Here are some of the notable earnings reports just released:
Facebook ($FB)
Shares of social media giant Facebook rose after the bell as the company beat expected revenue and earnings per share.
Amazon ($AMZN)
Shares of e-commerce giant Amazon rose after the bell as the company beat expected revenue and earnings per share.
Alphabet ($GOOG)
Shares of Google's parent company Alphabet rose after the bell as the company beat expected revenue and earnings per share.
Apple ($AAPL)
Shares of the iPhone maker rose after the bell as the company beat expected revenue and earnings per share.
Gilead ($GILD)
Shares of Gilead Sciences, which is working to develop a COVID-19 vaccine, fell after the bell as the company missed expected revenue and earnings per share.
Shake Shack ($SHAK)
Shares of the burger chain Shake Shack fell after the bell as the company missed expected revenue and earnings per share.
Ford ($F)
Shares of Ford fell after the bell though the automaker beat on expected revenue and earnings per share.
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Nestlé has dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The company announced on Monday that the dismissal was effective immediately. An investigation found that Freixe violated Nestlé’s code of conduct. He had been CEO for a year. Philipp Navratil, a longtime Nestlé executive, will replace him. Chairman Paul Bulcke stated that the decision was necessary to uphold the company’s values and governance. Navratil began his career with Nestlé in 2001 and has held various roles, including CEO of Nestlé's Nespresso division since 2024.
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.