Welcome to our extended trading recap! We’ve got the latest updates on some of the top companies making headlines after hours, so let’s dive in and see what’s been happening.
First up, we’ve got Disney, and it looks like things are looking up for them. Shares climbed about 6% in after-hours trading, thanks to better-than-expected fiscal first-quarter earnings. Disney is expecting adjusted earnings to rise 20% to $4.60 per share in fiscal 2024, and they’ve also announced a new stock repurchase program and reinstated their dividend. Plus, they’re making an investment in Epic Games, the publisher of the popular Fortnite video game. It’s always great to see such positive news coming from such an iconic company.
Next, let’s talk about PayPal. While their fourth-quarter results beat Wall Street estimates, the company’s forecast was a bit lower than expected, causing their stock to fall more than 3%. They’re anticipating full-year earnings per share of $5.10, which is below analyst estimates. The number of active users also fell slightly, coming in just below the Wall Street estimate. It’s a bit of a mixed bag for PayPal, but we’ll have to wait and see how things play out for them.
On a more positive note, Oscar Health saw their shares gain more than 24% after they released stronger-than-expected full-year guidance that surpassed Wall Street estimates. The company is forecasting full-year revenue in the range of $8.3 billion to $8.4 billion, compared to an estimate from analysts surveyed by FactSet. It’s always great to see a company exceeding expectations and heading in the right direction.
Moving on to Wynn Resorts, things are looking up for them as well. Their stock climbed about 3% after reporting a fourth-quarter beat for both adjusted earnings per share and revenue. Wynn reported $1.91 per share on revenue of $1.84 billion, surpassing the forecasts from analysts. It’s always great to see a good quarter for a company in the hospitality and entertainment industry.
Allstate also had a positive after-hours trading session, with stock in the insurance provider rising 2% after reporting net premiums written of $12.64 billion in the fourth quarter. While this was slightly below analyst estimates, it’s still a positive sign for the company.
Arm Holdings saw their stock soar nearly 30% after beating Wall Street estimates for the fiscal third quarter on both the top and bottom lines and issuing higher-than-expected fourth-quarter revenue guidance. The company is now expecting fourth-quarter revenue in the range of $850 million to $900 million, surpassing analyst expectations.
Lastly, Monolithic Power Systems saw their shares climb nearly 8% after beating Wall Street estimates in the fourth quarter. The company posted earnings of $2.88 per share, excluding items, on revenue of $454 million. This was ahead of analyst forecasts, showing strong performance from the company.
Overall, it’s been an eventful after-hours trading session with plenty of positive news coming from various companies. We’ll be keeping an eye on these developments and bringing you all the latest updates as they unfold.
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