Check out the companies making headlines in extended trading.
Micron Technology — The chip stock slid 4% in extended trading after Micron offered weaker-than-expected earnings guidance for the current quarter. Micron said to expect a loss of $1.07 per share, while analysts polled by LSEG, formerly known as Refinitiv, expected 95 cents. Elsewhere, the company posted a narrower-than-expected loss for the fiscal fourth quarter, as well as revenue that came in ahead of expectations. Current-quarter revenue guidance is also higher than analysts anticipated.
Peloton Interactive — The stationary bike manufacturer jumped 13% after the bell on news of a five-year partnership to develop content for Lululemon. Meanwhile, Lululemon added nearly 1% in extended trading.
Jefferies Financial — The bank retreated 3% after reporting fiscal third-quarter earnings of 22 cents per share on revenue of $1.18 billion, down from the year-ago period. Jefferies said this quarter’s earnings were affected by a pretax loss in the company’s legacy merchant banking portfolio.
H.B. Fuller — The chemical company slipped about 1% following a weak financial report for the third quarter. H.B. Fuller reported $1.06 in earnings per share, excluding items, on $900.6 million in revenue, while analysts polled by FactSet forecast $1.14 in earnings per share on $954 million in revenue.
Duckhorn Portfolio — The luxury wine producer lost 2.8% after giving full-year guidance that was worse than analysts anticipated. Duckhorn said full-year earnings should come in between 67 cents and 69 cents per share, excluding items. The consensus estimate of analysts polled by FactSet sat slightly higher at 70 cents per share. The company guided full-year revenue between $420 million and $430 million, less than the $432.8 million forecast by analysts. However, the company was able to beat expectations on both lines in its fiscal fourth quarter.
Source: Finance - cnbc.com
