Companies Making Waves in After-Hours Trading
Let’s take a look at some companies that are gaining attention in extended trading sessions.
Starbucks
The beloved coffee chain Starbucks saw its stock increase by over 2% following impressive quarterly earnings. The company reported fiscal first-quarter earnings of 69 cents per share, with revenue hitting $9.40 billion. This surpassed analysts’ expectations, which predicted earnings of 67 cents per share and revenue of $9.31 billion. However, it’s worth noting that same-store sales have decreased for four consecutive quarters, causing some concern.
F5
F5, a prominent player in application security, experienced a remarkable 12% surge after revealing a promising revenue outlook for the second quarter. The company anticipates revenues between $705 million and $725 million, exceeding the FactSet projection of $702.7 million.
Qorvo
Qorvo, a leading semiconductor manufacturer, also saw its stock rise by 12% thanks to an optimistic fourth-quarter forecast. The company is expecting revenues of $850 million for the current quarter, outpacing analysts’ estimates of $841 million. Additionally, Qorvo’s adjusted earnings per share are projected at $1, surpassing the forecast of 86 cents per share.
Nextracker
Nextracker, a manufacturer specializing in solar tracking technology, saw its shares jump by 13%. The company provided an encouraging full-year earnings forecast after reporting third-quarter results that exceeded expectations. Nextracker anticipates adjusted earnings per share between $3.75 and $3.95, significantly higher than previous guidance of $3.10 to $3.30, and well above the FactSet estimate of $3.27.
LendingClub
On the other hand, LendingClub, a financial services provider, faced a setback, with shares dropping over 17%. This decline followed the announcement that the company’s provisions for credit losses exceeded analysts’ expectations for the fourth quarter. LendingClub reported loan provisions of $63.2 million, which surpassed the consensus estimate of $51.4 million from FactSet, raising concerns among investors.
