Stock Market

CrowdStrike, Microsoft, Netflix, Intuitive Surgical, Amex, Plug Power, and More Market Movers


Microsoft

was falling 2% and

CrowdStrike

declined 17% as a global IT outage caused airlines to ground planes and financial companies and other businesses unable to access their computer systems. The London Stock Exchange also experienced technical issues.

Microsoft

said in a tweet on X that it was “investigating an issue impacting users’ ability to access various Microsoft 365 apps and services.

CrowdStrike

said some of the crashes—which have left some PC users confronted with a so-called Blue Screen of Death—were tied to issues with its Falcon Sensor.

CrowdStrike CEO George Kurtz said the “issue has been identified, isolated and a fix has been deployed.” He said it wasn’t a “security incident or cyberattack.”

Netflix

reported better-than-expected second-quarter earnings and added 8.05 million subscribers in the period, topping analysts’ estimates and the 5.89 million subscribers added a year earlier. But shares of the streaming giant fell 1.4% in premarket trading after revenue was roughly in line with Wall Street estimates and the company forecast a 14% increase in third-quarter revenue to $9.7 billion, which would be slightly below consensus.

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Intuitive Surgical
,

the robotic surgery company, reported second-quarter adjusted profit that beats analysts’ estimates and sales of $2.01 billion, which were better than expectations of $1.97 billion.

Intuitive Surgical

said procedures with its da Vinci robotic systems rose 17% from a year earlier. Shares rose 6.6%.

PPG Industries

posted second-quarter earnings and revenue that fell from a year earlier, sending shares of the paint and coatings company down 4.6% in premarket trading. The company said it saw organic sales growth in its many of its businesses, including aerospace coatings and packaging coatings. But that growth “was offset by global automotive builds that weakened as the quarter progressed and global industrial production which remained soft.”

Plug Power

dropped 12% after the hydrogen-technology company announced a public share offering of $200 million.

Earnings reports are expected Friday from

American Express
,

SLB
,

Travelers Cos.
,

and

Halliburton
.

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American Express

fell 0.8% ahead of its second-quarter earnings report. Analysts expect the credit-card giant to report a profit increase from a year ealier, boosted by a more affluent clientele.

Write to Joe Woelfel at joseph.woelfel@barrons.com



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