Miss

Facebook, Inc. (NASDAQ: FB) released second-quarter financial results after markets closed Wednesday. The social media giant said that it had $0.91 in earnings per share (EPS) and $16.9 billion in revenue, compared with consensus estimates that called for $1.88 in EPS and $16.5 billion in revenue. The same period from last year had $1.74 in EPS and $13.23 billion in revenue.

During the quarter, daily active users (DAUs) were 1.59 billion on average for June 2019, an increase of 8% year-over-year. At the same time, monthly active users increased by 8% to 2.41 billion.

Mobile advertising revenue represented roughly 94% of advertising revenue for the second quarter of 2019, up from about 91% of advertising revenue in the same period last year.

Additionally, management estimates that more than 2.1 billion people now use Facebook, Instagram, WhatsApp, or Messenger every day on average, and around 2.7 billion people use at least one of this family of services each month.

Mark Zuckerberg, Facebook founder and CEO, commented:

We had a strong quarter and our business and community continue to grow. We are investing in building stronger privacy protections for everyone and on delivering new experiences for the people who use our services.

Shares of Facebook closed Wednesday at $204.66, with a 52-week range of $123.02 to $218.62. The consensus analyst price target is $223.19. Following the announcement, the stock was up about 3% at $211.25 in the after-hours trading session.

EARNINGS SUMMARY: Details of Universal Forest Products Q2 Earnings Report

Below are the earnings highlights for Universal Forest Products (UFPI):

-Earnings: $55.15 million in Q2 vs. $45.13 million in the same period last year.

Xilinx stock drops as outlook falls short of Street view

Xilinx Inc. XLNX, +3.82% shares dropped in the extended session Wednesday after the chip maker’s revenue outlook fell short of Wall Street estimates. Xilinx shares fell 4.3% after hours, following a 3.8% rise in the regular session to close at $132.14. Xilinx said it expects fiscal second-quarter revenue of $800 million to $850 million, while analysts had forecast revenue of $853 million. "Xilinx’s fiscal second quarter guidance takes into account the estimated impact from the U.S. government’s announced export restriction to one of our customers in China," the company said in a statement in a likely reference to China’s Huawei Technologies Co. "Guidance does not include the financial impact related to the announced acquisition of Solarflare, which is expected to close during the fiscal second quarter." The company reported fiscal first-quarter net income of $241.5 million, or 94 cents a share, compared with $190 million, or 74 cents a share, in the year-ago period. Adjusted earnings were 97 cents a share. Revenue rose to $849.6 million from $684.4 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 93 cents a share on revenue of $846.6 million.