Storage Stocks Surge After Seagate Earnings; NXP Semiconductors Pops 16%; Robinhood Sinks 9%

Shares of storage companies jumped in overnight trading, after strong revenue and profit forecasts from Seagate Technology signaled that spending by enterprises on artificial ​intelligence equipment will remain strong. Silicon Motion Technology soared 23.9% after earnings; Seagate Technology surged 18.3% after earnings; Western Digital jumped 9.6%; SanDisk gained 4.6%; Roundhill Memory ETF and Micron Technology rose about 3%.

NXP Semiconductors forecast second-quarter revenue and profit above Wall Street expectations, betting on an ongoing ‌recovery in the industrial and automotive chip markets to boost revenue, sending its shares ​up 16.4% in overnight trading.

Starbucks raised ‌its annual forecasts as CEO Brian Niccol said investments in faster service and more staffing had lured customers back to the global coffee chain. The shares gained 5.5% in overnight trading.

Visa beat estimates for Wall Street profit as the world's largest payment processor benefited from a steady rise in payment volumes despite ​ongoing macroeconomic uncertainty, sending its shares up 4.8% in overnight trading.

T-Mobile raised its forecast for annual postpaid net account additions, as competitive pricing and bundled ​streaming benefits help the U.S. wireless carrier attract customers in a saturated market. The shares rose 1.8% in overnight trading.

Chip-testing equipment maker Teradyne forecast a sequential decline in second-quarter ​revenue and adjusted profit, sending its ‌shares down 7.5% in overnight trading.

Robinhood missed expectations for first-quarter profit, as weaker-than-expected transaction revenue and lower take rates in options and cryptocurrency trading ​overshadowed growth in customer assets and deposits. The shares sank 9% in overnight trading.

Enphase Energy swung to a loss in its first quarter as the expiration of a residential solar panels led to a decline in revenue. The shares sank 10.9% in overnight trading.