Welcome to the latest update on the stock market! We’ve got the scoop on the companies making waves in extended trading, so grab a cup of coffee and settle in for the rundown.
First up, Mercury Systems saw a dip of nearly 12% after missing Wall Street estimates in the fiscal second quarter. The tech company reported an adjusted loss of 42 cents per share on revenue of $197 million, falling short of the expected 7 cents per share on revenue of $213 million. It’s a tough break, but let’s see how they navigate the waters in the coming months.
On the flip side, Viasat had a reason to celebrate with their shares gaining over 5% after surpassing Wall Street estimates for revenue in the third quarter. The communications firm notched revenue of $1.13 billion, higher than the forecasted $1.11 billion. However, their adjusted earnings per share fell below analyst estimates, so it’ll be interesting to see how they continue to steer the ship.
Next, we saw Snap taking a hit with shares plummeting more than 30% after missing analyst estimates for fourth-quarter revenue. The company reported $1.36 billion while analysts expected $1.38 billion. Snap did beat forecasts for fourth-quarter active users but fell short on average revenue per user. It seems like they’ll have to regroup and strategize for the road ahead.
In the world of apparel and footwear, VF Corp. faced a setback as shares pulled back more than 6% after missing fiscal third-quarter estimates. With earnings of 57 cents per share on $2.96 billion in revenue, falling short of the expected 77 cents per share on revenue of $3.24 billion, this company will need to rally and come back stronger in the next quarter.
Gilead Sciences also saw a slip of more than 2% as fourth-quarter adjusted earnings of $1.72 per share missed estimates from analysts. Revenue of $7.12 billion was in line with expectations, so it will be intriguing to see how they navigate the challenges and opportunities in the market.
On a more positive note, Chipotle saw shares adding nearly 3% after beating Wall Street estimates on the top and bottom lines in the fourth quarter. With earnings of $10.36 per share on revenue of $2.52 billion, surpassing the forecasted profit of $9.75 per share and revenue of $2.49 billion, they seem to be on the right track for success.
Meanwhile, Ford’s stock climbed about 7% after beating Wall Street estimates in the fourth quarter and issuing stronger-than-expected full-year guidance. The company also announced plans to issue a special dividend of 18 cents per share, so things are looking up for them.
In an exciting development, Fox and Warner Bros. Discovery saw their shares rising after news of a partnership with ESPN to launch a sports streaming service later this year. However, Disney’s stock pulled back while Warner Bros. and Fox saw gains, so it’ll be fascinating to see how this collaboration plays out in the market.
So, there you have it – the latest updates on companies making headlines in extended trading. Keep an eye on these movers and shakers as they continue to navigate the twists and turns of the stock market. Stay tuned for more updates and happy investing!
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