Stocks move a lot after hours: ANET, MGM, SYK, CHGG


A monitor displays signage for Arista Networks Inc. on the floor of the New York Stock Exchange (NYSE) in New York, U.S., Friday, August 24, 2018.

Michael Nagle | Bloomberg | Getty Images

Find out which companies are making headlines after hours.

Arista Networks — The cloud networking company fell 7% despite analysts’ expectations for the first quarter. Arista posted adjusted earnings per share of $1.43 in the quarter on $1.35 billion in revenue, while analysts polled by Refinitiv had expected $1.34 per share on $1.31 billion. dollars. The company also gave a second-quarter revenue forecast that was better than Wall Street expected.

Chegg – Shares of the educational technology company fell more than 36% in after-hours trading after the company issued a weak outlook for second-quarter earnings. Separately, the company beat analysts’ expectations for adjusted earnings per share and revenue in the first quarter, according to Refinitiv.

Everest Re Group – Shares fell 4.7% after the insurance company missed analysts’ expectations for its first quarter. The company said it posted after-tax operating earnings per share of $11.31 for the quarter, which was below the consensus estimate of $12.53 per share by analysts polled by FactSet. The company posted revenue of $3.29 billion, also below analysts’ forecast of $3.37 billion.

stryker — The stock of medical technologies fell by more than 4%. The company warned that if exchange rates remain close to current levels, it expects full-year sales and earnings per share to be “moderately affected”. Separately, the company recorded beats on the top and bottom lines in the first quarter, according to Refinitiv.

NXP Semiconductors – Shares gained 3.9% after the company beat Wall Street expectations in the first quarter. The company posted adjusted earnings per share of $3.19 on revenue of $3.12 billion. Analysts polled by Refinitiv had expected earnings of $3.02 per share and $3 billion in revenue.

Diamondback Energy — The oil and gas company lost 1.7% after its first-quarter earnings fell short of Wall Street expectations. Diamondback reported earnings per share of $4.10, lower than the consensus estimate of $4.33 from analysts polled by FactSet. But the company managed to narrowly beat its revenue, posting $1.93 billion against street estimates of $1.92 billion.

MGM Resorts — The resort and casino company lost 0.2% on strong first-quarter earnings. The company posted adjusted earnings per share of 44 cents, beating the consensus estimate of 10 cents per share, according to Refinitiv. Revenue also beat expectations, with MGM recording $3.87 billion while analysts had forecast $3.59 billion.

– CNBC’s Darla Mercado and Scott Schnipper contributed reporting

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