Hey there, readers! We’ve got some exciting news about the latest happenings in the business world. Let’s dive into the companies making headlines after hours.
First up, Discover Financial Services. The company reported fourth-quarter results that caused shares to drop nearly 7%. However, it’s not all bad news as they reported quarterly revenue of $4.20 billion, which topped estimates of $4.10 billion. The GAAP earnings of $1.54 per share were not immediately comparable, so it’ll be interesting to see how this plays out in the coming days.
Next, let’s talk about Alcoa. Shares dropped nearly 3% after the aluminum producer reported fourth-quarter results. Despite this drop, it’s worth noting that Alcoa posted a narrower-than-expected adjusted loss of 56 cents per share, compared to an expected loss of 86 cents per share. Additionally, revenue of $2.60 billion came in line with estimates, so there’s definitely some positive elements to consider here.
Moving on to H.B. Fuller, their shares slid about 1% after the company posted adjusted earnings of $1.32 per share for the fourth quarter. This actually beat the FactSet consensus estimate of $1.27 per-share earnings. However, revenue of $902.9 million came in lower than the expected $929.9 million, so it’s a bit of a mixed bag for H.B. Fuller.
We’ve also got news about Talos Energy, whose shares dropped 5% after issuing fourth-quarter revenue guidance in the range of $380 million to $395 million. This fell short of the $393.5 million expected by analysts, but the company also announced an underwritten public common share offering of $300 million and plans to use the net proceeds to fund part of its acquisition of QuarterNorth Energy.
Lastly, let’s talk about Plug Power. The developer of hydrogen fuel cell systems plunged about 15% after disclosing a $1 billion sales agreement in common stock with B. Riley Securities. This is definitely a significant move in the industry, and it’ll be interesting to see the impact it has on Plug Power’s future.
That’s a wrap on the latest news in the business world. Keep an eye on these companies as they continue to make waves in the stock market. Stay tuned for more updates and analysis right here!
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